Lowe’s opens Petco stores in stores to appeal to ‘nested’ millennials

0
  • Lowe’s is partnering with Petco to open mini-boutiques in its stores.
  • These stores will stock Petco products and offer grooming and vaccination services.
  • The idea is to appeal to millennial buyers who are investing in homes and adopting pets.

Home improvement chain Lowe’s is expanding into the pet world thanks to a new partnership with Petco.

Starting next month, new Petco stores will appear in a select group of Lowe’s stores. The first Lowe’s store to test the concept is located in Alamo Ranch, Texas. Other locations in Texas and North and South Carolina will follow, according to USA Today.

Lowe’s hopes that the new partnership will allow it to win over a larger pool of consumers.

Marisa Thalberg, Lowe’s brand and marketing manager, told USA Today that 60% of people the company spoke with “indicated that they would be more likely to shop at a home improvement retailer. home if they could also buy all their pet needs in one place.”

The new partnership will bring “the best of Petco’s products, services and expertise under the larger Lowe’s roof,” she said. This includes pet food and toys as well as grooming and vaccination services.

The tie-up also aims to appeal to the millennial buyer, an important clientele that buys and invests in homes and adopts pets.

Experts say the pandemic has pushed this generation to embrace the “nesting” mindset, as new remote work opportunities have prompted them to flee the big cities and buy homes in the suburbs.

“People are spending more time at home, investing in making their homes better places to live and better places for their pets,” Petco chief marketing officer Nick Konat said in an interview with USA Today.

According to Apartment List’s Homeownership Study, reported by Insider’s Hillary Hoffower, millennials led all generations in buying a home in 2020.

Share.

Comments are closed.