As the world's first and second-largest home improvement retailers, Home Depot and Lowe's share many similarities. They compete for a shared customer base across the U.S. and Canada.
The Home Depot competitors include Ace Hardware, Hajoca Corporation, HHGregg, Walmart and Huttig Building Products. The Home Depot ranks 1st in Overall Culture Score on Comparably vs its competitors.
Home Depot is a key competitor of Walmart that operates a physical retail network that directly competes with Walmart. The company's vast stores and differentiated product offerings help bring more customers into its stores.
The Home Depot's competitors
The Home Depot is a home improvement specialty retailer. Walmart is a retail company that operates a chain of hypermarkets, discount department stores, and grocery stores. Amazon (also known as Amazon.com) is a company operating a marketplace for consumers, sellers, and content creators.
Home Depot has the advantage in store count in the United States with about 250 more stores than Lowe's. Geographically, we see modest differences in where stores are located. Home Depot has their highest number of stores in California, which is 4th highest for Lowe's.
Home Depot often has lower prices on building materials and tools, while Lowe's may have better deals on appliances and home décor items. Both stores offer price matching policies, so if you find a lower price on an identical item at a local competitor, they will match the price.
Amazon. Without a doubt, the Seattle-based eCommerce retailer is Walmart's top competitor right now. As of 2022, Walmart's total equity is $91.891 billion. For the fiscal year 2022, the company's revenue increased by 2.43%, reaching $572.745 billion.
Lowe's's competitors and similar companies include The Home Depot, Target, Walmart, Best Buy and Costco. Lowe's Companies is a retailer of products for home construction, maintenance, repair, remodeling, and decorating. The Home Depot is a home improvement specialty retailer. Target is a general merchandise retailer.
Customers who are professionals: Professional renovators, contractors, small business owners comprise most of the home depot clientele. They understand the special demands of professional customers and use their knowledge to make the purchasing experience easier.
Hartville Hardware - America's Largest Hardware Store.
The Home Depot exclusively carries several major brands, including: Chem-Dry (carpet cleaning, upholstery cleaning, tile and grout services) Behr paints. Homelite (outdoor and power tools)
According to analysis by Market Watch, The Home Depot possesses roughly 17 percent of the market share for home improvement retail. Lowe's comes in second with about 12 percent market share. In 2021, Home Depot's sales exceeded $130 billion, and Lowe's sales totaled about $89.6 billion.
The Home Depot has been recognized on Fortune's 2023 Most Admired Companies list, ranking #1 in the specialty retail category and #20 overall. Fortune worked with Korn Ferry, surveying 1,500 companies and determined the best-regarded companies in 52 industries.
The Home Depot Inc. employees with the job title Staff Software Engineer make the most with an average annual salary of $125,064, while employees with the title Retail Sales Associate make the least with an average annual salary of $30,657.
About half of Home Depot's revenue today comes from professional customers, like plumbers, electricians, and general contractors, compared to 25% for Lowe's. In dollar terms, pros accounted for $77.5 billion of Home Depot's sales and $23.8 billion for Lowe's in the last 12 months.
Lowe's has earned an impressive recognition courtesy of Fortune. The company made Fortune's Top 50 All-Star list of the "World's Most Admired Companies" for the first time since 2011, ranking No. 47.
Home Depot is primarily owned by institutional investors like The Vanguard Group (9%) and BlackRock (6.8%) while top individual investors comprise Craig A. Menear, chairman, and the former chief executive officer; and chair, president, and CEO Edward P. Decker.
Costco Wholesale Corp's (COST) main competitors in the highly competitive retail market of large discount stores are Walmart Inc. (WMT) and Target Corporation (TGT). These companies are also sometimes classified as consumer defensive stocks.
But with so many potential Amazon alternatives out there, which are the top competitors? Within the several industries it operates in, some of Amazon's top competitors include Alibaba, eBay, Walmart, Target, Netflix, Disney+, Microsoft Azure, Google Cloud Platform, etc.
Sales figures are calculated using gross merchandise value (GMV). Walmart ($488 billion) and (Amazon $398.8 billion) were far and away the biggest U.S. chain retailers by 2021 sales, followed by The Kroger Co. ($146.7 billion) and Costco Wholesale ($140.8 billion), according to Edge by Ascential.
One benefit to shopping at Lowe's over Home Depot is that the price match policy allows customers to price match Amazon products, while Home Depot's policy is limited to brick-and-mortar stores. Lowe's customers can enroll in the Lowe's rewards program to get a variety of free, incentivized, or discounted products.
Home Depot and Lowe's: global annual sales 2011-2022
In 2022, Home Depot's annual sales amounted to over 157 billion U.S. dollars, whereas its main competitor, Lowe's, reached more than 97 billion U.S. dollars of sales.
1. Remember that Lowe's and Home Depot price match each other, so finding the cheapest name-brand items is easy. If you're shopping for name-brand items that both Lowe's and Home Depot carry, you can always get the lowest price between the two.