Lowe's 2013 Annual Report Download - page 12

4
Executives ProServices develop and manage overall relationships with large regional businesses, home offices, branches of
national customers and existing business accounts, and our National Account representatives assist customers doing business
with Lowe’s across the country.
To provide value for Pro customers, we offer five key ways to save: our 5% off purchases every day when they use Lowe's
proprietary credit; our Lowe's Business Replenishment Program; contractor packs, which provide lower unit pricing for larger
quantity purchases; Quote Support Program (QSP), which provides volume pricing on purchases over certain dollar limits; and
reduced delivery rates to the job site. Through our Business Replenishment Program, we can keep the Pro customer stocked
with the supplies they need, and replenish their stock when and where they need it, no matter where they work. The Pro
customer can save time by ordering their supplies online, over the phone, or by fax, and we will have the order ready for in-
store pick-up or we can provide delivery directly to their job site or office. In addition, we provide job lot quantities in
categories such as Lumber & Building Materials, Tools & Hardware, Rough Plumbing & Electrical, Paint, and Outdoor Power
Equipment, that are critical to the success of their business.
Extended Protection Plans and Repair Services
We offer extended protection plans in Kitchens & Appliances, Tools & Hardware, and Outdoor Power Equipment. Lowe’s
extended protection plans provide customers with product protection that enhances or extends the manufacturer’s warranty. We
provide in-warranty and out-of-warranty repair services for major appliances, outdoor power equipment and tools through our
stores or in the home through our Lowe’s Authorized Service Repair Network. Our contact center takes the calls, assesses the
problems, and facilitates the resolutions making after-sales service simpler for customers because we manage the entire
process.
Credit Financing
We offer a proprietary consumer credit card for retail customers under an agreement with GE Capital Retail Bank. This
program provides Lowe's consumer credit cardholders with 5% off their purchases every day. For purchases above $299,
customers have their choice of short-term no-interest financing or the 5% off value. For purchases above $3,500, customers
have their choice of the following: 5.99% interest for 84 months; short-term no-interest financing; or the 5% off value.
We also offer proprietary credit programs for Pro customers. They include a Lowe’s Business Account, which is ideal for small
to medium size businesses and offers minimum monthly payments, and Lowe’s Accounts Receivable, which is ideal for
medium to large size businesses that pay in full each month. These programs provide a 5% discount to Pro customers when
they use their Lowe’s business credit account. We also offer the Lowe’s Business Rewards Card from American Express®,
which also offers 5% off everyday purchases.
For additional information regarding our credit programs, see the summary of our significant accounting policies in Note 1 of
the Notes to Consolidated Financial Statements included in Item 8, “Financial Statements and Supplementary Data”, of this
Annual Report on Form 10-K.
MyLowes®
MyLowes is an online tool that makes managing, maintaining and improving homes simpler and more intuitive. Using the
capabilities provided by MyLowes, customers can create home profiles, save room dimensions and paint colors, organize
owners' manuals and product warranties, create shopping, to-do and wish lists for projects on the horizon, set recurring
reminders for common maintenance items and store purchase history from across all Lowe's channels.
Selling Channels
We have multiple channels through which we engage customers and sell our products and services, including in-store, online,
on-site and contact centers. Although we sell through all of these channels, our primary channel to fulfill customer orders
continues to be our retail home improvement stores. Regardless of the channel through which customers choose to engage with
us, we strive to provide them with a seamless experience and an endless aisle of products, enabled by our flexible fulfillment
capabilities.
In-Store
Our 1,760 home improvement stores are generally open seven days per week and average approximately 112,000 square feet of
retail selling space, plus approximately 32,000 square feet of outdoor garden center selling space. Our stores offer similar
products and services, with certain variations based on local market factors. We continue to develop and implement tools to
make our sales associates more efficient and to integrate our order management and fulfillment processes. Our home
improvement stores have Wi-Fi capabilities that provide customers with internet access, making information available quickly