It’s a new age in the home improvement industry and Pros are the unexpected hero. Lowe’s commits to making every Pro an “MVP” with a game-changing new partnership that helps Pros succeed no matter their size. Introducing Lowe’s MVPs Pro Rewards and Partnership Program, a reinvented approach to loyalty that gives all Pros real solutions and real value for their business—from exclusive offers to business management tools, chances to win gear and experience, Lowe’s e-gift cards and more. 

And, to further help Pros get ahead, Lowe’s listened to Pros and their customers to learn what’s next for the industry and what they need to know to succeed. Enter: the inaugural Lowe’s State of the Pro report — a first-of-its-kind new tool Pros can add to their business toolbox, lightening their workloads by revealing the industry’s top trends so that they don’t have to.  

The findings point to a critical need for partners like Lowe’s to show up as a true business partner for Pros, relentlessly focusing on propelling Pros’ businesses to success—no matter their size—as they navigate their new business environment. And that’s exactly what Lowe’s intends to do with our new MVPs Pro Rewards Program.  Here are some findings from the State of the Pro report.

Homeowners are turning to Pros more, and their motivations will vary:  

·       While homeowners anticipate taking on more DIY projects in 2022, 51% of homeowners agree the next time they need home improvement work done they will leave it to the Pros. 

·       35 percent of older homeowners say increasing the financial value of their home is a motivation for HI projects (vs. 24 percent of younger homeowners). 

·       ‘Improving design or style’ ranked as the No. 1 motivation for HI projects across all generations (40 percent). 

·       Challenges persist, with new solutions:  

·       42 percent of Pros say tech will help them manage increased workload. 

·       31 percent of Pros say their ability to get needed supplies has worsened since last year. 

·       74 percent of Pros agree that they rely on their team more than ever before. 

Tech, talent and partners will be critical to success:  

·       42 percent of Pros say that technology will help them manage that increased workload.  

·       74 percent of Pros agree that they rely on their team more than ever before.   

·       76 percent of Pro respondents say they rely more than ever on suppliers and retailers for extra support to excel their business in a transformed industry.  

·       Nearly 90 percent of Pros say it’s important for retailers to have valuable loyalty programs, Pros also voiced the need for retailers to offer solutions to propel their business forward. 

Relationships and communication matter:  

·       Homeowners are nearly twice as likely to say they plan to use personal recommendations or referrals (84 percent) than external recommendations or referrals (48 percent).  

·       Further, younger homeowners are more likely than older homeowners to hire someone they know personally (40 percent vs 29 percent). 

·       “Better communication” ranked No. 1 as the top deciding factor across all generations when deciding between two final quotes with all else equal. 

·       60 percent of homeowners cite ‘not responsive to communication’ as a major challenge.