This article covers the top Home Depot competitors in 2022
About the company:
One of the largest home improvement retailers in the United States, Home Depot supplies tools, construction products, and services.
With a revenue of $119 Billion in Fiscal year 2019, Home Depot holds a 29% share of the overall building materials and garden supply retail sector in 2019, as compared with Lowe’s 19% share market.
With a market share of 1.7%, Home Depot holds a no. 5 spot in the list of top e-commerce retailers behind Amazon, Walmart, eBay, and Apple.
With an aim to blend the digital and physical worlds and to adapt to the changing times and customer needs Home Depot in 2017 launched a multi-year strategy called One Home Depot with an $11 billion investment to “unlock a friction-less interconnected shopping experience.
One Home Depot is envisioned to be a complete transformational strategy with the below mentioned 6 pillars.
- Store Refresh
- Product innovation
- Supply chain and delivery
- Interconnected and digital experience
That gives a brief about what the company is and how is it shaping up its business strategy to ward off its competitors and take the biggest piece of the market share pie.
Let’s check out who are the top Home Depot competitors in the world.
Top Home Depot Competitors
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Target an american retail corporation is the 8th largest retailer in the United States.
Founded by George Dayton and John Geisee in 1902, Target mainly focuses on younger and image-conscious shoppers.
Target Brands, Target Capital Corporation, Target Enterprise, and Target General Merchandise are the 4 subsidiaries that Target operates as a brand.
Target is not only a retailer but also owns a wide-range of private label product brands that are being managed the company’s brand management division, Target Brands.
The second in the list of Home Depot competitors is Lowe’s.
Lowe’s is an American retail company that specializes in Home improvement and run a chain of stores in the United States and Canada.
Lowe’s is the second-largest hardware chain in the United States behind rival The Home Depot .
Lowe’s is also second-largest hardware chain in the world just behind Home Depot.
Founded in 1921, Lowe’s operate 2,000+ home improvement and hardware stores in North America alone.
Menards is placed third on the list of Home Depot competitors which runs a chain of home improvement stores in the Midwestern United States.
The company is third largest home improvement chain in the United States, behind The Home Depot and Lowe’s.
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J.C Penny is an American department store chain with a presence in more than 850 locations in United States and Puerto Rico.
The company follows a strategy of having its stores located in power centers where it expects to get larger than usual customer footfall.
Apart from selling the conventional merchandise, J.C Penny stores also hosts large fine jewelry departments as well as some big names like The Salon by InStyle, and Sephora.
After the American competitors, let’s have a look at some other big names from different region.
B&Q is a British multinational DIY and home improvement retailer, and is a whole owned subsidiary of Kingfisher PLC
The retail chain operates 300 physical and online stores and offers over 40,000 products through these shops.
After britain, let’s move onto Germany.
Obi is a German multinational home improvement supplies retialing company.
Founded in 1970, Obi operates more than 600 stores in Europe with more than 50% of those open in Germany alone.
Leroy Merlin is a French Home improvement and gardening retailer that has presence in several countries in Europe, Asia, South America, and Africa.
Leroy Merlin operates in 6 main segments namely:
- Sanitary equipment,
- Renewable energy, and interior decoration.
Started in 1986, Staples is an American office retail company that offers sale of office supplies and related products, via retail channels and business-to-business (B2B)-oriented delivery operations.
Founded in 1858, Macy’s is an American department store chain that has more than 551 stores across the world.
Costco is an American multinational corporation that operates a chain of membership-only warehouse clubs.
What are membership-only warehouse clubs? – Costco’s membership warehouse club is dedicated to offering it’s members the best possible prices on quality and brand-name merchandise.
In order to save money from shopping at Costco or to avail different rewards and benefits that the retailer offers, one needs to be its member.
This concludes the article covering the top competitors of Home Depot.