Competitor Analysis: Home Depot Essay

1806 Words Dec 3rd, 2009 8 Pages
Competitor Analysis

Home Depot competitors are primarily in the home improvement and hardware retail industry, but also compete in the building materials retail and distribution, consumer electronics and appliances retail, and convenience stores and truck stops sectors. Some of Home Depot’s main competitors include: Lowe’s, True Value, and Ace Hardware. Now, these competitors are the main competition of Home Depot and all three stores carry about 75% if not more of what Home Depot sells. Keep in mind, that there are also smaller companies, often family-owned lumberyards or hardware stores that compete with Home Depot and the other large chain stores. However, Home Depot’s biggest competition is Lowe’s. “Home Depot and Lowe’s are home
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The seventh value is entrepreneurial spirit; this is just making sure Home Depot is creative and innovative in serving their customers. The last value of Home Depot is to have respect for all people. This means that Home Depot’s associates must work in an environment of mutual respect (HomeDepot.com). On the other hand, Lowe’s main value is to treat their customers, co-workers, communities, investors, and vendors with respect and dignity, and to offer all employees the opportunity to build a career (Lowe’s.com). Another value of Lowe’s is to create strong business relationships with minority- and women-owned businesses.
“Lowe’s strategy since 1994 was to have a softer side, a look that would be comfortable to women. Thus, their stores are well lit, the signs are colorful and clear, the floors spotless, and the people friendly and helpful. Ten years later, the Lowe’s strategy has traction, and Home Depot is attempting to adjust its own value proposition” (Aaker 7).

Lowe’s deems that having diversity is key to being a good corporate citizen. Lowe’s has the opportunity to deliver outstanding prices, products and services to their customers. Lowe’s believes that they take it one step farther than any other company. Lowes’ thinks that with community involvement that they extend beyond the traditional retail setting. Like Home Depot, Lowe’s gives back the their community however, they are known to help in natural disaster recovery and take active roles in programs

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