January 27, 2022
Lowe’s customers in several states will not only be able to purchase products for their household projects at the chain’s stores, but will now also be able to purchase dog food and other pet products.
The home improvement chain and Petco Health and wellness company are opening one-store pet product stores in a 15-store pilot project in the Carolinas and Texas. The first store to feature a Petco store will open in Alamo Ranch, TX, near San Antonio next month. The stores will cover approximately 1,100 square feet and will be positioned in the seasonal area at the front of Lowe’s stores. Select stores will also offer veterinary services, and the partnership extends to the Lowe’s site with a designated Petco store, also.
A CNBC The report highlights that both chains have been among the retail winners during the pandemic and that the new Petco stores are in line with Lowe’s drive to expand into new categories to boost its business.
Petco has also demonstrated its willingness to take new avenues of attracting pet owners as it faces competition from a wide variety of challengers, including Amazon.com, Chewy, PetSmart, Walmart and a range of specialty pet retailers. The company launched in October a new concept, Reddy SoHo, which is looking to grow on the popularity of the private label launched in 2018.
Nick Konat, director of merchandising at Petco, sees his company’s millennial customers and those who shop at Lowe’s have a lot in common.
“He’s a big spender and they really take care of their pet like their family,” he said. CNBC. “And they’ve done the same with their homes as well, many of them new owners or new tenants.”
Lowe’s decision to enter into this one-of-a-kind partnership with Petco appears to be based on a recent survey he commissioned. The Sun Herald reports that 58% of respondents said they would be more likely to shop at a home improvement store if it also offered pet products for sale. Ninety percent of pet owners surveyed said they want their pets to be comfortable in their home.
DISCUSSION QUESTIONS: Do you expect the Lowe’s/Petco pilot to be successful and expanded to other locations? How do you think this pilot project will affect the thinking of Lowe’s and Petco’s main competitors?
“Lowe’s strives to position itself closer to the center of consumers’ everyday needs instead of relying on periodic home improvement needs.”