Lowe's acquired the Retail Analytics platform from Boomerang Commerce. The technology will be integrated into the company's core retail business in order to bolster strategic and data-driven pricing and merchandise assortment decisions across Lowe's businesses.
The platform provides a retail analytics solution that processes product and pricing datasets to convert them to insights and actions. The acquisition is designed to assist in modernising and digitising Lowe's approach to pricing.
"One of the key components of our transformation here at Lowe's is to modernise our technology. Pricing and Assortment Planning have been identified as strategic areas in need of modernisation," says Seemantini Godbole, Lowe's Chief Information Officer.
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