Home improvement retailer Home Depot (HD) offers a range of building materials and home improvement products. Also, it offers lawn, garden, and decor products. The company also provides home improvement installation services and tool and equipment rental. It is the world’s largest home improvement retailer based on 2018 sales. In the last three years, Home Depot’s revenues grew at an average rate of 7%.
Like other segments, the home improvement segment of retail hasn’t been untouched with e-commerce. However, it being a specialty segment, major online retailers currently don’t offer as wide a range of products as Home Depot does. Thus, the company has an edge over others.
However, Home Depot understands the changing consumer preferences and is developing online platforms to cater to them. The company is focusing on an interconnected shopping experience that allows customers to blend their digital and physical shopping seamlessly.
Home improvement products also generally tend to be high-value and varied. This is opposed to products like electronics, apparel, or grocery, which buyers can easily order online. Buyers generally compare home improvement products online and then go to the store to make the final purchase decision. Additionally, the company notes that roughly half of its online orders in the US are picked up from its stores.
View more information: https://marketrealist.com/2019/10/why-these-7-us-retailers-top-the-charts/