Latest / Omni Talk Retail / Fast Five Shorts | What Excites You Most About Lowe’s New Marketplace Partnership With Mirakl?

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Fast Five Shorts | What Excites You Most About Lowe’s New Marketplace Partnership With Mirakl? · Omni Talk Retail

• 0:00
  Lowe's
• 0:00
  is
• 0:01
  partnering
• 0:01
  with
• 0:01
  Miracle
• 0:02
  to
• 0:02
  accelerate
• 0:03
  its
• 0:03
  online
• 0:03
  marketplace,
• 0:04
  according
• 0:04
  to
• 0:04
  a
• 0:04
  Lowe's
• 0:05
  press
• 0:05
  release.
• 0:06
  Through
• 0:06
  its
• 0:06
  partnership
• 0:07
  with
• 0:07
  Miracle,
• 0:07
  Lowe's
• 0:08
  is
• 0:08
  positioned
• 0:08
  to
• 0:09
  scale
• 0:09
  its
• 0:09
  e
• 0:09
  commerce
• 0:10
  business
• 0:10
  faster
• 0:10
  while
• 0:11
  allowing
• 0:11
  trusted
• 0:11
  marketplace
• 0:12
  sellers
• 0:12
  to
• 0:12
  easily
• 0:13
  manage
• 0:13
  their
• 0:13
  catalogs
• 0:14
  on
• 0:14
  lowe's.com
• 0:15
  better
• 0:16
  serving
• 0:16
  customers
• 0:16
  wherever
• 0:17
  they
• 0:17
  are
• 0:17
  in
• 0:18
  their
• 0:18
  home
• 0:18
  improvement
• 0:19
  journey.
• 0:19
  Since
• 0:20
  launching
• 0:20
  its
• 0:20
  Marketplace,
• 0:21
  Lowe's
• 0:21
  has
• 0:21
  expanded
• 0:22
  its
• 0:22
  offerings
• 0:22
  from
• 0:22
  third
• 0:23
  party
• 0:23
  sellers,
• 0:23
  including
• 0:24
  indoor
• 0:24
  and
• 0:24
  outdoor
• 0:25
  furniture,
• 0:25
  kitchen
• 0:26
  and
• 0:26
  bath,
• 0:26
  home
• 0:26
  home
• 0:26
  decor,
• 0:27
  power
• 0:27
  in
• 0:27
  hand,
• 0:27
  tools
• 0:28
  and
• 0:28
  more.
• 0:29
  The
• 0:29
  benefits
• 0:30
  of
• 0:30
  Lowe's
• 0:30
  Marketplace
• 0:31
  extend
• 0:31
  to
• 0:31
  members
• 0:31
  of
• 0:32
  Milo's
• 0:32
  Rewards
• 0:33
  loyalty
• 0:33
  program,
• 0:34
  with
• 0:34
  members
• 0:34
  accruing
• 0:35
  points
• 0:35
  on
• 0:36
  any
• 0:36
  Marketplace
• 0:37
  purchases.
• 0:38
  All
• 0:38
  Marketplace
• 0:39
  products
• 0:39
  are
• 0:39
  currently
• 0:39
  available
• 0:40
  for
• 0:40
  home
• 0:40
  delivery
• 0:41
  and
• 0:41
  customers
• 0:41
  may
• 0:41
  return
• 0:42
  Marketplace
• 0:43
  products
• 0:43
  purchased
• 0:43
  through
• 0:43
  Lowe's.com
• 0:44
  directly
• 0:45
  to
• 0:45
  any
• 0:46
  one
• 0:46
  of
• 0:46
  Lowe's
• 0:47
  over
• 0:47
  1700
• 0:48
  stores.
• 0:49
  Chris,
• 0:50
  I'm
• 0:50
  guessing
• 0:51
  you're
• 0:51
  going
• 0:51
  to
• 0:51
  be
• 0:51
  as
• 0:52
  excited
• 0:53
  as
• 0:53
  you
• 0:53
  were
• 0:53
  for
• 0:53
  the
• 0:54
  Sam's
• 0:54
  Club
• 0:54
  story,
• 0:54
  but
• 0:55
  are
• 0:55
  you,
• 0:56
  are
• 0:56
  you
• 0:56
  excited
• 0:57
  about
• 0:57
  the
• 0:57
  Lowe's
• 0:58
  new
• 0:58
  Marketplace
• 0:58
  partnership
• 0:59
  with
• 0:59
  Miracle?
• 0:59
  And
• 1:00
  what
• 1:00
  excites
• 1:00
  you
• 1:00
  most?
• 1:03
  What
• 1:03
  excites
• 1:03
  me
• 1:03
  most
• 1:04
  about
• 1:04
  it?
• 1:04
  I
• 1:04
  think
• 1:04
  you
• 1:04
  hit
• 1:05
  it
• 1:05
  right
• 1:05
  in.
• 1:05
  The
• 1:05
  headline
• 1:06
  read
• 1:06
  honestly
• 1:06
  and
• 1:07
  it's
• 1:07
  the,
• 1:07
  it's
• 1:08
  the
• 1:08
  combination
• 1:08
  of
• 1:09
  Lowe's
• 1:10
  using
• 1:10
  and
• 1:10
  talking
• 1:11
  about
• 1:11
  loyalty
• 1:11
  and
• 1:12
  the
• 1:12
  value
• 1:12
  of
• 1:13
  their
• 1:13
  stores
• 1:14
  within
• 1:14
  the
• 1:14
  creation
• 1:14
  of
• 1:15
  their
• 1:15
  digital
• 1:15
  marketplace,
• 1:16
  because
• 1:16
  that
• 1:16
  is
• 1:16
  how
• 1:16
  you
• 1:17
  differentiate
• 1:17
  an
• 1:18
  online
• 1:18
  marketplace
• 1:19
  and,
• 1:19
  and
• 1:19
  Lowe's
• 1:20
  is
• 1:20
  clearly
• 1:20
  thinking
• 1:20
  smartly
• 1:21
  in
• 1:21
  that
• 1:22
  direction.
• 1:22
  The
• 1:22
  other
• 1:23
  point
• 1:23
  I
• 1:23
  would
• 1:23
  make
• 1:24
  is
• 1:24
  that
• 1:25
  an
• 1:25
  online
• 1:25
  marketplace
• 1:26
  is
• 1:26
  particularly
• 1:26
  important
• 1:27
  in
• 1:27
  home
• 1:27
  furnishings
• 1:27
  because
• 1:28
  of
• 1:28
  what
• 1:28
  I've
• 1:28
  said
• 1:28
  before
• 1:29
  on
• 1:29
  this
• 1:29
  show
• 1:29
  a
• 1:29
  thousand
• 1:30
  times.
• 1:31
  Furnishing
• 1:31
  a
• 1:31
  home
• 1:31
  is
• 1:32
  a
• 1:32
  massive
• 1:32
  chore
• 1:33
  and
• 1:33
  the
• 1:33
  more
• 1:33
  you
• 1:33
  can
• 1:34
  get
• 1:34
  done
• 1:34
  in
• 1:34
  one
• 1:34
  space,
• 1:35
  the
• 1:35
  better.
• 1:35
  Whether
• 1:36
  you're
• 1:36
  a
• 1:36
  homeowner
• 1:37
  or
• 1:37
  even
• 1:37
  a
• 1:37
  contractor,
• 1:38
  even
• 1:38
  a
• 1:38
  pro
• 1:39
  looking
• 1:39
  to
• 1:39
  buy
• 1:40
  many
• 1:40
  things
• 1:41
  all
• 1:41
  at
• 1:41
  once.
• 1:42
  All
• 1:42
  of
• 1:42
  which
• 1:42
  then
• 1:43
  comes
• 1:43
  back
• 1:43
  to,
• 1:44
  as
• 1:44
  I
• 1:44
  said
• 1:44
  at
• 1:44
  the
• 1:45
  outset
• 1:45
  and,
• 1:45
  and
• 1:46
  can
• 1:46
  be
• 1:46
  augmented
• 1:46
  by
• 1:47
  the
• 1:47
  loyalty
• 1:47
  incentives
• 1:48
  you're
• 1:48
  doing
• 1:48
  to
• 1:49
  incent
• 1:49
  that
• 1:49
  behavior.
• 1:50
  So
• 1:51
  that's
• 1:51
  why
• 1:51
  I
• 1:51
  love
• 1:51
  this
• 1:52
  move
• 1:52
  from
• 1:52
  Lowe's.
• 1:52
  And
• 1:53
  again,
• 1:53
  you
• 1:54
  can't,
• 1:54
  can't
• 1:54
  discount
• 1:55
  the
• 1:55
  fact
• 1:55
  too
• 1:55
  that
• 1:56
  you
• 1:56
  can
• 1:56
  bring
• 1:56
  these
• 1:56
  products
• 1:57
  back
• 1:57
  to
• 1:57
  the
• 1:57
  store,
• 1:57
  which
• 1:58
  is
• 1:58
  also
• 1:58
  an
• 1:58
  important
• 1:59
  factor
• 1:59
  in
• 2:00
  driving
• 2:00
  loyalty
• 2:01
  as
• 2:01
  well
• 2:01
  and
• 2:01
  driving
• 2:02
  reuse.
• 2:02
  So,
• 2:03
  so
• 2:03
  net
• 2:03
  net.
• 2:03
  I
• 2:04
  love
• 2:04
  this
• 2:04
  as
• 2:04
  well.
• 2:04
  I
• 2:05
  think
• 2:05
  it's
• 2:05
  great.
• 2:05
  And
• 2:05
  kudos
• 2:06
  to
• 2:06
  our
• 2:06
  sponsors,
• 2:06
  Miracle
• 2:07
  for,
• 2:09
  for
• 2:09
  becoming
• 2:10
  the
• 2:10
  platform
• 2:10
  for
• 2:10
  Lowe's.
• 2:11
  It's
• 2:11
  awesome.
• 2:12
  Yeah,
• 2:12
  I
• 2:12
  agree.
• 2:13
  I
• 2:13
  think
• 2:13
  I'm,
• 2:14
  I'm
• 2:14
  less,
• 2:14
  I
• 2:15
  think
• 2:15
  this
• 2:15
  will
• 2:15
  have
• 2:15
  less
• 2:15
  of
• 2:16
  an
• 2:16
  impact
• 2:16
  on
• 2:16
  the
• 2:17
  pro
• 2:17
  customer
• 2:17
  because
• 2:18
  most
• 2:18
  of
• 2:18
  those
• 2:18
  customers
• 2:19
  need
• 2:19
  to
• 2:19
  go
• 2:19
  get
• 2:20
  something
• 2:20
  same
• 2:20
  day
• 2:21
  like
• 2:21
  get
• 2:21
  that
• 2:22
  kind
• 2:22
  of
• 2:22
  thing.
• 2:22
  But
• 2:22
  what
• 2:23
  I
• 2:23
  really
• 2:23
  think
• 2:23
  this
• 2:24
  opens
• 2:24
  up
• 2:24
  is
• 2:25
  a,
• 2:25
  is
• 2:25
  an
• 2:25
  extended
• 2:26
  audience
• 2:27
  for
• 2:27
  the
• 2:28
  Lowe's
• 2:29
  home
• 2:29
  improvement
• 2:29
  customer.
• 2:30
  The,
• 2:30
  the
• 2:30
  regular
• 2:31
  people
• 2:31
  out
• 2:31
  there
• 2:32
  who
• 2:32
  need
• 2:33
  these
• 2:33
  products,
• 2:34
  especially
• 2:34
  when
• 2:34
  we
• 2:35
  start
• 2:35
  looking
• 2:35
  at
• 2:35
  what,
• 2:36
  you
• 2:36
  know,
• 2:36
  Dave
• 2:36
  Schneidman
• 2:37
  is
• 2:37
  going
• 2:37
  to
• 2:37
  come
• 2:37
  on
• 2:37
  and
• 2:37
  talk
• 2:38
  about
• 2:38
  in
• 2:38
  a
• 2:38
  little
• 2:38
  bit,
• 2:38
  is
• 2:38
  changing
• 2:39
  consumer
• 2:39
  sentiment.
• 2:40
  You
• 2:40
  are
• 2:41
  now
• 2:41
  opening
• 2:41
  up
• 2:42
  the
• 2:42
  Lowe's
• 2:42
  world
• 2:43
  of
• 2:43
  products
• 2:44
  to
• 2:44
  all
• 2:45
  sorts
• 2:45
  of
• 2:45
  options.
• 2:46
  It's
• 2:46
  giving
• 2:47
  customers
• 2:47
  choice
• 2:48
  when
• 2:48
  they
• 2:48
  don't
• 2:49
  have
• 2:49
  as
• 2:49
  much
• 2:49
  money.
• 2:50
  If
• 2:50
  they
• 2:50
  go
• 2:50
  into
• 2:50
  the
• 2:51
  Lowe's
• 2:51
  store
• 2:51
  and
• 2:51
  they
• 2:51
  see
• 2:52
  two,
• 2:52
  you
• 2:52
  know,
• 2:53
  drills
• 2:54
  that
• 2:54
  they
• 2:54
  might
• 2:54
  need
• 2:54
  for
• 2:55
  an
• 2:55
  upcoming
• 2:55
  project,
• 2:56
  and
• 2:56
  then
• 2:56
  they
• 2:56
  can
• 2:57
  go
• 2:57
  online
• 2:57
  and
• 2:57
  they
• 2:58
  can
• 2:58
  still
• 2:58
  get
• 2:58
  their
• 2:58
  rewards
• 2:59
  points
• 2:59
  at
• 2:59
  Lowe's,
• 3:00
  but
• 3:00
  they
• 3:00
  can,
• 3:00
  they
• 3:01
  can
• 3:01
  find
• 3:01
  some
• 3:01
  other
• 3:02
  options
• 3:02
  that
• 3:02
  might
• 3:02
  be
• 3:03
  lower
• 3:03
  price
• 3:03
  or
• 3:03
  more
• 3:04
  middle
• 3:04
  of
• 3:04
  the
• 3:04
  road
• 3:04
  that
• 3:05
  Lowe's
• 3:05
  just
• 3:05
  can't
• 3:06
  carry
• 3:06
  inventory
• 3:07
  for
• 3:07
  in
• 3:07
  store.
• 3:08
  You're,
• 3:08
  you're
• 3:08
  hanging
• 3:09
  on
• 3:09
  to
• 3:09
  that
• 3:09
  customer
• 3:10
  and
• 3:10
  you're
• 3:10
  getting
• 3:10
  them
• 3:11
  to
• 3:11
  come
• 3:11
  to
• 3:11
  you
• 3:11
  for
• 3:12
  more
• 3:12
  things
• 3:12
  because
• 3:13
  they
• 3:13
  know
• 3:13
  that
• 3:13
  you're
• 3:14
  going
• 3:14
  to
• 3:14
  give
• 3:14
  them
• 3:14
  the
• 3:14
  assortment
• 3:15
  and
• 3:15
  a
• 3:15
  price
• 3:15
  point
• 3:16
  for
• 3:16
  the,
• 3:16
  for
• 3:17
  a
• 3:17
  good,
• 3:18
  especially
• 3:18
  in
• 3:18
  all
• 3:18
  the
• 3:19
  categories
• 3:19
  that
• 3:19
  we
• 3:19
  just
• 3:20
  covered
• 3:20
  off
• 3:20
  on,
• 3:20
  from
• 3:20
  home
• 3:21
  furnishings
• 3:21
  to
• 3:21
  power
• 3:22
  tools,
• 3:22
  they
• 3:23
  will
• 3:23
  have
• 3:24
  the
• 3:24
  customer
• 3:25
  coming
• 3:25
  there
• 3:26
  first,
• 3:27
  and
• 3:27
  they
• 3:28
  own
• 3:28
  that
• 3:28
  relationship
• 3:28
  with
• 3:29
  the
• 3:29
  customer
• 3:29
  at
• 3:29
  the
• 3:30
  end
• 3:30
  of
• 3:30
  the
• 3:30
  day,
• 3:30
  too,
• 3:31
  which,
• 3:31
  that's,
• 3:32
  what
• 3:32
  more
• 3:32
  could
• 3:32
  you
• 3:33
  ask
• 3:33
  for?
• 3:33
  It's
• 3:33
  a,
• 3:33
  such,
• 3:34
  such
• 3:34
  a
• 3:34
  smart,
• 3:35
  smart
• 3:35
  move
• 3:35
  from
• 3:36
  Lowe's.
• 3:36
  Yeah.
• 3:37
  And,
• 3:37
  and
• 3:37
  when
• 3:37
  you
• 3:38
  think
• 3:38
  about
• 3:38
  it
• 3:38
  too,
• 3:38
  like,
• 3:38
  who
• 3:39
  they're
• 3:39
  really
• 3:39
  trying
• 3:39
  to
• 3:39
  differentiate
• 3:40
  against
• 3:40
  here
• 3:40
  is
• 3:40
  Amazon
• 3:41
  on
• 3:41
  the
• 3:41
  one
• 3:41
  off,
• 3:42
  you
• 3:42
  know,
• 3:42
  pickoffs,
• 3:43
  you
• 3:43
  know,
• 3:43
  and
• 3:43
  Amazon,
• 3:44
  for
• 3:44
  the
• 3:44
  most
• 3:44
  part,
• 3:45
  correct
• 3:45
  me
• 3:46
  if
• 3:46
  I'm
• 3:46
  wrong,
• 3:46
  doesn't
• 3:46
  have
• 3:47
  a
• 3:47
  loyalty
• 3:47
  program.
• 3:47
  In
• 3:48
  fact,
• 3:48
  I
• 3:48
  pay
• 3:48
  $99
• 3:49
  a
• 3:49
  month
• 3:50
  or
• 3:50
  a
• 3:50
  year?
• 3:51
  No,
• 3:51
  like
• 3:51
  $139
• 3:52
  a
• 3:52
  year
• 3:53
  to
• 3:53
  Amazon
• 3:53
  to
• 3:54
  be
• 3:54
  loyal
• 3:54
  to
• 3:54
  it.
• 3:55
  And
• 3:55
  so
• 3:55
  now
• 3:56
  you're,
• 3:56
  you're,
• 3:56
  you're
• 3:56
  taking
• 3:57
  that
• 3:57
  out
• 3:57
  of
• 3:57
  the
• 3:57
  equation.
• 3:57
  And
• 3:58
  Lowe's
• 3:58
  is
• 3:58
  smarter
• 3:58
  than
• 3:59
  thinking
• 3:59
  about
• 3:59
  how
• 3:59
  do
• 3:59
  I
• 3:59
  use
• 3:59
  loyalty
• 4:00
  to
• 4:00
  build
• 4:00
  an
• 4:00
  online
• 4:01
  marketplace
• 4:02
  so
• 4:02
  that
• 4:02
  people
• 4:02
  realize
• 4:03
  that
• 4:03
  that's
• 4:03
  dumb
• 4:04
  and
• 4:04
  I
• 4:04
  can
• 4:04
  get
• 4:04
  the
• 4:05
  same
• 4:05
  level
• 4:05
  in
• 4:05
  quality
• 4:06
  of
• 4:06
  service
• 4:06
  and
• 4:06
  better
• 4:07
  discounts
• 4:07
  and
• 4:07
  more
• 4:07
  affordability
• 4:08
  by
• 4:09
  shopping
• 4:09
  with
• 4:09
  Lowe's.
• 4:09
  So
• 4:10
  I
• 4:10
  think
• 4:10
  I,
• 4:11
  I,
• 4:11
  I
• 4:12
  think
• 4:12
  that's
• 4:12
  the
• 4:12
  point
• 4:12
  that
• 4:12
  I
• 4:13
  hadn't
• 4:13
  thought
• 4:13
  about
• 4:13
  until
• 4:13
  you
• 4:13
  just
• 4:14
  said
• 4:14
  what
• 4:14
  you
• 4:14
  said.