Change is all around us, and certainly no business is immune. Even a centuries-old industry like retail has to adapt to the constantly changing needs and habits of consumers.
Fortunately, Lowe’s has always taken the hard steps needed to adapt. And for the last six years we’ve been adapting by meeting customers whenever and wherever they choose to engage with us, with simple and seamless solutions for their home improvement needs. But to get ahead of the curve, and remain relevant in the future, we have to do more than simply adapt. We have to innovate.
To innovate is to find new ideas, develop new methods, design new products and deliver new services. It’s taking something that exists and improving it so completely that it feels new, or bringing something so different to the table that it changes the industry or the market. This is the spectrum of innovation, from everyday improvements to radical disruption, and there is tremendous value to Lowe’s in playing across the spectrum because this is where we find the processes and solutions that help us better connect with customers.
Over the last 70 years, we’ve learned a lot about home improvement, about what customers want and need, and about the products and services that help them love where they live. By investing in everyday innovations and improving on what we already have and know, we give ourselves the opportunity to evolve in areas like product concepts, marketing tools and customer data. That’s everyday innovation: updating and upgrading what we have, and what we know, to make it better.
There’s room for improvement in everything we do, in every process we put in place, in every concept that makes the journey from idea to deployment.— Robert Niblock
But the best part of everyday innovation is that it never stops. There’s room for improvement in everything we do, in every process we put in place, in every concept that makes the journey from idea to deployment. And behaviors like giving open and honest feedback, valuing voice and expression, and advocating for customers and each other, are catalysts for the kind of everyday innovations that make a difference to our business.
I’ve challenged every employee at Lowe’s to think about how they can be an everyday innovator, to think about the changes they can make to the way they do things, to the processes they work with, and to the outputs they’re responsible for.
I also encourage you to read the upcoming innovation series “Designed to Disrupt,” where Richard Maltsbarger, our chief development officer, will explore the disruptive end of the innovation spectrum.