It has around 2,200 stores throughout the United States, Mexico, and Canada. The company welcomes as many as 18 million customers each week. It retains its place as the second-largest hardware store. Lowe’s was once the largest hardware retailer in America until it was overtaken by Home Depot in 1989. The company was founded in 1921 by Lucius Smith Lowe. Lowe’s is an American retailer that offers a similar product range and service as Home Depot. True Value – A wholesaler that operates worldwide.
Menards – The third-largest retailer in the world. Lowe’s – The second-largest home hardware retailer in the world. Here is a look into some of the top Home Depot competitors and alternatives in the home improvement sector: This makes Home Depot a versatile business, able to other a wide choice for its patrons. The brand sells its products through physical stores located across North America as well as through its online storefront.
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Professional contractors such as plumbers, electricians, painters, decorators, and remodelers can find everything they need at Home Depot. The business primarily targets consumers interested in DIY, but professionals use Home Depot too.
It offers products that can help people with home renovation, decorating, gardening, and construction. Home Depot drives most of its revenue through the sale of building materials, tools, machinery, and other home improvement products. Likewise, customers who prefer low prices and a broad range of options may migrate to discount department stores, hardware stores, or just new companies. ThreatsĪ variety of other competitors exist in the retail industry.Ĭompetitors specializing in garden items, bathroom products, sanitary equipment, and electronic products may appeal to consumers who value specialization. The current lack of presence in other countries provides opportunities for international expansion.Īs a home improvement store, the company has extensive opportunities to expand into renewable energy and smart home product categories. While physical stores exist primarily in North America, the new online shopping focus should help improve market share. The company also has a weak international presence. This may make it difficult for the company to stay ahead of downturns when sales of gardening products and building products slow. Home Depot does not diversify from its core product categories of home improvement products. This diversified footprint allows the company to provide high-quality products for do-it-yourself home services even when the economy is in flux. It also provides power tools, garden supplies, and construction products to the Midwestern United States and rural areas. The company has strategic locations in cities across all regions of the US and Canadian markets.
Home Depot has exceptional brand recognition in the home improvement industry. More than one million products are listed to help consumers find the right thing for them. Home Depot has developed its online presence to compete with eCommerce stores. The company has reported revenue of $151.16 billion and net income of $16.43 billion this year. It is listed on the New York Stock Exchange under the ticker symbol HD. The company is known as the largest hardware retailer in the world.Īs of 2019, there are over 400,000 employees working for Home Depot. Part of its offerings to the public are installation and machinery rental.
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There is also an outdoor area full of gardening equipment, plants, and outside furniture.
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