Our repair services program for major appliances is another way we are simplifying customers’ experiences. With a goal to increase our share position in major appliances, we surveyed customers and found that after-sales service was important to them. Therefore, we now own the repair experience, including taking the phone call, diagnosing the problem and facilitating the resolution. One of the most important benefits of this program is improving customer satisfaction by managing the experience. We tested this model in more than 100 stores for over a year and found that it positively affected customer satisfaction and resulted in incremental repeat visits to make purchases across the store. In addition, we expect to realize cost savings through lower appliance return rates and identification of quality concerns that we can work with our vendors to resolve.
We will also provide a personalized approach to project management and information sharing through the early 2011 foundational release of MyLowe’s, a Web portal that allows customers to manage their home and their relationship with Lowe’s. MyLowe’s will provide ways to more dynamically share project information between customers and our employees, and will allow customers to directly access their transaction history and extended protection plan information. Additionally, they will be able to subscribe to have certain maintenance products shipped directly to their homes at selected intervals.
We have reached another point in our lifecycle where we must adapt to maintain our growth in the home improvement business. Our entire organization is focused on making the promise of a better, more seamless customer experience a reality. We are executing this strategy today, and we have the plans in place to better execute in the future.
