Veterans discount at Lowe's

You can no longer "just show your ID". :-\  You have to sign up.  Rather than give my personal information, I have switched to Home Depot.

Since Lowes either already had the information from previous purchases or it was public information anyway, I had no qualms about signing up for MyLowes and the vets discount.

We've taken advantage of the Lowe's vets discount for years.  With our latest purchase they put us into the "system".  All they asked was our address (available from many sources anyway) and our phone number (so that we no longer have to show the Vets card and can just give them the phone number for future purchases).  I don't consider that information invasive at all.  We have purchased two refrigerators and some expensive flooring from them in the past.  Nice discount!

At the beginning of July I posted a list of military and veterans discounts that was put out by DEALNEWS
URL: https://www.dealnews.com/features/Oorah-Ka-Ching-Guide-to-Military-Discounts/1114657.html

Rene T said:

I called HD and they said they only give on special occasions like Veterans day, 4th of July and there may have been another one.

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Home Depot does give the discount every day for service-connected veterans.

Home Depot has different policies for active duty and other military service categories:

"The Home Depot offers a year-round, 10 percent discount, up to a $500 maximum, at our U.S. stores to all active duty military personnel, reservists, retired or disabled veterans and their immediate families. We offer this discount to thank them for their outstanding service to this nation and to help make their homes more comfortable and safe. Customers requesting the discount should present a valid military ID."

"In addition, a 10 percent discount is also offered in recognition of Memorial Day, Fourth of July, Labor Day and Veterans Day at all U.S. Home Depot stores for all other military veterans."
(emphasis added)


https://themilitarywallet.com/home-depot-lowes-10-military-discount/

NY_Dutch said:

Home Depot has different policies for active duty and other military service categories:

"The Home Depot offers a year-round, 10 percent discount, up to a $500 maximum, at our U.S. stores to all active duty military personnel, reservists, retired or disabled veterans and their immediate families.

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FWIW, our local Home Depots don't even ask to see any proof. Mike has often started to pull out his VA card that shows SC and the cashier just says, that's ok.


Your experience may vary. But I'd ask.

Wendy said:

FWIW, our local Home Depots don't even ask to see any proof. Mike has often started to pull out his VA card that shows SC and the cashier just says, that's ok.


Your experience may vary. But I'd ask.

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I always ask at Home Depot, but with mixed responses in various locations. My Lowes discount is never questioned. I hand them or swipe my card and the discount appears on the receipt. Online is never a problem either.

NY_Dutch said:

I always ask at Home Depot, but with mixed responses in various locations. My Lowes discount is never questioned. I hand them or swipe my card and the discount appears on the receipt. Online is never a problem either.

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Same here and I don't even have a card. I registered with them some years back and now all I do is give them my phone number.  At HD, I just show my gray ID.

Its great that we get a discount, but sadly the bottom line is that they probably markup the items at 30-40% anyway so they are def not losing any money. Even if they did, it would be loss leader for them.  For those not in business that dont know what a loss leader is, a company loses money on one item to make money on something else.  Loss leaders are used by businesses world wide to get you in the store or on their website.

durangod said:

Its great that we get a discount, but sadly the bottom line is that they probably markup the items at 30-40% anyway so they are def not losing any money. Even if they did, it would be loss leader for them.  For those not in business that dont know what a loss leader is, a company loses money on one item to make money on something else.  Loss leaders are used by businesses world wide to get you in the store or on their website.

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You definition of loss leaders is accurate but, in my experience, your accusation that they are marking it up anyway (to overcome the military discount) is not too accurate with respect to Lowes, at least not on many of the items I buy.  You see I try to do price comparisons with Walmart or other stores that handle the same products.  In the garden supplies area, Lowes pretty much matches Walmart so that 10 percent is over an above what I would get there.  Large items, if purchased when on special sale can result in even larger savings since that 10 percent goes on regardless of any other sale price  on the item.  I guess I am just happy to add another 10 percent discount that most other people will not get.  Most of the times it makes the difference that brings me into Lowes.

Bill

johnaye said:

You can no longer "just show your ID". :-\  You have to sign up.  Rather than give my personal information, I have switched to Home Depot.

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Not true, at least at my Lowes.  I have signed up and have a My Lowes card but yesterday a fellow in line behind me saw me get a discount and asked what he needed.  The cashier said "Just a military ID card or you can sign up and not even need that."

Bill

Hi Bill,

I think you misunderstood what i was saying a bit.  I did not mean that they were marking up to offset the cost of the 10%.  It was more of a general comment about the fact that all businesses usually mark things up 30-40 percent or more.  So when any business offers a percent off, they are just reducing their profit but they dont lose money.   

Huge discounts is one way to help the consumer get an idea of how much a business marks something up.  Lets say that a business offers 50% discount.  Well two things may be happening.  One - they marked the item up over 50% so their profit is still there.  Two - its a loss leader to get you into the store because they know you will buy something while you are there.

Grocery stores are famous for this tactic - why do you think the always include milk on sale in their ads.  Its because many of them keep their milk in the very back of the store.  So that means you have to walk all the way to the back to get milk.  Now along the way (most everyone) thinks of something else they need or will need soon so the grocery store always gets another sale. 

Casino's also use this tactic -  I dont gamble now but when i lived in vegas i did and they use this tactic as well.  Their loss leaders are free buffet's, sometimes free drinks if you are playing, and other free items.  They lose money on the buffet's and drinks, but they make it up probably 4x what they lose if they can keep you playing. 

So yes on the individual level any discount is great and helps out tremendously.  But on a wider scale the discounts from the business point of view is that they just get more volume of customers which equates to more sales.   

So are they motivated by income or real respect for our service....  noone knows really.

The bottom line is that veterans and other discounts save me money. The reasons why companies give them is irrelevant. Do I buy from a company because they give the discount? Or do I buy from them because they have the lowest price with the discount. Of course I also buy from specific companies at times because they have the product I want, regardless of whether they offer a discount or not.

durangod said:

Hi Bill,

I think you misunderstood what i was saying a bit.  I did not mean that they were marking up to offset the cost of the 10%.  It was more of a general comment about the fact that all businesses usually mark things up 30-40 percent or more.  So when any business offers a percent off, they are just reducing their profit but they dont lose money.   

 

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Dave, good answer but I think you left out one huge factor - expense on the part of the retailer.  After I retired from the military I did in fact own a small town grocery (advice -never do that) and while I did mark up 30-40% my actual profit margin was in the 4-5 percent range.  Some of the big box grocery stores operate on a 3-4 percent actual profit margin.  You see expenses such as electricity, rent, payroll take up the bulk of that seemingly huge markup.  Anyway, my overall point is that I appreciate the Lowes everyday discount for military and don't mind bragging it up to others who are eligible to use it.

Bill

Agreed Bill, i feel the same way

Yep, when I  worked at a big grocery chain store when I was young, they were ecstatic if they actually made 3% profit. usually is was under 2%. BTW, they are defunct now.

Back in the late 90's, I worked at HD. We could give anybody a 10% discount for any reason. All the customer had to do was ask for it.

ChasA said:

Back in the late 90's, I worked at HD. We could give anybody a 10% discount for any reason. All the customer had to do was ask for it.

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Not today at least at my HD. There are only like three days out of the year that they do it. Lowe's is all the time. Luckily for me, I have a HD 3 miles away and a Lowe's 4 miles away.

Rene T said:

Not today at least at my HD. There are only like three days out of the year that they do it. Lowe's is all the time. Luckily for me, I have a HD 3 miles away and a Lowe's 4 miles away.

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The HD near our NY cottage is the same way, giving the discount just on those few days. Our store grouping is a little tighter though, with just a half mile between Lowe's and HD. And a Tractor Supply and Harbor Freight in between them.