Lowe’s SWOT Analysis: Never Stop Improving
The global company known as Lowes offers its customers everything needed to build, maintain, and enhance their homes. Subsequently, Lowes provides major appliances and home electronics. With their main headquarters in North Carolina, Lowes has established over one thousand eight hundred stores across the United States. Ever since the 1940s, Lowes has continued to promote innovation and internal development, which involves offering high quality products and providing excellent customer service. Lowes has also established a lasting reputation for low prices by dealing directly with the manufacture and eliminating the wholesalers.
The Lowes Company has numerous assets and strengths. However, no single product line dominates Lowe’s overall sales profile. With an extensive customer base, Lowes serves over seventeen million customers in a single week. Due to Lowe’s brand reputation, the company possesses a strong financial position because of the products they offer. Combined with their customer service, Lowes provides incentives for their employees offering great customer service the data …show more content…
For example, with over seven thousand domestic and foreign suppliers, Lowes has little control over the quality of the products they can purchase from them. Vulnerable to risk, Lowes takes on the responsibility of compiling with the financial stability and the foreign policies of these countries. Due to their limited control of the quality of the merchandise procured from these foreign countries, product recalls result in a negative effect on consumer retention and brand loyalty. Lastly, the company takes on additional negative impacts on their sales and profits by not having physical stores in these countries. In consequence to adding physical stores in other countries, Lowes has the potential to increase their sales and
The global company known as Lowes offers its customers everything needed to build, maintain, and enhance their homes. Subsequently, Lowes provides major appliances and home electronics. With their main headquarters in North Carolina, Lowes has established over one thousand eight hundred stores across the United States. Ever since the 1940s, Lowes has continued to promote innovation and internal development, which involves offering high quality products and providing excellent customer service. Lowes has also established a lasting reputation for low prices by dealing directly with the manufacture and eliminating the wholesalers.
The Lowes Company has numerous assets and strengths. However, no single product line dominates Lowe’s overall sales profile. With an extensive customer base, Lowes serves over seventeen million customers in a single week. Due to Lowe’s brand reputation, the company possesses a strong financial position because of the products they offer. Combined with their customer service, Lowes provides incentives for their employees offering great customer service the data …show more content…
For example, with over seven thousand domestic and foreign suppliers, Lowes has little control over the quality of the products they can purchase from them. Vulnerable to risk, Lowes takes on the responsibility of compiling with the financial stability and the foreign policies of these countries. Due to their limited control of the quality of the merchandise procured from these foreign countries, product recalls result in a negative effect on consumer retention and brand loyalty. Lastly, the company takes on additional negative impacts on their sales and profits by not having physical stores in these countries. In consequence to adding physical stores in other countries, Lowes has the potential to increase their sales and