15 Biggest Home Depot Competitors In 2022 (Full Guide)
Home Depot is America’s biggest home improvement retailer with over 1,900 locations and $110.225 million in revenue for 2020. Are you aware of Home Depot’s competition?
Lowe’s is a competitor to Ace Hardware, Menard’s True Value, Menard’s and Lowe’s as Home Depot’s largest competitors. While these stores carry similar products to Home Depot’s, Menard’s and Ace Hardware offer lower prices because they are wholesalers. Home Depot and Walmart are also competitors because they both sell home improvements tools.
Lowe’s, which is the biggest retailer of home improvements in America, has many similarities to Home Depot.
Lowe’s also stocks products suitable for outdoor and indoor household tasks.
Additionally, Lowe’s has more than 1.974 stores in the United States and Canada, generating an annual revenue of $72.148 billion in 2020.
Menard’s home improvement shop is known for carrying a large selection of home goods, such as paint and lumber.
Home Depot can be directly compared to it as it has similar products.
Menard’s, which is active in the real-estate market, also offers a division for development and construction.
Menard’s’ tagline is “You’ll Save More Money”, and Menard’s prices are lower than Home Depot.
Last, but not least: 352 American stores are available. Many of the locations can be found in Midwest which generated more than $12.8 Billion in revenues in 2020.
True Value Home Improvement Wholesale is a pioneer and leader because they offer products relevant to their location to local consumers.
Additionally, True Value has more than 4,500 stores worldwide, including 400 stores in more than 60 countries.
Ace Hardware is directly competing with Home Depot. It is located in the countryside and provides a better connection to customers than larger-box chains such as Home Depot.
Ace Hardware is also home to everything you will need:
Ace Hardware is a strong competitor to Home Depot, with more than $7.76billion in sales for 2020.
Canadian Tire can be found directly in the Home Depot category. Canadian Tires has a strong focus on automotive, home, hardware and sports.
Canadian Tire sells many of the same items as Home Depot.
Canadian Tire reported a revenue of $14.87 billion in 2020. This is a remarkable figure for an organization with approximately 1,600 locations across Canada.
Walmart stocks a number of items for your home, such as lawn and garden, or products to help you improve it.
Walmart, however, doesn’t offer the same variety of products for home improvement as Home Depot. Walmart also doesn’t sell lumber in-store.
Walmart operates more than 10500 locations worldwide. About half of these are in America, while 408 Canadian stores can be found in Canada.
Williams Sonoma has a wide range of home products, including home furniture and cookware.
Williams Sonoma recorded $6.8Billion in sales for 2020. More than 625 of its stores are currently open worldwide.
Target is a competitor to Home Depot since it sells various products for the home, including:
Target, which had more that $93 billion of revenue in 2020, also has more stores than 1,800 in the United States. The company is also internationally present.
Home Hardware is one of Canada’s leading home improvement stores and directly competes with Home Depot in the Canadian market.
Additionally, Home Hardware sells plumbing supplies, home and garden items, tools, painting, and even automotive products.
Home Hardware has more than 1,100 stores across Canada and earned more Canadian dollars than 6.6 Billion in 2020.
ILDC stands for Independent Lumber Dealers Co-Operative and is a Canadian company that specializes primarily in tools and building materials.
You’ll see it’s directly competing in the market with Home Depot.
Canada has more than 600 locations, with sales exceeding $4.3B per year, making it one among the top buying cooperatives.
Amazon can be compared to Home Depot because it offers just about everything you need, from tools and equipment, for home improvements, as well as lawn care.
Best Buy is a direct competitor to Home Depot in the home appliances, electronics, and home improvement categories.
In addition, as young people buy homes, they look to the electronic market for Smart Home options. Best Buy offers a better deal than Home Depot.
Best Buy has more than 1110 locations worldwide and made $47 Billion in 2020. The company also continues its expansion of its e-commerce business.
Mohawk Industries leads the market in commercial and residential flooring. This makes Mohawk Industries a direct competitor in this space to Home Depot.
Mohawk Industries stocks ceramic flooring and hardwood flooring. The products offered are of high quality.
Each store stocks more than 50,000 items, which means that you will find the right product for you.
For 2020, net sales of $1.73 trillion were also made by more than 215 At Home stores in America.
Northern Tool & Equipment has more than 60 stores in 11 states, and it’s a great place to go for various home products, including hardware, tools, and equipment.
You can also find industrial equipment here for your company.
Home Depot competes in the equipment and tools market. It has more sales than $1 billion.
You can read our post on Home Depot vs. Lowe’s and Home Depot statistics & figures, as well as the Home Depot target markets.
The main Home Depot competitors include Lowe’s, Menard’s, Ace Hardware, Canadian Tire, Home Hardware, and True Value.
Home Depot can also be competed with by stores such as Walmart and Amazon, both of which sell a wide range of home goods at lower prices.
Further, Best Buy competes with Home Depot in the home improvement sector, especially when upgrading to a Smart Home and purchasing relevant electronics.
Also, Home Depot has competition from stores like At Home and Williams Sonoma when it comes to home furnishings and decor.
Who Is Home Depot’S Biggest Competitor?
The Home Depot’s main competitors Berkshire Hathaway’s Lowe’s and Walmart are among the Top 5 competitors. The Home Depot is a specialty home-improvement retailer.
Lowe’s Biggest Competition
Lowe’s’s top competitors include Kingfisher, The Home Depot, Target, Walmart, Best Buy, Costco and Bed Bath & Beyond. Lowe’s sells products that are used in home maintenance, repairs, remodeling and construction. Kingfisher, a company that sells home improvements.
Home Depot: What Competitive Advantages?
Answer: Home Depot is competitive in pricing and provides high-quality customer services to keep it ahead of the rest. Home Depot invests in its infrastructure to provide better customer service. This helps it maintain its competitive edge.
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.15 Biggest Home Depot Competitors In 2022 (Full Guide)