Home improvement retailer Lowe’s launched the PROvember Playbook, a guide for pros of all business sizes to create the most value as they restock and recharge heading into 2023. Proprietary research conducted by Lowe’s indicates 86% of pros found inflation to be a top challenge in 2022, with two-thirds of pro respondents believing inflation will be a long-term issue.
The PROvember Playbook aims to help ease the burden of issues such as inflation by offering advice from Lowe’s Pro Ambassadors about making the most with their money, which tools are worth stocking up on now, and which deals provide the most return on investment for their business.
“We know Pros have a lot of challenges to navigate this winter, so we are deepening our dedication through Lowe’s PROvember,” Tony Hurst, senior vice president, pro, services and international, said in a news release. “As a true business partner for Pros, we are listening to their needs and adding more value and more meaning to what we offer our pros so they can get ahead of another busy year.”
PROvember, which kicked off October 30, features upgrades to help pros make the most of year-end purchases, including extra savings on select- pro-grade tools and materials. MVPs Pro Rewards and Partnership Program members will earn three Bonus Points per dollar spent on select items during PROvember.
OIn addition to challenges related to inflation, the proprietary Pro Pulse Survey indicates Pros remain optimistic despite a challenging economic backdrop. Nearly 60% of respondents said their job has been more challenging during the past year, but 73% said their job has been “more rewarding” as well.
Two-thirds of pro respondents expect to have more work for the remainder of 2022 than they did during the rest of 2022 and nearly three-quarters of respondents expect even more work in 2023. Approximately 68% of pros said they relied on their retailers and suppliers more than they did a year ago and 61% plan to outsource parts of their business in 2023. Additionally, the increasing economic pressures have provoked an even deeper focus for pros on saving time and money, according to the Pro Pulse Survey.
