July 31st 2017
Summer season offers shoppers discounts on favorite items used all year round. While many retailers leverage the July 4th holiday to issue sales that will draw in customers, this year home improvement retailer Lowe’s experienced a peak in online sales on July 10th and 11th by offering online sales exclusively to its MyLowe’s members. To showcase the impact that the sale had on purchases and on MyLowe’s memberships, we have compared the purchase orders with new memberships generated the same week.
On July 10th and 11th, Lowe’s offered its online promotion exclusively to MyLowe’s members, adding an additional incentive for more shoppers to become MyLowe’s members. As Figure 1 highlights, there is an increase in the volume of new MyLowe’s memberships and orders through the month of July. This increase suggests that the promotion achieved its goal to drive purchases as well as incentivize growth of new MyLowe’s membership sign ups..
Examining samples of aggregated and anonymized Lowe’s e-receipts stemming from the online sale July 10th and 11th revealed the following:
~72% of orders had either sale discount or the free shipping, exclusively for MyLowe’s members
~236% increase in Lowe’s purchase orders on the sale days
~285% increase in new MyLowe’s memberships on the sale days
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*The data shown is based on a sample of anonymized and aggregated e-receipts from millions of consumers in the United States.