Lowe's decision to purchase 42,000 iPhones and to begin using a similar payment system as used in Apple Stores, is important as it is a another step in positioning the iPhone and iPad as powerful business tools that further blur the line between ecommerce and traditional retail.
Like in an Apple Store, checkout will no longer need to take place at a cash register, but rather anywhere on the Lowes sales floor via an iPhone that will process the sale and charge a credit/debit card.
Each Lowes store will receive 25 iPhones to process payments and answer customers’ questions. Lowe’s will also roll out a web app called MyLowe’s that will allow customers to look up wide range of information regarding products and warranties and also plan home improvement projects.
Using mobile devices in this way is not revolutionary and Lowes is simply following other retailers like Home Depot (which gave employees Motorola Inc. handheld devices last year) and Old Navy into the fray.
But it is an extremely important area of growth for Apple going forward and one that some money managers have already identified as a key driver of the stock in 2012 and beyond.
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See Also:
- Business Insider Research Morning Call 9/7/11
- Business Insider Research Morning Call 9/8/11
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