Lowes Unveils Iris™ Smart Home Solution

Lowe’s unveiled its newest products and services for Iris™, the retailer’s smart home solution, at CES earlier this month in Las Vegas. Sales for the quarter increased 7.3 percent to $13.0 billion from $12.1 billion in the third quarter of 2012, and comparable sales for the quarter increased 6.2 percent. Lowe’s showcased a slew of connected home device platforms at the 2014 Consumer Electronics Show which offer more safety and efficiency for consumers.

The Lowes Android app for Iris is available for download at Google Play. The new app features a remote control, simple wireless home control and monitoring. Iris is a one-stop solution for creating the smart home of users dreams. With the DIY expertise from Lowe's, Iris lets users set up a reliable and easy to operate system customized to their home. With the Iris app, the phone will now operate as a remote control for the home.

Lowes

The connected home devices featured water shut-off valve that cut water supply when a leak is detected to a voice control feature. Iris’s initial debut was in 2012. “Our goal when creating Iris was to make home automation systems simple, affordable and able to grow with customers’ evolving needs,” said Kevin Meagher, Lowe’s vice president and general manager, Smart Home. “Lowe’s relationship with our vendors allows us to develop and deliver the broadest range of connected home solutions to make homes safer, more efficient and easier to manage.”

Lowes is currently investing to improve the customer's in-store experience. Its consumers are adapting a more resilient mindset and resulting in embracing a broader perspective towards company retail campaigns. The retailer has seen significant signs of improvements within the consumer landscape post recession. The implementation of mobile functionality has helped its customers locate products in their stores. Customers can create a shopping list and plan their route before arriving at the store. While there, they can check items off the list as they shop, ensuring they get everything they need accurately and efficiently. The company plans to further improve customer experience in 2014.

The company expects to open 9 stores in fiscal year 2013. As of November 1, 2013, Lowe's operated 1,831 home improvement and hardware stores in the United States, Canada and Mexico, representing 200.1 million square feet of retail selling space. Total sales are expected to increase approximately 6 percent. Comparable sales are expected to increase approximately 5 percent.