Lowe’s shoppers know that these stores are hubs for all your home improvement needs. Whether you’re looking to give your space a fresh coat of paint or a total renovation, this popular retailer has your back. Now, Lowe’s is taking steps to make those changes even easier with a new feature that could transform the way you shop. Read on to find out what big change Lowe just announced for shoppers – and why you might want to take advantage of it.
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Lowe’s has changed since early 2022. Earlier this year, Lowe’s announced the launch of its new home decor brand, Origin21. The brand, which is in-house and exclusive to Lowe’s, will deliver “responsive, contemporary design for everyday living throughout the home,” according to a company announcement.
To expand its services even further, Lowe’s also partnered with Instacart, a popular delivery service, in February. The company offers a same-day delivery service from the hardware store, where customers can shop around 20,000 products online. Now Lowe’s is expanding its virtual offering, this time helping to make home design so much easier.
For those who enjoy spending time online, Lowe’s has good news. According to a June 21 press release, the retailer is moving into the Metaverse, a virtual reality platform, via Lowe’s Open Builder. If you’re redesigning your home, you can now take advantage of Lowe’s 500 Metaverse product “assets,” which are free to view and download.
According to the Financial Action Task Force, virtual assets are “digital representations of currencies of value that can be traded digitally.” But unlike assets like bitcoin, which you have to buy, Lowe’s has chosen to make its assets – which include digital representations of various household products and furniture – available for free.
“Our goal is truly to conquer this new frontier and help people use their imaginations and help them make their virtual spaces as exciting, inspiring and enjoyable as their real-world spaces.” Marisa Thalberg, Lowe’s executive vice president and chief brand and marketing officer, told CNBC. “And that’s the only advantage we’re looking for at this point.”
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You can now test your designs online with Open Builder and get a feel for how they will look before you start or invest in a full-fledged project. The virtual assets are 3D, so you can design different rooms. According to Lowe’s press release, assets include lighting, patio furniture, area rugs, kitchen and bathroom accessories, and decorative accents.
“What we’ve noticed in our current media like Lowes.com and in our stores…people like to experiment and while they’re shopping and getting inspired, they like to put things together in a virtual world before starting their project.” Seemantini Godbole, Lowe’s executive vice president and chief information officer, told CNBC. “It’s the same idea for the metaverse. They want them to experiment, feel and understand what it will look like before they start the project in the real world.”
According to CNBC, Lowe’s is the first major home improvement retailer to make the move, giving customers free access to assets all based on genuine Lowe’s products. And while the company claims it isn’t currently monetizing the platform and the assets are free to download, CNBC noted that data could be used to monitor customer behavior.
In addition to items to help you plan redesign projects, you can also use the 3D virtual accents for gaming, utilizing augmented reality or just for creative design, the retailer said in a press release. Lowe’s understands that with this addition it is likely to appeal to a younger audience, particularly those who play online games.
“If you look at kids who have used platforms like Minecraft and Roblox, a lot of what they’re doing there is fascinating enough: building and designing,” Godbole told CNBC. “This idea of being able to build and decorate and design and enhance is kind of at the core of how these spaces are created.”
This audience may not be shopping at Lowe’s or buying a home yet, but the retailer is still hoping to connect with the millennials that are will soon to be buying homes and “not afraid of technology,” Godbole explained.
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