15 Biggest Home Depot Competitors In 2022 (Full Guide)
Home Depot, the US’s largest home-improvement retailer, has more than 1900 locations and an annual revenue of $110.225 billion in 2020. Are you aware of Home Depot’s competition?
The biggest Home Depot competitors are Lowe’s, Ace Hardware, Menard’s, True Value, and Canadian Tire as of 2022. Although these stores offer similar products as Home Depot, some of them, like Menard’s Wholesalers, have lower prices. Home Depot’s competitors include Walmart and Amazon, both of which offer home improvement products.
Lowe’s looks very much like Home Depot because it’s the largest retailer for home improvement products.
Also, Lowe’s carries the same types of products for all indoor and outdoor household tasks.
Lowe’s is home to more than 1.974 stores, in both the United States of America and Canada. In 2020, it generated $72.148billion in revenue.
Menard’s Home Improvement Store is the best. They offer a range of household items, as well as paint and lumber.
It sells the same products as Home Depot and is therefore a direct rival.
Menard’s also has a construction and development division.
One of the taglines of Menard’s is that you’ll save more money, and the company is known for having lower prices 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 is a leader and innovator as a home improvement wholesale store since it offers products to consumers that are local and relevant to its location.
True Value is also home to more than 4500 stores, which includes 400 shops in over 60 nations.
Ace Hardware is directly competing with Home Depot. That said, it’s found mostly in rural areas, offering a more personal connection to customers than big-box chains like Home Depot.
Ace Hardware is also home to everything you will need:
Ace Hardware was a formidable competitor to Home Depot with a revenue of more than $7.76 trillion in 2020.
Canadian Tire is directly competing with Home Depot Canada. Canadian Tires is a leader in the manufacture and distribution of household, automotive, recreational, sporting, and hardware products.
Also, many of the items you’ll find in Canadian Tire are similar to items in Home Depot, including power tools and equipment.
Canadian Tire generated $14.87Billion revenue in 2020. This was a staggering figure considering that the company operates approximately 1,600 locations all across Canada.
Walmart stocks a number of items for your home, such as lawn and garden, or products to help you improve it.
However, Walmart doesn’t have near the selection that Home Depot does regarding home improvement items. Walmart also doesn’t sell lumber in-store.
Walmart owns more than 10,000 stores around the world, including about 50% in the United States and 408 in Canada.
Williams Sonoma has a wide range of home products, including home furniture and cookware.
Williams Sonoma saw its revenue surpass $6.8 billion in 2020. In addition, there are over 625 retail outlets worldwide.
Target has many home-related products, making it a rival to Home Depot.
Target has over 1,800 US stores and had more revenue than $93 Billion in 2020. Additionally, Target has an international presence.
Home Hardware Canada is Canada’s top home improvement shop and direct competitor to Home Depot.
Home Hardware offers plumbing products, garden and home items, tools and painting as well as automotive products.
Home Hardware also earned over 6.6 billion Canadian dollars in 2020. It operates in more than 1100 places across the country.
ILDC stands for Independent Lumber Dealers Co-Operative and is a Canadian company that specializes primarily in tools and building materials.
This is clearly a direct competition to Home Depot.
Canada has more than 600 locations, with sales exceeding $4.3B per year, making it one among the top buying cooperatives.
Amazon rivals Home Depot in that it sells everything you’d need to make your home more beautiful, even tools and equipment.
Best Buy has direct competition to Home Depot when it comes to home appliances and electronics.
Furthermore, with more and more homes being purchased by young buyers, many are now turning to the internet to create a smart home. Best Buy has the advantage over 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, a market leader in residential and commercial flooring markets is directly competing with Home Depot.
Mohawk Industries has a variety of ceramic, wood, and other similar products. They are all very high quality.
Additionally, every store has over 50,000 products so you can be sure to find what you are looking for.
Furthermore, $1.73 billion was generated by net sales at more than 200 At Home stores throughout the United States in 2020.
Northern Tool & Equipment boasts more than 60 locations in eleven states. It’s a wonderful place to shop for a variety of home goods, such as hardware and tools.
In this shop, you will also be able to find the right industrial equipment.
Home Depot competes in the equipment and tools market. It has more sales than $1 billion.
For more information on Home Depot, please visit our posts about Home Depot vs. Lowe’s statistics and facts as well the Home Depot target market.
Lowe’s and Menard’s are the main Home Depot rivals. Ace Hardware, Ace Hardware Canada Tire, Home Hardware and True Value are also available.
Additionally, stores like Amazon and Walmart compete with Home Depot since both carry a variety of items for the home at lower prices.
Best Buy can also be compared to Home Depot for home improvement projects, such as upgrading to Smart Homes and buying relevant electronics.
Home Depot also faces competition from Williams Sonoma, At Home and Williams Sonoma in home furniture and decor.
Home Depot’s Most Significant Competitor:
The Home Depot’s major competitors Berkshire Hathaway’s Lowe’s Walmart, Amazon and Amazon rank among their top contenders. The Home Depot is a home improvement specialty retailer.
Lowe’s Most Important Competitor:
Kingfisher and Target are Lowe’s’s main competitors. Lowe’s sells products that are used in home maintenance, repairs, remodeling and construction. Kingfisher sells products for home improvement.
What are the Competitive Advantages of Home Depot?
Answer: Home Depot depends on high-quality customer care and competitive pricing to remain ahead of its competition. The company invests in infrastructure so that customers can receive better service.
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Mar 31, 2021
.15 Biggest Home Depot Competitors In 2022 (Full Guide)