Lowe's becomes Instacart's first home retail partner

Lowe's and Instacart have joined forces to pilot same-day delivery for tens of thousands of home improvement products. In doing so, Lowe's is making its mark as the first home improvement retailer featured on the grocery platform. 

Ticker	Security	Last	Change	Change %
LOW	LOWE'S COMPANIES INC.	232.13	+2.55	+1.11%

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The two companies announced the partnership Wednesday to address a "growing consumer need as both home improvement product purchases and demand for online delivery continue," Instacart said. 

The partnership will first focus on delivering items in as fast as one hour in two markets before expanding to other areas in the coming months. Instacart users in Boston and Charlotte will be the first to get various items including small home appliances, building supplies, light fixtures, garden and outdoor essentials delivered to their door, Instacart announced. 

The partnership is kicking off as consumers throughout North America continue to embrace the "do it yourself mentality," Chris Rogers, vice president of retail at Instacart, said. He noted that demand for such home improvement essentials on the platform rose more than 50% last year compared with 2020. 

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Throughout the pandemic, home improvement retailers have had success as many people took on new projects and even moved into new homes. This newly established partnership will allow Instacart to capitalize on the success while giving Lowe's another way to keep boosting its already strong sales. 

Lowe's, which just reported strong fourth-quarter earnings and an upbeat forecast for 2022, said the partnership is part of an effort to "explore a suite of solutions to meet our customers' same-day and next-day delivery needs." 

The Associated Press contributed to this report.