Lowe’s announces free offer for customers amid struggles | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Lowe’s has its sights set on holiday shoppers as it struggles to significantly boost sales amid economic uncertainty.

During the third quarter of this year, the home improvement retailer’s comparable sales only increased by 0.4% year over year, according to its latest earnings report. In addition, recent data from Placer.ai found that foot traffic in Lowe’s stores decreased by 0.1% during the quarter compared to the same time period last year.

During an earnings call last month, Lowe’s CEO Marvin Ellison said that affordability concerns among consumers and high interest rates in the housing market are impacting sales.

“Affordability and uncertainty in the broader economy continue to weigh on consumer confidence, particularly when it comes to larger discretionary purchases, as borrowing costs have been elevated for longer than originally anticipated,” said Ellison.

Since 2022, the average 30-year mortgage rate in the U.S. has remained above 6%, prompting many consumers to avoid purchasing new homes while affordability remains a concern. Despite challenges, the U.S. housing market is slowly recovering, as interest rates have declined in recent months.

Lowe’s is experiencing slow sales growth in its stores during a time of economic uncertainty.

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How the U.S. housing market performed in October 2025:

The average 30-year fixed-rate mortgage in October was 6.25%, down from 6.35% in September.
Existing-home sales rose by 1.2% month over month.
Specifically, month-over-month U.S. home sales increased in the Midwest and South, but remained flat in the Northeast and declined in the West. Sources: National Association of Realtors, Freddie Mac

“First-time homebuyers are facing headwinds in the Northeast due to a lack of supply and in the West because of high home prices,” said NAR Chief Economist Lawrence Yun in a press release. “First-time buyers fared better in the Midwest because of the plentiful supply of affordable houses and in the South because there is sufficient inventory.”

Lowe’s confirms another free offer for holiday shoppers

As Lowe’s battles shifts in customer behavior in light of economic challenges, it is ramping up its deals to attract customers during the holiday season.

Last week, during Black Friday, it gave away free Lowe’s buckets full of products worth up to $100 to the first 50 MyLowe’s Rewards members who entered their stores at 6 a.m., along with a chance to win a major home appliance worth up to $2,000.

Now, Lowe’s is planning to launch another free offer to customers. On Dec. 13 at 10 a.m., the retailer will give away free holiday mugs to MyLowe’s Rewards members, according to a recent post on Lowe’s Instagram page.

The holiday mug is shaped like a mini bucket and features a blue design with a white snowflake pattern. The first 200 MyLowe’s Rewards members who enter stores on Dec. 13 will receive this exclusive mug while supplies last.

The move from Lowe’s follows in the footsteps of Starbucks, which caused a frenzy last month with the release of its “Bearista” glass cup in stores, which sold out almost immediately after launching.

Supplies were extremely limited, with only a few cups available for purchase, which angered customers who waited in long lines at Starbucks stores nationwide.

Lowe’s bets on loyalty to boost sales during critical time of the year

Lowe’s free offers to customers, specifically MyLowe’s Rewards members, come after Ellison said during the company’s earnings call last month that the MyLowe’s Rewards program, which is free, is playing a vital role in boosting customer spending in stores.

“Our 30 million MyLowe’s Rewards members shop twice as often and spend over 50% more than nonmembers,” said Ellison. “Through both our DIY and pro loyalty programs, we’re gaining deeper customer insights, which help us tailor more personalized, value-enhancing offers through data-driven marketing.”

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The offers also come during a time when Lowe’s and many retailers are expecting a bustling holiday season this year, despite consumers being more cautious about their spending.

Consumers are still prioritizing holiday shopping this year, but with a focus on obtaining deals.

How U.S. consumers plan to shop during the 2025 holiday season:

Consumers plan to spend $890.49 per person on average this year on holiday gifts, food, decorations and other seasonal items, as 85% expect to pay higher prices due to tariffs.
Additionally, 42% of consumers started their holiday shopping before November, with budgeting being the primary reason for the early start.
Approximately 60% of consumers plan to finish their holiday shopping in December. Source: National Retail Federation

“Despite consumers’ economic concerns, the winter holidays remain an important occasion to celebrate with loved ones,” said Prosper Executive Vice President of Strategy Phil Rist in a press release. “This is particularly true for those families with children who are expected to increase their gift budgets by more than $30 on average.”