As a savvy senior shopper, you know that every penny counts when it comes to stretching your retirement budget. With the rising costs of home maintenance and upgrades, many budget-conscious seniors flock to home improvement giants like Lowe‘s in search of a good deal. But does Lowe‘s offer a senior discount to help those golden savings add up?
The short answer is no. Unlike some popular retail chains, Lowe‘s does not provide any special discounts for senior citizen customers. This may come as a surprise, considering that the senior population is one of the most powerful consumer groups in the country.
In fact, according to the U.S. Census Bureau, there are over 54 million Americans aged 65 and older, and this number is projected to nearly double by 2060. The Bureau of Labor Statistics also reports that households headed by someone 65 and older spend an average of $50,220 per year. That‘s a lot of purchasing power!
So why doesn‘t Lowe‘s court these valuable shoppers with an exclusive discount? I did some digging to find out.
Why Doesn‘t Lowe‘s Have a Senior Discount?
Despite the obvious appeal of senior discounts, Lowe‘s is not alone in forgoing this promotion. Their biggest competitor, The Home Depot, also does not offer any special savings for seniors. I reached out to both companies‘ media relations departments for more insight into this policy decision.
"While we do not offer a senior discount, we provide many other ways for customers to save," said a Lowe‘s spokesperson. "This includes our MyLowe‘s loyalty program, weekly sales, price match guarantee, military discount and more. We believe this allows us to provide savings to a wider range of customers."
A representative from The Home Depot expressed a similar sentiment. "Our focus is on providing everyday low prices and value for all customers," they explained. "We have many programs in place to help customers save on home improvement projects, regardless of age."
This rationale seems to be common among home improvement retailers. Menards, another popular chain in the midwestern U.S., also does not have senior discounts. "We strive to offer the lowest prices every day to all guests," said Jeff Abbott, a Menards spokesperson.
The Psychology of Senior Discounts
So if seniors have such strong spending power, why not single them out with an exclusive discount? Retail experts say it‘s not so simple.
"Senior discounts can be a double-edged sword," said Dr. Kit Yarrow, consumer psychologist and author of Decoding the New Consumer Mind. "On one hand, they make older shoppers feel valued and can drive loyalty. But on the other hand, they can alienate younger shoppers who feel left out. Retailers have to weigh the pros and cons carefully."
There‘s also the issue of changing demographics and attitudes around aging. "The traditional senior discount model was based on the assumption that older shoppers were on a fixed income and needed extra help," said Yarrow. "But today‘s seniors are healthier, wealthier and more active than ever before. Many don‘t identify with the ‘senior‘ label at all."
A 2019 survey by the National Retail Federation found that 89% of respondents over 50 felt that retailers didn‘t understand them. Perhaps this is why some stores are shifting away from age-based discounts to more inclusive loyalty programs.
"Ultimately, seniors want to be treated like any other customer," said Georganne Bender, a retail expert and strategist who has consulted for major chains. "They want fair prices, good service and respect. A senior discount is just a cherry on top, not the main attraction."
How Seniors Can Still Save Big at Lowe‘s
So if Lowe‘s doesn‘t put out the welcome mat for seniors with an exclusive discount, how can mature shoppers still get the most bang for their buck? As a veteran bargain hunter, I‘ve uncovered plenty of insider tips and tricks. Here are some of the best ways seniors can save at Lowe‘s:
1. Join MyLowe‘s Loyalty Program
Signing up for the free MyLowe‘s loyalty program is a must for any frequent Lowe‘s shopper, senior or not. Members get access to exclusive offers, discounts and promotions throughout the year. You‘ll also enjoy perks like free shipping on eligible orders, digital receipts and tracking, easier returns and more. It takes just a few minutes to enroll online or in-store.
2. Wait for Seasonal Sales Events
Lowe‘s may not have age-based discounts, but they do offer plenty of storewide sales that can add up to big savings. Some of the best Lowe‘s sales to shop include:
| Sale Event | Typical Timeframe |
|---|---|
| Spring Black Friday | April |
| Memorial Day Sale | May |
| 4th of July Sale | June/July |
| Labor Day Sale | September |
| Black Friday | November |
During these events, you can often save up to 40% on appliances, tools, outdoor furniture and more. Seniors with flexible project timelines can plan ahead and wait to buy during these peak promotions.
3. "Stack" Deals with Competitor Coupons
One of the most underrated ways to save at Lowe‘s is by utilizing competitor coupons. Lowe‘s will accept valid coupons from other home improvement stores like Home Depot, Menards and Ace Hardware. Even better, you can often "stack" these competitor coupons with Lowe‘s own sales and promotions for maximum savings.
For example, let‘s say Home Depot has a coupon for $25 off a purchase of $100 or more. If Lowe‘s is also running a sale on the item you want, you could get the sale price AND the $25 off. Just show the cashier the competitor coupon at checkout and watch your savings multiply!
4. Negotiate Price Matching
Did you know that Lowe‘s offers price matching both in-store and online? If you find a lower price on an identical item at another local retailer, Lowe‘s will match it. They‘ll also match prices from select online competitors like Amazon, as long as the item is sold and shipped by Amazon itself (not a third-party seller).
To get the best deal, I recommend doing a quick online search for the item you want before heading to Lowe‘s. Check prices at Home Depot, Walmart, Menards, etc. and print out or screenshot any lower advertised prices you find. Bring this proof with you when you shop and show it to a Lowe‘s associate to negotiate your price match. Easy!
5. Earn Cash Back with the Right Credit Card
Another way to essentially create your own Lowe‘s "discount" is by using a cash back credit card. Some cards, like the Lowe‘s Advantage Card, offer 5% cash back on all Lowe‘s purchases. You can also find general cash back cards that offer 1-5% back at home improvement stores.
Just be sure to pay off your balance in full each month to avoid interest charges that cancel out your cash back savings. Seniors on a fixed budget should be especially wary of store credit cards with high APRs. But when used strategically, a cash back card can be a smart way to save on larger Lowe‘s purchases.
6. Ask for a Military Discount (If You Qualify)
Lowe‘s may not have a senior citizen discount, but they do offer a 10% military discount to active duty personnel, veterans and their immediate family members. This discount is available year-round and can be used on eligible full-price purchases in-store (some brand exclusions apply). To receive the discount, simply present a valid photo military ID or other proof of service at checkout.
It‘s important to note that the military discount cannot be combined with Lowe‘s credit card 5% discount or other promotions. But for seniors who have served our country, this can still be a valuable way to save on home improvement needs.
7. Take Advantage of Bulk Discounts
Seniors working on larger renovation projects may be able to snag bulk discounts at Lowe‘s. The store‘s ProServices program provides exclusive savings for professional contractors and other high-volume customers. But even if you‘re not a pro, you may be able to negotiate a bulk rate on large orders of lumber, tile, mulch and other project materials.
It never hurts to ask a store manager or ProServices representative if they can work with you on pricing for bigger purchases. This is especially true if you‘re buying during a slower time of year for home improvement retail, like the winter months.
The Bottom Line
While it‘s true that Lowe‘s doesn‘t have a dedicated senior discount, there are still plenty of ways for savvy seniors to save on home improvement purchases. By combining strategies like price matching, loyalty programs, seasonal sales and more, shoppers of any age can score deals that rival a traditional senior discount.
"Retailers are getting smarter about how they approach discounts," said Bender. "Instead of focusing on age, they‘re rewarding shoppers based on loyalty and engagement. Seniors who take the time to understand these programs and promotions can still come out ahead."
As Dr. Yarrow put it, "The key is to be a proactive, informed consumer. Don‘t wait for a senior discount to fall into your lap. Seek out savings wherever you can, and don‘t be afraid to negotiate or ask for a better deal. A little bit of homework can make a big difference at the cash register."
So go ahead and tackle that kitchen remodel or backyard project with confidence. With a strategic savings approach, you can complete all your Lowe‘s home improvement goals without blowing your retirement budget. That‘s a deal worth celebrating at any age!
Sources
- "2020 Census Will Help Policymakers Prepare for the Incoming Wave of Aging Boomers" – U.S. Census Bureau
- "Consumer Expenditures in 2019" – U.S. Bureau of Labor Statistics
- "How the Over-50 Crowd Sees Retail: Misunderstood, Underserved" – National Retail Federation
- "Decoding the New Consumer Mind" – Kit Yarrow
- Interview with Georganne Bender, retail consultant and strategist
){kind=link}