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Lowe's Essay

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As a small hardware store in 1921, Lowe’s was founded by Lucius Lowe. The store started in North Carolina, after Lucius death in 1940 the store was passed to a brother Jim Lowe. In 1952 to 1960 stores started to pop up in other areas, with the new owner, the brother in law Carl Buchan. By 1979 Lowe’s became a member of the New York Stock Exchange (LOW) (North Carolina History, 2016). By Lowe’s buying straight from the manufactures, they were able to avoid higher prices and pass the savings on the consumers. The company went public in 1961 after Carl Buchan death, the name Lowe’s North Wilkesboro Hardware was then changed to Lowe’s Companies (Lowe’s companies, 2018). The store started out helping mainly contractors but moved into “do it yourself “with households buying items. By the 1980’s the store was mostly household consumers who came in to buy. Lowe’s then started to compete with Home Depo. What Lowe’s centered on was selling garden supplies, lumber, home decorations, and tools. A large part of high revenues is because of Lowe’s financing program offered to builders and helped them fill out the government forms needed to build. …show more content…

Evolving the products to meet the pro contractors needs. By updating the website with custom catalogs and purchase history capabilities this will help the pro person. Lowe’s is also using social media to bring their products to light, sights such as Pinterest, Facebook and YouTube. Lowe’s role in the global market is a strong one, they provide products for carpenters, consumers and pro contractors. They provide services such as Kitchen design, bathroom design and rental of machines. They also offer classes on tile, paint, and classes for kids on building things. The products they offer are environmentally responsible. Lowe’s has many things in the planning for the future such as Lowe’s 3-D scanning and recycling to reduce their environmental

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