+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Lowe's average customer is a white baby boomer who spent $809 there last year

Feb 28, 2024, 18:11 IST
Business Insider
Lowe's shoppers tends to skew more rural than their more urban counterparts at Home Depot.AP Photo/LM Otero
  • Lowe's has 1,746 stores and employs about 300,000 people across North America.
  • A little over half of US consumers shopped at Lowe's at least once last year.
Advertisement

Originally founded in 1921 as a small general store in Wilkesboro, North Carolina, Lowe's is now the world's number-two home improvement retailer, with 300,000 employees and sales of $86.3 billion last year.

A little more than half of shoppers in the US make at least one trip each year to one of Lowe's 1,746 locations, according to data from the consumer analytics firm Numerator.

But which of those millions of shoppers is the "typical" Lowe's shopper? Here's what the data suggests.

Numerator found that Lowe's typical shopper is a white woman over 60 years old who owns her home in the suburbs, but she tends to skew more rural than her more urban counterpart at Home Depot.

Like Home Depot, Lowe's serves two core groups of customers: DIYers and Pros.

Advertisement

DIY shoppers turn to the store for supplies to complete their own projects, while pros are typically contractors and tradespersons, like electricians, plumbers, and painters.

The company says it primarily serves DIY shoppers but is actively seeking to boost its share of high-spending pros to compete with Home Depot.

In addition to taking on Home Depot, Lowe's is looking to win over customers from outdoor lifestyle retailer Tractor Supply Co. with a push into smaller-format rural stores.

About three-quarters of those who shopped at Lowe's last year came back to the store in 2023, according to Numerator, on par with the customer loyalty for rival Home Depot.

Lowe's shoppers have dialed back in recent months, but the company said a few are still splurging on its offerings of high-tech, futuristic appliances at price points of $2,500 or more.

Advertisement

The typical customer earns between $40,000 and $80,000 a year and now makes nine trips to Lowe's, spending about $90 per trip for an annual total of $809.

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article