Lowes Vs Home Depot

The Home Depot’s two main customers are at home “do-it-yourselfers” and contractors. The main products and services offered help solve the wants and needs of customers involved with home construction and maintenance,

The growing trend of home improvement has perpetuated a larger demand for box store home improvement shops such as Home Depot and Lowe’s. There are several types of companies that contribute to the booming renovation industry. Home Depot and Lowe’s provide all the

This allows Home Depot to better utilize resources by targeting demographic categories that are likely to be interested in home improvement or contracting services. Home Depot advertises a low price guarantee, including beating competitors’ prices by 10% (The Home Depot, 2016). Home Depot’s current marketing slogan is “More Saving, More Doing”. Home Depot markets to both the inexperienced homeowner as well as contractors for its products and services. The company’s marketing strategy, slogan, and price match guarantee all fit the current corporate strategy of growth through increasing sales at existing retail locations and online to both contractors and homeowners. As an organization within an industry where low price is likely necessary due to lack of differentiation, Home Depot’s marketing strategy focused on low price is necessary. The low-cost without focus strategy at the business level is also aligned with this marketing focus. Since Home Depot is looking to gain customers in the broader market, focusing on both do-it-yourself customers and contractors is

Retailing building supply stores have become a popular retail industry sector due to increased public awareness and the need of many homeowners for the home improvement products. Back in the 1970s, long before warehouse stores ruled home improvement land, do-it-yourselfers shopped at “home centers.” These 30,000 square foot stores offered cheaper prices and wider selection of products, about 25,000 more than local hardware stores and eliminated the extra trip to the lumberyard. The dependence of many of these retailers upon the homebuilding industry for much of their business has also been reduced and the warehouse superstores, such as Home Depot, have become more important. The smaller companies in the

The Home Depot knows that they must stay on top of technology and management must be able to organize this function in a way that surpasses the competition, pleases the customers, and keep the employees satisfied.

Lowe’s has entered into the Canadian and Australian market in attempts to gain unclaimed market shares. It has not gained enough traction in the Australian market but has done well in Canada. Lowe’s should focus more on expansion in Canada because of the strong need for Home Improvement stores. Lowe’s has the opportunity to gain more market share by developing a mobile application that allows users to view all items offered and what deals are taking place. Customer service is a top priority in any retail industry, Lowe’s needs to improve this dramatically. Lowe’s needs knowledgeable, friendly-staff that go beyond just showing a customer where a product is in the store. By doing so, Lowe’s will retain more customers and its competitors will lose shares of the market.

Lowe’s is part of an oligopoly type market structure. An oligopoly is a situation in which a particular market is controlled by a small group of firms with at least two firms controlling the market. The main key to behavior in an oligopoly is that companies must take into account what other companies will do. In perfect competition, firms are price-takers and can ignore other firms (Basic Economics, 2009). The home improvement retail stores are an industry that includes Home Depot, Lowe’s, Builders Square, and in other states, Menards.  Smaller companies have to try to compete with them to stay in business.

The home improvement sector of the economy is large with two major players in the industry and with many smaller local and regional competitors. These two major competitors are Home Depot and Lowe’s. These two companies account for over $110 billion in total sales each year. Even though sales have gone down over the past few years due to the downturn in the economy they have not gone down nearly as much as home sales and this is due to more people deciding to do more home improvements to their own home then buying a new home. Both of these companies have been able to keep up sales and increase them year over year by improving current

The Home Depot (NYSE: HD) is a home improvement, construction products and services retailer operating over 2,000 big-box stores in the United States and abroad. The Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank with the vision of one-stop shopping for do-it-yourself (DIY) customers, installation services for do-it-for-me (DIFM) customers and competitive products for the professional market. Their DIFM installation programs include products such as carpeting, flooring, cabinets, countertops, and water heaters. In addition, the company provides installation of various professional products like generators and HVAC systems.

Home Depot and Lowe's believe in big warehouse space, an informal atmosphere and low prices. They are able to offer the lower prices to consumers due to their purchasing power. Inventory differs depending on the story type, home centers typically sock more lumber and building supplies, as their biggest customers are contractors. They pay their floor employees minimum wage, and keep overall costs down by keeping them as part time employees.

Looking forward, Lowe’s plans include expansion, with more than 100 store openings in line until the year 2004. Although it was not explicitly stated that it will continue to expand until 2006, the analysts assumed the contrary, that is a continuous expansion in order to strategize and reach Home Depot’s level in terms of scale.

In order to further strengthen its holdings on the home improvement market, Lowe’s Companies, Inc. has restructured the company’s vision to conform to meet the ever-changing needs of its customers. Lowe’s extensive research has led it to include a well lit sales floor, informative in-store displays, exclusive and proprietary brands, and an ingenious store layout just to name of the few changes. This new vision is not only centered on the store itself, Do-It-Yourselfers and Commercial Business Customers have many ways to satisfy their needs conveniently though stores nationwide by placing orders over the phone, fax, or from the improved Lowe’s web site.

Lowe 's is the world 's second largest home improvement retailer and the 14th largest retailer in the U.S. Lowe 's is in the midst of an aggressive expansion plan, opening a new store on average every three days. Lowe 's is an active supporter of the communities it serves. Through the Lowe 's Heroes volunteer programs and the Home Safety Council, it provides help to civic groups with public safety projects and share important home safety and fire prevention information with neighborhoods across the country. Lowe 's has been a publicly held company since October 10, 1961. Its stock is listed on the New York Stock Exchange, with shares trading under the ticker symbol LOW.Lowe’s Companies, Inc., together with its subsidiaries, operates as a home improvement retailer in the United States and Canada. The company provides a range of products and services for home decoration, maintenance, repair, remodeling, and property maintenance. It offers home improvement products in various categories, such as appliances, lumber, paint, flooring, building materials, millwork, lawn and landscape products, fashion plumbing, hardware, lighting, tools, seasonal living, rough plumbing, outdoor power equipment, cabinets and countertops, nursery, rough electrical, home environment, home organization, and windows and walls. The company’s products also include boards, panel products, irrigation pipes, vinyl sidings, and ladders. It serves

As the underwriter of Habitat's Women Build® program since 2004, Lowe's has brought women from all walks of life together to support the nationwide initiative that challenges women to devote at least one day to help eliminate poverty housing. Lowe's how-to clinics have put hammers in the hands of thousands of women, teaching them construction skills and empowering them to be part of the solution by building homes with partner families.

Lowe’s home improvement warehouse logo consists of a stunning blue boxed home, it screams home improvement, through the slogan “Never Stop Improving”. They crave customers and allure them in through their great promotions and advertisements. The logo’s slick blue finish invites customers to purchase their merchandise, while straying them away from their competitors. Lowe’s sense of hospitality is brought by their kind staff in red and blue uniform; they welcome you, and assists you in purchasing the best materials to improve your home, to best outcome it can possibly encompass.