Business

Lowe’s Ellison, Wayfair’s Shah Foretell Tech’s Surging Retail Impact – HomeWorld Business

As part of a seminar at the National Retail Federation’s Big Show Chapter 1, an ongoing virtual event to be followed in June by a now virtual Chapter 2, Marvin Ellison, president and CEO of Lowe’s and Niraj Shah, co-founder and CEO of Wayfair, discussed the development of their companies before and through the COVID-19 pandemic. The retail executives then looked beyond at a future when the application of technology will improve and simplify the consumer shopping journeys and purchase decisions.

In application, technology as Ellison and Shah see it developing, will give consumers now options and means of shopping for housewares and home furnishings.

For Ellison, the future holds simplicity. Ellison noted that since his tenure at Lowe’s began in July, 2018, he has focused on the home-focused core of the company’s business. Lowe’s has been able to present itself to customers as a solution for their needs across households. Lowe’s will use technology to improve the shopping experience by making it easier via initiatives that are invisible to customers and even the employees serving them, Ellison said.

“As we think about the future, we take a step back and ask one simple question,” he said. “What is in the best interest of our customers? So everything we try to do is not about our competition, it’s not trying to replicate or predict what will happen in the macro environment. It’s really about being customer-centric and asking the questions: What do we do as a company that will give the
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