Lowe’s is introducing free offers for customers as the home improvement retailer looks to maintain shopper engagement amid slowing consumer spending. The move is accompanied by other retailers in the industry to adapt their strategies to retain shoppers.
Lowe’s Turns to Free Offers as Consumer Spending Slows
In its latest earnings report, Lowe’s said it continues to face challenges as demand for higher-end home improvement projects softens. Sales rose just 0.4% year over year, while foot traffic slipped 0.1%.
Lately, the company announced multiple limited-time free offers tied to its MyLowe’s Rewards program, including promotional giveaways and member-focused incentives. The move is to initiate to drive stores visits and strengthen customer loyalty at a time when discretionary spending has slowed down.
Lowe’s hosted giveaways during Black Friday and the holiday season in December. Now, in 2026, Lowe’s is going to celebrate MyLowe’s Rewards Member Week. Beginning January 10 at 10 a.m., members can visit participating Lowe’s stores to receive free giveaways, while supplies last.
As it is an in-store offer, the company expects an uptick in foot traffic.
Struggles in Home Improvement Retail Space and Housing Market
The wider home improvement industry is still experiencing the effects of a slower housing market and changing economy, influencing consumer demand in the industry. Lowe’s and its competitors have reacted by doubling down on loyalty programs, targeted promotions, and value-driven deals to keep the traffic alive.
High mortgage rates have also been one of the contributing factors behind consumers’ expenditure pullback. Earlier anticipations indicated that changes in mortgage rates affect home sales as well as other consumer spending.
Lowe’s initiatives reflect a broader trend among retailers navigating economic headwinds and shifting consumer priorities.
Lowe’s is a renowned home improvement retailer in the country, with its products being diverse in terms of maintenance, repair, remodeling, and home decoration. The company serves both do-it-yourself customers and professional contractors.
