Lowe’s, an American chain of retail home improvement and appliance stores, has launched Lowe’s Innovation Labs, intended to solve common consumer problems while working alongside start-ups, universities, specialized professionals and other companies.

The first initiative to come from the lab is the Lowes Holoroom, a 3-D home improvement simulator which allows customers to visualize their dream room in virtual, real-time display.

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Customers can choose their preferred products before viewing and experiencing them in the Holoroom. While in the Holoroom, they can make changes to the room design or finalize their plan.

A take-home printout will allow customers to view a 3-D model of their room at home, and share the model with family and friends by downloading a free app available on iOS or Droid devices.

Lowe’s Innovation Labs executive director Kyle Nel said the company wants to lead innovation by developing disruptive technologies that will establish a long-term competitive advantage.

"Lowe’s Innovation Labs will allow us to quickly bring in new technology and new partners, explore a wide range of possibilities and identify opportunities to develop concepts like the Holoroom," Nel added.

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The idea behind the launch of Lowe’s Innovation Labs is part of the company’s aim to offer clear concept of home improvement.

Following this, the retailer has partnered with many partners including SciFutures, a foresight and innovation consultance, enabling customers to enter into a futuristic view of what they want to create out of a room.

SciFutures founder and co-CEO Ari Popper said, "We use the power of science fiction narratives to predict future possibilities and explain complex technologies in a way everyone can understand."

"Using this science fiction prototyping process we collaborated with Lowe’s to see the world could look like, and their determination to bring that vision to life led to the Holoroom."