Lowe’s Invites Applications for Live Product Sourcing Event

Lowe’s is inviting businesses to apply for an opportunity to pitch their products in person.

The 1,700-store home improvement company will hold its second live product sourcing event June 13 at the Lowe’s Tech Hub in Charlotte, North Carolina, and invites interested potential suppliers to apply before March 20, Lowe’s said in a Monday (March 6) press release.

During the first “Into the Blue: Lowe’s Product Pitch Event,” which was held in November 2022, Lowe’s selected 270 applicants to pitch their products and, as a result, is now onboarding 170 new vendors, according to the press release.

“We couldn’t wait to do it again, so while we continue to work with last year’s winners to bring their products to market, we’re once again issuing the call to meet with more business owners and uncover products that will ultimately bring the latest innovations in home improvement to our customers,” Lowe’s Executive Vice President of Merchandising Bill Boltz said in the release.

The call for applications for the event comes at a time when Lowe’s says both the professional and do-it-yourself (DIY) segments of the home improvement business look solid.

During its quarterly earnings call held March 1, Lowe’s Chairman, President and CEO Marvin Ellison said consumers remain engaged in home-related activities and 70% of the company’s pro customers said they remain confident in their ability to find jobs and hold on to their backlog of booked jobs.

“From our perspective, the core drivers of our business, disposable personal income, home price appreciation and the age of housing stock remained supportive,” Ellison said at the time.

At this year’s “Into the Blue” event, Lowe’s will select businesses in which it will invest up to $5 million in purchase orders, according to the press release.

In addition to offering potential suppliers access to Lowe’s stores and Lowes.com, the in-person event will provide networking opportunities, a supplier fair and educational breakout sessions, the release said.

Walmart, too, has found value in holding sourcing events and has done so for nine years.

During its Open Call event held in June 2022, Walmart invited close to 1,200 small and medium-sized businesses (SMBs) to pitch their products to Walmart and/or Sam’s Club merchants.

“The entrepreneurial spirit is contagious, and that energy is a big part of what makes Open Call so much fun,” Scott Gutche, Walmart senior director, U.S. manufacturing, said at the time.