Lowe’s revamps loyalty program
Lowe’s reported a first-of-its-kind loyalty program called MyLowe’s Rewards, designed for DIY customers.
“We created this loyalty program with their home improvement needs in mind, just as we did with the MVPs Pro Rewards program for our pro customers,” said Marvin Ellison, chairman and CEO at Lowe’s.
“With MyLowe’s Rewards, Lowe’s is now the only national home improvement retailer with distinct loyalty offerings that cater to both pro and DIY customers,” said the CEO. (Note: Home Depot has a pro loyalty program, but does not have a DIY program.)
The all new MyLowe’s Rewards, which the retailer said comes with terms and conditions, “offers a seamless and rewarding shopping experience with exclusive perks for members.”
Customers who shop with their MyLowe’s Rewards credit card will save 5% every day on eligible purchases, receiving the most value and rewards compared to any other payment type. The firm said this is subject to credit approval, and more terms and restrictions apply.
Benefits available to all members include:
- Points earned on eligible purchases toward MyLowe’s Money;
- Free standard shipping with no or lower minimum spend on eligible purchases;
- Free member-only gifts;
- Free Lowe’s DIY-U kids and garden workshops;
- Savings through exclusive offers and early sales notifications;
- Plus, a customized in-app experience that allows members to track their points progress, explore previous purchases and receive personalized recommendations.
MyLowe’s Rewards is a three-tiered program with new benefits unlocked at each status level, said the retailer.
New members start at the Bronze Key tier and increase in status as they shop and engage with Lowe’s more annually. Statuses and benefits include:
Bronze Key: Earns 1 point per dollar, plus free standard shipping on eligible purchases $35 or more.
Silver Key: Earns 1.25 points per dollar, plus free standard shipping with no purchase minimum on eligible items.
Gold Key: Earns 1.5 points per dollar, plus free standard shipping with no purchase minimum on eligible items.
The firm said MyLowe’s Rewards credit card holders will also receive a free upgrade to Silver Key status, earning MyLowe’s Money faster and gaining access to all member benefits.
Current Lowe’s Advantage credit card holders will automatically transition to the MyLowe’s Rewards credit card in March and will continue to save 5% every day on eligible purchases while earning points and rewards, said the company.
“Lowe’s has been serving DIY customers for more than 100 years, and now we’re rewarding their longtime loyalty by offering even more value when they shop with MyLowe’s Rewards,” said Ellison.
