Lowe's has a plan to compete more effectively this holiday season. It has its eye on arch-rival Home Depot, of course, but also on less traditional competitors such as Best Buy. The home improvement retailer is varying its product assortment, adding items like scooters, trampolines, and even air fryers. It is also offering early holiday deals to compete with those of virtually every other retailer.
The fourth quarter is usually home improvement store chains' slowest; spring is peak season for them. But with the addition of products that are easier to gift than power tools and generators, Lowe's hopes to duplicate the success rival Home Depot has had with such a strategy.
As detailed by Fortune earlier this year, Home Depot has gradually increased the assortment of merchandise that can be Christmas gifts, such as small tools, batteries as stocking stuffers, and even toys over the years to great effect.