Compare And Contrast Home Depot Vs Lowes
Melody B. Braxton
Introduction to Marketing
October 18, 2011
HOME DEPOT V. LOWES
An industry of competition, and tight margins The Home Depot and Lowes Company are still at the tip of their game. Both of these companies stand now as the industry standard for the home improvement sector. Both companies have extremely strong financial positions and a long future in the home improvement industry. Competition is good for the retailer, but even better for the customer. Each company has its strengths and limitations. The Home Leader –vs- Improving Home Improvements.
The Home Depot
The company was founded in 1978 in Atlanta Georgia and has since become the world’s largest home improvement retailer, operating more than 1,500 stores …show more content…
Founded in 1946, Lowes has grown from a small hardware store to the second largest home improvement retailer worldwide. Lowes is a $26 billion dollar retailer with a complete line of home improvement products and equipment. The company serves more than $7 million do-it-yourself products and equipment, operating more than 870 stores in 45 states. Lowes is the world’s second largest home improvement retailer and the 14th largest retailer in the United States.
Industry
Due to economic expansion over the 1990’s, the home improvement industry has experienced a rapid growth. Due to the wealth effect, consumers spent high amount of cash and credit on improving their most prized and expensive possession, their homes. As a result, the home improvement industry experienced rapid expansion and growth. Both stores offer one stop shopping, low price, convenient locations and excellent customer service. They both also have the super store concept, many local competitors and provide customer quality care. However, presentation counts at Lowes. Its warehouse-style stores are laid out so that two shopping carts can pass in comfort, a feature has helped Lowe’s appeal to women shoppers. Lowes target women because more home projects are initiated by females. The chain is attracting more and more non-professional home improvement shoppers. Home Depot has traditionally relied on low prices, lots of selection and sales of building material to professional contractors. Some of the new stores are now in urban areas like Brooklyn, NY and Chicago, IL. Both stores are able to do what’s right for the customers and
Introduction to Marketing
October 18, 2011
HOME DEPOT V. LOWES
An industry of competition, and tight margins The Home Depot and Lowes Company are still at the tip of their game. Both of these companies stand now as the industry standard for the home improvement sector. Both companies have extremely strong financial positions and a long future in the home improvement industry. Competition is good for the retailer, but even better for the customer. Each company has its strengths and limitations. The Home Leader –vs- Improving Home Improvements.
The Home Depot
The company was founded in 1978 in Atlanta Georgia and has since become the world’s largest home improvement retailer, operating more than 1,500 stores …show more content…
Founded in 1946, Lowes has grown from a small hardware store to the second largest home improvement retailer worldwide. Lowes is a $26 billion dollar retailer with a complete line of home improvement products and equipment. The company serves more than $7 million do-it-yourself products and equipment, operating more than 870 stores in 45 states. Lowes is the world’s second largest home improvement retailer and the 14th largest retailer in the United States.
Industry
Due to economic expansion over the 1990’s, the home improvement industry has experienced a rapid growth. Due to the wealth effect, consumers spent high amount of cash and credit on improving their most prized and expensive possession, their homes. As a result, the home improvement industry experienced rapid expansion and growth. Both stores offer one stop shopping, low price, convenient locations and excellent customer service. They both also have the super store concept, many local competitors and provide customer quality care. However, presentation counts at Lowes. Its warehouse-style stores are laid out so that two shopping carts can pass in comfort, a feature has helped Lowe’s appeal to women shoppers. Lowes target women because more home projects are initiated by females. The chain is attracting more and more non-professional home improvement shoppers. Home Depot has traditionally relied on low prices, lots of selection and sales of building material to professional contractors. Some of the new stores are now in urban areas like Brooklyn, NY and Chicago, IL. Both stores are able to do what’s right for the customers and