To end the process of going through complicated fixtures and finishing post house construction, Lowe’s Companies, Inc. (NYSE:LOW) has come up with its proprietary technology called, ‘Lowe’s Holoroom’. CNBC reports about how the company’s latest technology will help Americans, who spent a record $119 billion for their home remodelling last year and the numbers are expected to increase by as much as 3.6% this year, as projected by the National Association of Home Builders (NAHB).
With the new technology, Lowe’s aims to take off the burden from a house owners’ shoulders to experiment with the things as the new technology will allow a virtual walk through any space of the house, be it a Kitchen, Living Room or any other area, using a 3d scanning process and generating the view with spaces fitted with real Lowe’s products.
A specially equipped iPad will be the eyes to take customers through the house tour, letting the viewer virtually feel and look around as how the Lowe’s products that they intend to buy would sit in their house. In addition to this, the viewer has the freedom to move around the products that they do not like at a particular place, by just a simple touch, with no real heavy lifting. Thus, taking away a lot of risk and stress from the mind of the customers. Interestingly, Lowe’s had named the project as ‘marriage saver’ initially typifying how easy it made the things with the new technology. Once sure of the choice, customers can download the same and carry it along the products that they finalized to buy.
However, Americans would have to wait for some time to get the virtual tour as the company will first test run the service in Canada before launching it in the U.S. It is partnering with Sci-fi Futures to get help with the technology and is looking for potential partnerships in the U.S.
Andreas Halvorsen‘s fund Viking Global, has 3.71% of its equity portfolio invested in Lowe’s Companies, Inc. (LOW), worth $885.71 million. Greenhaven Associates, managed by Edgar Wachenheim also holds 11.25 million shares of the company.