Home Improvement Retail Industry

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The US home improvement retail industry comprises retailers that sell appliances, kitchen fittings, lumber, building materials, plumbing, and other home improvement products. The two biggest players in this market are retail giants Lowes and The Home Depot. These Big-box companies, which control almost the entire home improvement market in the US, have continued to expand their footprint both in domestic markets and abroad in the hopes of increasing their respective market shares. The US home improvement retail industry is a mature industry characterized by a high degree of market concentration and similar product lines. The industry generates annual revenues of about $129 billion. Home Depot, the industry leader, rakes in 58% of the industry’s…show more content…
The founding vision for the store was to be a one stop shop for the do it yourself customer. The vision became a reality as the first two Home Depot stores opened on June 22, 1979, in Atlanta, Georgia. The first stores were gigantic 60,000 square foot warehouses that stocked more than 25,000 products, much more than your local hardware store. Bernie Marcus and Arthur Blank believe in cultivating a relationship with customers rather than just completing a business transaction. Even since the beginning store associates went through extensive product knowledge training and were able to offer lessons to demonstrate and teach customers how to do projects…show more content…
• Respect for all people - In order to remain successful, our associates must work in an environment of mutual respect, free of discrimination and harassment where each associate is regarded as a part of The Home Depot team. Recently The Home Depot has repositioned its strategy, shifting their focus from big box stores to e-commerce growth. The company has launched a major upgrade of its fulfillment and supply chain processes to support expanding e-commerce business, online sales have increased about 50% year over year from 2013-2014. The Home Depot is also starting to embrace mobile technology through web and mobile apps that will allow the store to expand the store aisles to its customer wherever they may be. The new technology will also allow store associates to assist customers in finding the products they need in store or online. The majority of consumers will visit the stores website first prior to going to make an in-store

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