Latest / Omni Talk Retail / How Lowe’s Is Reinventing Home Improvement with a Digital Marketplace with VP Michael McCluskey | 5IM

Transcript

How Lowe’s Is Reinventing Home Improvement with a Digital Marketplace with VP Michael McCluskey | 5IM · Omni Talk Retail

• 0:00
  Foreigning
• 0:10
  us
• 0:10
  now
• 0:10
  for
• 0:10
  five
• 0:10
  insightful
• 0:11
  minutes
• 0:11
  to
• 0:11
  discuss
• 0:12
  his
• 0:12
  company's
• 0:12
  recent
• 0:13
  push
• 0:13
  into
• 0:14
  building
• 0:14
  a
• 0:14
  third
• 0:14
  party
• 0:15
  digital
• 0:15
  marketplace,
• 0:16
  is
• 0:16
  Lowe's
• 0:17
  company's
• 0:17
  Vice
• 0:18
  president
• 0:18
  of
• 0:18
  Marketplace,
• 0:19
  Michael
• 0:19
  McCluskey.
• 0:20
  Michael,
• 0:21
  let's
• 0:21
  start
• 0:21
  with
• 0:21
  this.
• 0:22
  We've
• 0:22
  been
• 0:22
  seeing
• 0:22
  a
• 0:22
  lot
• 0:23
  of
• 0:23
  momentum
• 0:23
  around
• 0:24
  marketplaces
• 0:24
  with
• 0:25
  top
• 0:25
  retail
• 0:25
  leaders.
• 0:26
  Why
• 0:26
  was
• 0:27
  a
• 0:27
  marketplace
• 0:27
  prioritized
• 0:28
  at
• 0:28
  Lowe's
• 0:29
  and
• 0:29
  why
• 0:30
  now?
• 0:30
  You
• 0:31
  know,
• 0:31
  for
• 0:32
  us,
• 0:32
  Marketplace,
• 0:33
  it
• 0:33
  really
• 0:33
  starts
• 0:33
  with
• 0:34
  creating
• 0:34
  an
• 0:34
  endless
• 0:35
  aisle
• 0:35
  for
• 0:35
  our
• 0:35
  customers.
• 0:36
  Right.
• 0:36
  You
• 0:37
  know,
• 0:37
  the
• 0:37
  unique
• 0:37
  thing
• 0:37
  about
• 0:38
  the
• 0:38
  Lowe's
• 0:38
  customer,
• 0:39
  and
• 0:39
  I
• 0:39
  think
• 0:39
  what
• 0:39
  is
• 0:40
  going
• 0:40
  to
• 0:40
  continue
• 0:40
  to
• 0:41
  differentiate
• 0:41
  us
• 0:41
  quite
• 0:42
  a
• 0:42
  bit
• 0:42
  as
• 0:42
  we
• 0:43
  expand,
• 0:43
  you
• 0:43
  know,
• 0:44
  our
• 0:44
  digital
• 0:44
  experience
• 0:45
  for
• 0:45
  customers
• 0:46
  with
• 0:46
  Marketplace
• 0:47
  is
• 0:47
  that
• 0:47
  our
• 0:47
  customers
• 0:48
  are
• 0:48
  coming
• 0:48
  to
• 0:48
  us
• 0:48
  not
• 0:49
  just
• 0:49
  to
• 0:49
  search
• 0:49
  for
• 0:49
  a
• 0:49
  product,
• 0:50
  but
• 0:50
  they're
• 0:50
  coming
• 0:50
  with
• 0:51
  a
• 0:51
  project
• 0:51
  in
• 0:51
  mind
• 0:51
  or
• 0:52
  a
• 0:52
  problem
• 0:52
  that
• 0:52
  they
• 0:52
  have
• 0:52
  to
• 0:52
  solve
• 0:53
  solve
• 0:53
  for
• 0:53
  their
• 0:53
  home.
• 0:54
  Right.
• 0:54
  And
• 0:54
  so
• 0:55
  we've
• 0:55
  been
• 0:55
  on
• 0:55
  a
• 0:55
  journey
• 0:56
  the
• 0:56
  past
• 0:56
  several
• 0:56
  years
• 0:57
  to
• 0:57
  really
• 0:57
  expand
• 0:58
  our
• 0:58
  digital
• 0:58
  experience
• 0:59
  at
• 0:59
  Lowe's.
• 1:00
  And
• 1:00
  Marketplace
• 1:00
  just
• 1:00
  felt
• 1:01
  like
• 1:01
  the
• 1:01
  natural
• 1:01
  next
• 1:02
  step
• 1:02
  for
• 1:02
  us.
• 1:02
  Right.
• 1:03
  You
• 1:03
  know,
• 1:03
  we
• 1:03
  talk
• 1:03
  a
• 1:04
  lot
• 1:04
  here
• 1:04
  about
• 1:04
  the
• 1:04
  e
• 1:05
  commerce
• 1:05
  journey
• 1:05
  starts
• 1:06
  with
• 1:06
  having
• 1:06
  the
• 1:07
  right
• 1:07
  assortment
• 1:07
  for
• 1:07
  customers.
• 1:08
  And
• 1:08
  we
• 1:08
  knew
• 1:09
  that
• 1:09
  really,
• 1:09
  in
• 1:09
  order
• 1:10
  to,
• 1:10
  you
• 1:10
  know,
• 1:10
  fulfill
• 1:11
  that
• 1:11
  need
• 1:12
  for
• 1:12
  customers
• 1:12
  and
• 1:12
  be
• 1:13
  there
• 1:13
  for
• 1:13
  customers,
• 1:14
  the
• 1:14
  best
• 1:14
  way
• 1:14
  to
• 1:14
  do
• 1:15
  that
• 1:15
  and
• 1:15
  to
• 1:15
  rapidly
• 1:15
  accelerate
• 1:16
  and
• 1:16
  expand
• 1:17
  the
• 1:17
  assortment
• 1:17
  that
• 1:18
  customers
• 1:18
  are
• 1:19
  looking
• 1:19
  for
• 1:19
  these
• 1:20
  days
• 1:20
  was
• 1:20
  to
• 1:20
  do
• 1:20
  so
• 1:21
  via
• 1:21
  a
• 1:21
  marketplace.
• 1:22
  So
• 1:22
  we've
• 1:23
  just
• 1:23
  recently
• 1:23
  launched,
• 1:23
  and
• 1:24
  we're
• 1:24
  really
• 1:24
  excited
• 1:24
  about
• 1:25
  what
• 1:25
  we're
• 1:26
  seeing
• 1:26
  so
• 1:26
  far,
• 1:26
  the
• 1:27
  traction
• 1:27
  from
• 1:27
  customers
• 1:28
  as
• 1:28
  well
• 1:28
  as
• 1:28
  our
• 1:29
  sellers.
• 1:30
  Well,
• 1:30
  Michael,
• 1:31
  you
• 1:31
  mentioned
• 1:31
  endless
• 1:32
  aisle,
• 1:32
  but
• 1:32
  what
• 1:32
  would
• 1:33
  you
• 1:33
  say
• 1:33
  are
• 1:33
  some
• 1:33
  of
• 1:33
  the
• 1:33
  other
• 1:34
  goals
• 1:34
  of
• 1:35
  the
• 1:35
  Lowe's
• 1:35
  Marketplace
• 1:36
  initiative?
• 1:37
  You
• 1:37
  know,
• 1:37
  our
• 1:37
  goal
• 1:38
  at
• 1:38
  Lowe's
• 1:38
  is
• 1:38
  to
• 1:38
  be
• 1:39
  the
• 1:39
  most
• 1:39
  customer
• 1:39
  centric
• 1:40
  omnichannel
• 1:41
  retailer
• 1:41
  out
• 1:41
  there.
• 1:41
  Right.
• 1:42
  And
• 1:42
  so
• 1:42
  when
• 1:42
  you
• 1:43
  look
• 1:43
  into
• 1:43
  the
• 1:43
  home
• 1:44
  space,
• 1:44
  you're
• 1:45
  looking
• 1:45
  at
• 1:45
  total
• 1:45
  home
• 1:46
  total
• 1:46
  addressable
• 1:46
  market
• 1:47
  in
• 1:47
  the
• 1:47
  US
• 1:47
  Is
• 1:48
  roughly
• 1:48
  a
• 1:48
  trillion
• 1:48
  dollars,
• 1:49
  and
• 1:49
  it's
• 1:50
  highly
• 1:50
  fragmented.
• 1:50
  So
• 1:50
  you
• 1:51
  think
• 1:51
  about
• 1:51
  all
• 1:51
  of
• 1:51
  the
• 1:52
  opportunity
• 1:52
  that's
• 1:53
  out
• 1:53
  there
• 1:53
  from
• 1:53
  an
• 1:53
  assort
• 1:54
  perspective.
• 1:55
  Right.
• 1:55
  You
• 1:56
  know,
• 1:56
  our
• 1:56
  goal
• 1:56
  starts
• 1:57
  with
• 1:57
  the
• 1:57
  customer,
• 1:57
  as
• 1:58
  I
• 1:58
  said.
• 1:58
  Right.
• 1:58
  And
• 1:59
  so
• 1:59
  it's
• 1:59
  really
• 1:59
  making
• 1:59
  sure
• 1:59
  that
• 2:00
  we
• 2:00
  continue
• 2:00
  to
• 2:00
  deliver
• 2:00
  on
• 2:01
  a
• 2:01
  frictionless
• 2:02
  customer
• 2:02
  experience.
• 2:03
  You
• 2:03
  know,
• 2:03
  frankly,
• 2:03
  I
• 2:03
  think
• 2:04
  customers
• 2:04
  aren't
• 2:04
  thinking
• 2:05
  in
• 2:05
  the
• 2:05
  lens
• 2:05
  of
• 2:05
  marketplace.
• 2:06
  Right.
• 2:06
  That's
• 2:06
  for
• 2:07
  us
• 2:07
  to
• 2:07
  talk
• 2:07
  about.
• 2:07
  Right.
• 2:08
  But
• 2:08
  they're
• 2:08
  thinking,
• 2:08
  hey,
• 2:09
  was
• 2:09
  Lowe's
• 2:09
  able
• 2:09
  to
• 2:09
  solve
• 2:10
  my
• 2:10
  problem?
• 2:10
  Did
• 2:10
  they
• 2:11
  have
• 2:11
  the
• 2:11
  item
• 2:11
  that
• 2:11
  I
• 2:11
  was
• 2:12
  looking
• 2:12
  for?
• 2:12
  But
• 2:12
  we
• 2:12
  also
• 2:13
  have
• 2:13
  a
• 2:13
  new
• 2:13
  customer
• 2:13
  here.
• 2:14
  As
• 2:14
  we
• 2:14
  expand
• 2:14
  this
• 2:14
  platform
• 2:15
  and
• 2:15
  this
• 2:15
  marketplace,
• 2:16
  we
• 2:16
  also
• 2:17
  are
• 2:17
  treating
• 2:17
  our
• 2:17
  sellers
• 2:18
  as
• 2:18
  a
• 2:18
  new
• 2:19
  customer
• 2:19
  into
• 2:19
  The
• 2:20
  Lowe's
• 2:20
  ecosystem.
• 2:21
  Right.
• 2:21
  So
• 2:21
  our
• 2:22
  ability
• 2:22
  to
• 2:22
  kind
• 2:23
  of
• 2:23
  connect
• 2:23
  the
• 2:23
  seller
• 2:24
  to.
• 2:24
  To
• 2:24
  the
• 2:25
  lowest
• 2:25
  customer,
• 2:25
  a
• 2:26
  customer
• 2:26
  who's
• 2:26
  looking
• 2:26
  to
• 2:26
  solve
• 2:27
  a
• 2:27
  problem
• 2:27
  for
• 2:27
  their
• 2:28
  home,
• 2:28
  is
• 2:29
  really,
• 2:29
  you
• 2:29
  know,
• 2:29
  a
• 2:30
  big
• 2:30
  ambition
• 2:30
  of
• 2:30
  ours,
• 2:31
  and
• 2:31
  we
• 2:31
  think
• 2:31
  we're
• 2:31
  well
• 2:32
  positioned
• 2:32
  to
• 2:32
  deliver
• 2:32
  on
• 2:33
  that.
• 2:33
  So
• 2:33
  our
• 2:33
  goal
• 2:34
  and
• 2:34
  really
• 2:34
  is
• 2:34
  just
• 2:35
  to
• 2:35
  continue
• 2:35
  to
• 2:35
  deliver
• 2:35
  that
• 2:36
  frictionless
• 2:36
  experience
• 2:37
  for
• 2:37
  both
• 2:38
  customers
• 2:38
  as
• 2:38
  well
• 2:39
  as
• 2:39
  our
• 2:39
  seller
• 2:39
  partners
• 2:40
  now.
• 2:41
  Interesting,
• 2:41
  interesting.
• 2:42
  So
• 2:42
  this
• 2:42
  experience
• 2:43
  is
• 2:43
  pretty
• 2:43
  unique.
• 2:43
  And
• 2:43
  there's
• 2:44
  one
• 2:44
  aspect
• 2:44
  of
• 2:44
  it
• 2:44
  that
• 2:45
  I
• 2:45
  want
• 2:45
  to
• 2:45
  learn
• 2:45
  more
• 2:45
  about
• 2:45
  too,
• 2:46
  Michael,
• 2:46
  and
• 2:46
  that
• 2:46
  is
• 2:47
  that
• 2:47
  the
• 2:47
  initiative
• 2:47
  extends
• 2:48
  into
• 2:48
  Lowe's
• 2:48
  pro
• 2:49
  business.
• 2:50
  Can
• 2:50
  you
• 2:50
  tell
• 2:50
  us
• 2:50
  more
• 2:51
  about
• 2:51
  that
• 2:51
  and
• 2:51
  how
• 2:51
  that
• 2:52
  works?
• 2:52
  You
• 2:52
  know,
• 2:53
  the
• 2:53
  pro
• 2:53
  customer
• 2:53
  at
• 2:54
  Lowe's,
• 2:54
  this
• 2:54
  has
• 2:54
  been
• 2:54
  a
• 2:55
  growing
• 2:55
  segment
• 2:55
  of
• 2:55
  our
• 2:56
  business.
• 2:56
  You
• 2:56
  know,
• 2:56
  roughly
• 2:57
  Today,
• 2:57
  we're
• 2:57
  around
• 2:57
  30%
• 2:58
  of
• 2:58
  total
• 2:58
  Lowe's
• 2:59
  business.
• 2:59
  Is
• 2:59
  the
• 3:00
  pro
• 3:00
  customer.
• 3:00
  You
• 3:01
  know,
• 3:01
  who
• 3:01
  is
• 3:01
  that
• 3:01
  customer?
• 3:02
  Right.
• 3:02
  They
• 3:02
  are
• 3:02
  the
• 3:03
  small
• 3:03
  to
• 3:03
  medium
• 3:03
  size
• 3:04
  and
• 3:04
  even
• 3:04
  large
• 3:04
  size
• 3:05
  businesses
• 3:05
  that
• 3:05
  are
• 3:05
  working
• 3:06
  on
• 3:06
  projects
• 3:07
  out
• 3:07
  there.
• 3:07
  And
• 3:08
  what's
• 3:08
  exciting
• 3:08
  for
• 3:09
  us
• 3:09
  is
• 3:09
  again,
• 3:10
  it's
• 3:10
  about
• 3:10
  assortment.
• 3:11
  Right.
• 3:11
  So
• 3:11
  it's
• 3:12
  not
• 3:12
  just
• 3:12
  the
• 3:12
  homeowner,
• 3:12
  the
• 3:13
  do
• 3:13
  it
• 3:13
  for
• 3:13
  me
• 3:13
  or
• 3:14
  do
• 3:14
  it
• 3:14
  yourself
• 3:14
  customer
• 3:15
  that's
• 3:15
  at
• 3:16
  home
• 3:16
  working
• 3:16
  on
• 3:16
  projects,
• 3:17
  but
• 3:17
  it's
• 3:17
  also
• 3:17
  this
• 3:18
  business
• 3:18
  owner
• 3:18
  that
• 3:19
  is
• 3:19
  looking
• 3:19
  for
• 3:20
  assortment.
• 3:21
  And
• 3:21
  we
• 3:21
  want
• 3:21
  to
• 3:21
  be
• 3:21
  able
• 3:21
  to
• 3:21
  sat
• 3:22
  satisfy
• 3:22
  that
• 3:22
  customer
• 3:23
  as
• 3:23
  well.
• 3:23
  Right.
• 3:24
  And
• 3:24
  the
• 3:24
  other
• 3:24
  thing
• 3:25
  I
• 3:25
  think
• 3:25
  that's
• 3:25
  really
• 3:25
  exciting
• 3:26
  for
• 3:26
  us
• 3:26
  is
• 3:26
  when
• 3:26
  you
• 3:27
  think
• 3:27
  about,
• 3:27
  you
• 3:28
  know,
• 3:28
  the
• 3:28
  seller
• 3:28
  experience
• 3:29
  and
• 3:29
  how
• 3:29
  we
• 3:29
  can
• 3:29
  continue
• 3:30
  to
• 3:30
  differentiate
• 3:31
  ourselves
• 3:31
  is
• 3:31
  we
• 3:31
  have
• 3:32
  this
• 3:32
  customers
• 3:32
  for
• 3:33
  our
• 3:33
  sellers.
• 3:33
  So
• 3:33
  they're
• 3:34
  going
• 3:34
  to
• 3:34
  shop
• 3:34
  a
• 3:34
  little
• 3:34
  bit
• 3:34
  differently.
• 3:35
  They're
• 3:35
  shopping
• 3:35
  in
• 3:36
  different
• 3:36
  quantities.
• 3:36
  Right.
• 3:37
  If
• 3:37
  they're
• 3:37
  redoing,
• 3:38
  you
• 3:38
  know,
• 3:38
  a
• 3:38
  building
• 3:39
  and
• 3:39
  doing
• 3:39
  bathrooms
• 3:40
  within
• 3:40
  that
• 3:40
  building,
• 3:41
  they're
• 3:41
  going
• 3:41
  to
• 3:41
  look
• 3:41
  for
• 3:42
  a
• 3:42
  vanity
• 3:42
  or
• 3:43
  mirrors.
• 3:43
  They're
• 3:43
  not
• 3:43
  just
• 3:44
  buying
• 3:44
  one,
• 3:44
  they're
• 3:44
  going
• 3:45
  to
• 3:45
  be
• 3:45
  buying
• 3:45
  in
• 3:45
  bulk.
• 3:45
  And
• 3:46
  I
• 3:46
  think
• 3:46
  that's
• 3:46
  a
• 3:46
  pretty
• 3:46
  compelling
• 3:47
  value
• 3:47
  proposition
• 3:48
  for
• 3:48
  the
• 3:48
  seller
• 3:49
  when
• 3:49
  they
• 3:49
  start
• 3:49
  to
• 3:50
  think
• 3:50
  about
• 3:50
  new
• 3:50
  channels
• 3:50
  that
• 3:51
  they.
• 3:51
  That
• 3:51
  they
• 3:51
  can
• 3:51
  launch
• 3:51
  on
• 3:52
  and
• 3:52
  grow.
• 3:52
  Grow
• 3:52
  their
• 3:52
  businesses
• 3:53
  with.
• 3:54
  I
• 3:54
  love
• 3:54
  this.
• 3:55
  Michael,
• 3:56
  what,
• 3:56
  what
• 3:57
  other
• 3:57
  categories
• 3:58
  do
• 3:58
  you
• 3:58
  think
• 3:58
  that
• 3:58
  you'll
• 3:59
  be
• 3:59
  expanding
• 3:59
  into
• 4:00
  as
• 4:00
  this
• 4:00
  marketplace
• 4:01
  grows?
• 4:01
  We
• 4:02
  think
• 4:02
  about
• 4:02
  the
• 4:02
  marketplace
• 4:03
  really
• 4:03
  as
• 4:04
  fulfilling
• 4:04
  that,
• 4:05
  that
• 4:05
  kind
• 4:05
  of
• 4:05
  torso
• 4:06
  and
• 4:06
  the
• 4:06
  long
• 4:06
  tail.
• 4:07
  Right.
• 4:07
  Where
• 4:08
  there's
• 4:08
  just
• 4:08
  a
• 4:08
  lot
• 4:08
  of
• 4:09
  breadth
• 4:09
  and
• 4:09
  depth
• 4:09
  within
• 4:10
  the
• 4:10
  category
• 4:10
  of
• 4:11
  assortment
• 4:11
  and
• 4:11
  taste
• 4:12
  and
• 4:12
  style.
• 4:12
  Right.
• 4:13
  I
• 4:13
  recently
• 4:13
  just
• 4:13
  moved
• 4:14
  here
• 4:14
  into
• 4:14
  the
• 4:14
  Charlotte
• 4:15
  area.
• 4:15
  And
• 4:15
  as
• 4:15
  we
• 4:15
  think
• 4:15
  about,
• 4:16
  you
• 4:16
  know,
• 4:16
  our
• 4:16
  home
• 4:17
  and
• 4:17
  all
• 4:17
  the
• 4:17
  things
• 4:17
  that
• 4:17
  we
• 4:17
  want
• 4:17
  to
• 4:18
  bring
• 4:18
  into
• 4:18
  it,
• 4:18
  you
• 4:18
  know,
• 4:18
  we're
• 4:18
  finding
• 4:19
  that
• 4:19
  we're
• 4:19
  spending
• 4:19
  a
• 4:20
  lot
• 4:20
  of
• 4:20
  time
• 4:20
  browsing
• 4:21
  online.
• 4:21
  Right.
• 4:21
  So
• 4:22
  you
• 4:22
  Think
• 4:22
  about
• 4:23
  home
• 4:23
  decor,
• 4:24
  furniture
• 4:24
  accents,
• 4:25
  outdoor.
• 4:26
  Right.
• 4:26
  Seasonal
• 4:27
  and
• 4:27
  outdoor
• 4:27
  living.
• 4:28
  But
• 4:28
  even
• 4:28
  getting
• 4:29
  into
• 4:29
  some
• 4:29
  of
• 4:29
  our
• 4:29
  core
• 4:29
  areas,
• 4:30
  like
• 4:30
  tools.
• 4:30
  For
• 4:31
  example,
• 4:31
  the
• 4:32
  opportunity,
• 4:32
  even
• 4:32
  with
• 4:33
  brands
• 4:33
  that
• 4:33
  we
• 4:33
  already
• 4:34
  work
• 4:34
  with
• 4:34
  today,
• 4:35
  to
• 4:35
  extend
• 4:35
  their
• 4:36
  range
• 4:36
  in
• 4:36
  the
• 4:36
  endless
• 4:37
  aisle,
• 4:37
  fashion
• 4:37
  right
• 4:37
  into
• 4:38
  bringing
• 4:38
  all
• 4:38
  of
• 4:39
  what
• 4:39
  they
• 4:39
  offer
• 4:39
  in
• 4:39
  their
• 4:40
  full
• 4:40
  catalog
• 4:40
  onto
• 4:41
  lowe's.com
• 4:41
  will
• 4:42
  really
• 4:42
  help
• 4:43
  our
• 4:43
  customers.
• 4:44
  So,
• 4:44
  you
• 4:44
  know,
• 4:44
  the
• 4:45
  way
• 4:45
  I
• 4:45
  think
• 4:45
  about
• 4:45
  it,
• 4:45
  Chris
• 4:46
  and
• 4:46
  Ann,
• 4:46
  is
• 4:46
  this
• 4:46
  is.
• 4:47
  We're
• 4:47
  not
• 4:47
  trying
• 4:47
  here
• 4:47
  to
• 4:48
  be
• 4:48
  the
• 4:48
  everything
• 4:48
  store,
• 4:49
  but
• 4:49
  we
• 4:49
  do
• 4:49
  think
• 4:50
  we're
• 4:50
  well
• 4:50
  positioned
• 4:50
  to
• 4:50
  be
• 4:50
  the
• 4:51
  everything
• 4:51
  for
• 4:51
  home
• 4:51
  store,
• 4:52
  and
• 4:52
  Marketplace
• 4:52
  is
• 4:53
  going
• 4:53
  to
• 4:53
  really
• 4:53
  help
• 4:53
  us,
• 4:54
  you
• 4:54
  know,
• 4:54
  make
• 4:55
  some
• 4:55
  progress
• 4:55
  on
• 4:55
  that
• 4:55
  front.
• 4:56
  You
• 4:56
  are
• 4:56
  speaking
• 4:56
  my
• 4:57
  home
• 4:57
  furnishings
• 4:57
  digital
• 4:58
  language,
• 4:58
  my
• 4:58
  friend.
• 4:59
  Wow,
• 4:59
  that.
• 4:59
  This
• 4:59
  is
• 5:00
  so
• 5:00
  great.
• 5:01
  All
• 5:01
  right,
• 5:01
  well,
• 5:01
  let's
• 5:01
  get
• 5:01
  you
• 5:01
  out
• 5:02
  of
• 5:02
  here
• 5:02
  on
• 5:02
  this.
• 5:02
  So
• 5:02
  is
• 5:02
  there
• 5:03
  anything
• 5:03
  we
• 5:03
  didn't
• 5:04
  ask
• 5:04
  you
• 5:04
  about
• 5:04
  that
• 5:05
  you're
• 5:05
  excited
• 5:05
  to
• 5:06
  tell
• 5:06
  us?
• 5:06
  What
• 5:06
  I
• 5:06
  would
• 5:06
  just
• 5:07
  leave
• 5:07
  you
• 5:07
  with
• 5:07
  is
• 5:07
  this,
• 5:07
  you
• 5:08
  know,
• 5:08
  a
• 5:08
  couple
• 5:08
  of
• 5:08
  points.
• 5:09
  You
• 5:09
  know,
• 5:09
  we're
• 5:09
  super
• 5:09
  early
• 5:10
  on
• 5:10
  in
• 5:10
  this
• 5:10
  journey,
• 5:11
  right?
• 5:11
  This
• 5:11
  is
• 5:11
  very
• 5:11
  early
• 5:12
  innings
• 5:12
  for
• 5:12
  us
• 5:12
  with
• 5:12
  Marketplace
• 5:13
  and
• 5:13
  Lowe's.
• 5:13
  But
• 5:14
  what
• 5:14
  I
• 5:14
  can.
• 5:14
  But
• 5:14
  what
• 5:15
  I
• 5:15
  can
• 5:15
  tell
• 5:15
  you
• 5:15
  is,
• 5:15
  you
• 5:16
  know,
• 5:16
  the
• 5:16
  opportunity
• 5:17
  is
• 5:17
  massive.
• 5:17
  Right?
• 5:18
  So
• 5:18
  again,
• 5:18
  I
• 5:19
  mentioned
• 5:19
  that
• 5:19
  total
• 5:19
  home
• 5:20
  in
• 5:20
  the
• 5:20
  US
• 5:21
  Total
• 5:21
  addressable
• 5:22
  market,
• 5:22
  we're
• 5:22
  looking
• 5:23
  at
• 5:23
  a
• 5:23
  trillion
• 5:23
  dollars.
• 5:24
  You
• 5:24
  know,
• 5:24
  just
• 5:24
  the
• 5:25
  sheer
• 5:25
  breadth
• 5:25
  of
• 5:25
  items
• 5:26
  that
• 5:26
  we're
• 5:26
  able
• 5:27
  to
• 5:27
  sell
• 5:27
  online.
• 5:27
  We're
• 5:28
  super
• 5:28
  motivated
• 5:29
  and
• 5:29
  encouraged
• 5:30
  also
• 5:30
  by
• 5:30
  the
• 5:30
  early
• 5:31
  traction
• 5:31
  that
• 5:31
  we've
• 5:31
  seen
• 5:32
  since
• 5:32
  we've
• 5:32
  launched
• 5:33
  this
• 5:33
  business,
• 5:33
  both
• 5:33
  from
• 5:34
  customers
• 5:34
  as
• 5:34
  well
• 5:35
  as
• 5:35
  interest
• 5:35
  from
• 5:36
  the
• 5:36
  seller
• 5:36
  community
• 5:36
  to
• 5:37
  partner
• 5:37
  with
• 5:37
  us
• 5:37
  and
• 5:38
  be
• 5:38
  able
• 5:38
  to
• 5:38
  expand
• 5:38
  their
• 5:38
  business
• 5:39
  on
• 5:39
  Lowe's.
• 5:39
  So
• 5:40
  I
• 5:40
  would
• 5:40
  just
• 5:40
  say,
• 5:40
  you
• 5:40
  know,
• 5:40
  expect
• 5:41
  to
• 5:41
  see
• 5:41
  a
• 5:41
  lot
• 5:41
  more
• 5:41
  from
• 5:42
  us.
• 5:42
  We're
• 5:42
  really
• 5:42
  excited
• 5:43
  about
• 5:43
  this
• 5:43
  and
• 5:44
  encouraged
• 5:44
  by
• 5:44
  what.
• 5:44
  What
• 5:45
  we've
• 5:45
  seen
• 5:45
  and
• 5:46
  delivered
• 5:46
  so
• 5:46
  far.
• 5:47
  Great
• 5:47
  stuff,
• 5:47
  Michael.
• 5:48
  Thank
• 5:48
  you.
• 5:49
  Thanks,
• 5:49
  Michael.