Shoptalk 2019: How Lowe’s, Tapestry, Pinterest CEOs Adapt To Retail Transformation

While Nordstrom and Macy’s led off Shoptalk 2019 sharing their views on where they need to improve their businesses going ahead, the CEOs of Lowe’s, Pinterest and Tapestry took the keynote stage to share the strategies their companies have adapted to cater to evolving customer needs.

Lowe’s is no stranger to working with the consumer, but the home improvement retailer has experienced plenty of changes in recent years that require a new approach to how store associates do their job on a daily basis, according to CEO Marvin Ellison. While Lowe’s generates approximately $4 billion in e-Commerce revenue, 70% of those transactions are picked up in, or fulfilled from, the store. In fact, 30% of shoppers that use buy online/pick up in-store will buy additional items upon their visit, showing that integrating both channels drives further company growth.

Ellison touched on how the retailer’s culture plays a big part in enabling associates to drive this success through every channel. Ellison revealed that upon taking the position in July 2018, he spent his first three days at stores to work in various departments and get to know the hourly employees in each location.

“It’s about creating an emotional connection between the bigger organization and the working individuals that are front-line leaders of the company,” Ellison said. “Whether you’re a service business or a retail business, who is on the front line? Who’s in the call center? Who’s in the stores? Who’s the closest to touching the customer? Is there any communications between the leader of the organization and its individuals?”

Ellison said one of his first acts as CEO was to give out his personal email to employees and answers their questions personally. Additionally, he takes part in a five-minute video podcast every week, touching on company news and sharing the state of the retailer with employees.

Lowe’s CMO Jocelyn Wong backed up Ellison’s point of view in another track keynote, noting that the store associates boost consumer engagement better than any marketing campaign could. Last year, the retailer even started featuring real employees in their ad campaigns, whereas previously they had hired…