Lowe's 2000 Annual Report Download - page 11

Lowe’s Companies, Inc.
9
We know who
our customers are.
We’re gaining visibility nationwide.
With the opening of 100 new stores and the conversion of 41 former Eagle
locations in 2000, Lowe’s is strengthening its presence in U.S. metropolitan
markets. We entered nine of these markets in 2000, increasing our position in
these large, dynamic markets. Now, 18 percent of our total stores are in the top
25 U.S. markets. In 2001, we’ll build on that momentum, expanding our reach
to even more of the nation’s top markets.
But Lowe’s stores aren’t just growing in number. They’re growing in strength.
We’re constantly studying the market, anticipating trends, and sharpening our
concept to make our stores as consumer-friendly as possible. We’ve empowered
our store employees — those closest to the customer — to fine-tune the product
offering to meet market-specific needs. The result is a home improvement chain
that grows and changes to meet the needs of its customers.
Keeping our customers in view.
A full 75 percent of our sales in 2000 came from retail customers, including
both the Do-It-Yourself (DIY) and the Buy-It-Yourself (BIY) consumers. With
retail sales comprising over 50 percent of the $400 billion total home improvement
market, Lowe’s is poised to increase our retail sales even more by providing the supe-
rior product and service solutions these customers demand.
The remaining 25 percent of our sales in 2000 came from Commercial
Business Customers — a group that represents an estimated $175 billion of annual
home improvement spending.

From the CBC
to the DIYer to
the BIYer, Lowe’s
knows what
customers are
looking for. Our
cleaner, brighter
and easier-to-
shop stores
provide the ideal
environment to
meet all of our
customers’ needs.