It was a big year for Iris, Lowe's proprietary smart home and security system. The Iris subscriber base jumped 40% in 2017 and now integrates with more than 150 well-known brand devices. That's second only to 2012, the year it was officially launched.
In May, Lowe's introduced monitoring for $14.95 a month, making it the lowest priced 24-hour monitoring service on the market. And that price will be matched in 2018, when Lowe's will offer an additional 10% off professional monitoring services for MyLowes customers.
"Iris comes from Lowe’s, a trusted nationwide home improvement company," Mick Koster, vice president and general manager of Iris, told FierceRetail. "We are focused on delivering a world class smart home experience that makes customers feel safe, secure and in control of their homes. But it’s even more than that—we are delivering a system that helps customers better manage, monitor and maintain their homes and make their lives easier by linking ‘smart home’ to ‘home improvement.’"
This was also the year that Iris launched Professional Monitoring in all 50 states, just one year after Iris unveiled a home security feature for $19.99 a month.
Looking ahead, Lowe's plans to improve and expand its platform options through collaborations with companies such as 3M, Google and Scotts.
"In 2018, our goals are to experience continued growth in our subscriber base, see great satisfaction scores and hear user feedback, whether that’s positive, constructive or both," Koster added.