Technology is quickly changing the retail experience. To stay ahead of the curve, Lowe's created its Innovation Labs, to help customers and employees solve problems in their day to day. Kyle Nel, founder and executive director of Lowe's Innovation Labs, gave Cheddar an inside look at the new technology the company is working on. He says AR and VR are its main focus right now. The company is testing out its Holoroom, a virtual reality design and visualization tool that allows homeowners to have an immersive home improvement experience, at few locations around the country. Nel says that hiring science fiction writers to sit around and envision fantastical futures, is at the core of Lowe's innovation strategy. The writers are complemented by a second team that actually make those ideas a reality, he said.

Share:
More In Business
Reddit’s IPO Hits the NYSE
As Reddit shares begin trading at the NYSE, ‘Einstein of Wall Street’ Peter Tuchman breaks down the social platform’s debut and what it means for the overall IPO market in 2024.
Reason to be Bullish After the Fed Decision
After the Fed forecast three cuts to come in 2024, Kevin D. Mahn, President and CIO at Hennion & Walsh Asset Management breaks down why the market looks strong, and he sees some reasons for concern in Reddit’s choice to IPO.
Load More