The news: Lowe’s is remodeling its Lowe’s One Roof Media Network, which initially launched in October 2021.

• It simplified the name to Lowe’s Media Network and gave it a fresh logo.
• It shared its blueprint to extend its reach via expanded placements on the Lowe's app, alongside four new channels launching this year: email, in-store audio, paid search, and direct mail for install services.

The rationale: Lowe’s is making a play for retail media ad dollars at a critical moment in the channel’s trajectory; we expect retail media ad spending will surpass linear TV ad spending next year and exceed all of traditional media ad spending combined in 2026.

Lowe’s pitch is that it can help brands “reach the right audiences in a localized, relevant, and personalized way,” said John Storms, general manager and head of Lowe's Media Network, in a statement. “That includes finding new and different ways to get our brands in front of customers, whether they're looking for inspiration or ready to make a purchase.”

• That drove the retailer to expand its retail media channels to ensure it can serve a diverse array of business goals that include raising awareness, launching a new product, driving traffic, and boosting sales.
• It did so by expanding its portfolio of omnichannel advertising solutions and services: onsite native display and sponsored product ads on Lowes.com and the Lowe's app; omnichannel programmatic activations across display, video, connected TV, streaming audio and podcasts, and digital out-of-home with Yahoo DSP; offsite advertising placements including email, paid search, and social media with partners like Google, Meta, and Pinterest; and audio advertising in Lowe's stores.

The big takeaway: While Amazon is the clear 800-pound gorilla in the retail media universe, there’s plenty of opportunity for other players like Lowe’s to grab a piece of an ever-growing pie if they can help advertisers reach a unique consumer segment.

Go further: Read our Retail Media Ad Spending Forecast H1 2024 report.