Home Depot -case Analysis
The Home Depot currently is the number one retailer in the home improvement industry. Home Depot is operating 1568 stores worldwide. All of which are retailers of hardware, lumber, millworks, garden supplies, and appliances. The Home Depot is currently operating throughout 50 U.S. states, eight Canadian provinces, Mexico, and Puerto Rico. They also have recently acquired two sourcing offices in China. Since the opening of the Home Depot in Atlanta 1978, it has aggressively expanded store openings and has profited handsomely from this strategy. In their heydays, they were the fastest growing retailer in the world. The Home Depot was the first retailer to hit $30 billion then $40 billion and now $50+ billion in sales. Home Depot operates such stores as EXPO Design Centres, Pro Stores, Landscape Supply, Specialty Flooring, and Villager Stores. They have successfully implemented all of these stores in the USA adopting them to specific region’s needs and capacity to sustain business.The Home Depot has been a destination for low-priced home improvement items with unparalleled selection for its customers. Their service is taking seriously and the customer will always come first. T
Product databases Customer databases New e-tailers stealing niche markets and providing increased options. 5. Use of information technology towards better efficiency/lower costs. The number one competitor for The Home Depot is Lowe’s Co. Lowe’s is the second largest retailer of home improvement products in the U.S. second only to The Home Depot. Lowe’s is currently the fastest growing retailer in the U.S. with a growth rate of 19% in sales annually. They are currently opening stores at an average of one store every three days. Lowe’s is moving into markets directly associated with existing Home Depot stores. The Lowe’s plan is to compete head to head with Home Depot. Their goal is to prove to the consumer that they can offer better service and competitive pricing with more attractive and user-friendly stores. 2. Capitalize through the online market place. Taking care of our people: The most important reason for the Home Depot’s success. With the rapid expansion of Lowe’s and the continuum of Home Depot’s store opening rate, the home improvement industry for big box format retailing, is facing great risks of market saturation. It is estimated that the home improvement market will be in the U.S. will be completely saturated by the end of 2004. The growth of these two retailers is coming increasingly at the expense of their already existing outlets, primarily the Home Depot’s. The Home Depot’s overall sales growth is slowing at an alarming rate due to the rapid expansion and continual store openings in U.S. markets.
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Approximate Word count = 1750
Approximate Pages = 7 (250 words per page double spaced)
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