The upgrades at Lowe's continue.
In 2020 and 2021, Lowe's sales received a lift as people in the U.S. turned to fixing up their yards, tackling DIY projects, and redecorating during the pandemic, CNBC reported. Ellison told the news outlet that the pandemic has inspired people to invest more in their homes, which includes both millennials who are buying their first homes and baby boomers who are fixing up older homes.
"There's been a longer-term shift in the consumer mindset about the importance of the home," Ellison said."Our view of the home is a sanctuary that may need to serve several multiple purposes: residence, office, school, gym, and a gathering place for indoor and outdoor entertainment. And given the extension of remote work, we're expecting a permanent step up in repair and maintenance cycle."This is not the only change Lowe's has lined up for 2022, however. On Jan.
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