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. What do you know about Home Depot’s rivals?
As of 2022, the largest Home Depot rivals are Lowe’s and Ace Hardware as well as Menard’s, True Value and Canadian Tire. These stores sell products similar to Home Depot’s but they offer cheaper prices, for example Menard’s because it’s a wholesaler. Home Depot is also competitive with stores such as Amazon and Walmart, which sell tools for home improvements.
Lowe’s, which is the biggest retailer of home improvements in America, has many similarities to Home Depot.
Lowe’s also carries all the products needed for indoor and outdoor 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, a top home improvement retailer, offers a wide range of products for the home including paint and lumber.
Home Depot’s direct competitor is it because they sell similar products.
Menard’s operates in real estate and also has a development- and construction division.
Menard’s claims that they will save you more money and are known for offering lower prices than Home Depot.
Finally, there are 352 stores in the United States, with most locations being in the Midwest, which earned more than $12.8 billion of revenue in 2020.
True Value, a wholesale home improvement store that offers local products and is innovative in its approach to selling them, has been a leading innovator.
True Value owns more than 4500 retail stores around the world, with 400 locations in over 60 different countries.
Ace Hardware is a direct competitor to 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 was a formidable competitor to Home Depot with a revenue of more than $7.76 trillion in 2020.
Canadian Tire competes directly with Home Depot Canada. Canadian Tires is a leader in the manufacture and distribution of household, automotive, recreational, sporting, and hardware products.
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 has a range of products that are comparable to Home Depot, including lawn and garden supplies, household items and home improvements.
However, Walmart doesn’t have near the selection that Home Depot does regarding home improvement items. Walmart does not sell lumber.
Walmart boasts over 10,500 retail outlets worldwide. There are approximately half located in the United States, and there are more than 408 locations in Canada.
Williams Sonoma offers many products for the home. They specialize in home furnishings and kitchen items.
Williams Sonoma reported a $6.8 Billion in revenue for 2020. There are 625 shops worldwide.
Target is a competitor to Home Depot since it sells various products for the home, including:
Target has over 1,800 US stores and had more revenue than $93 Billion in 2020. Plus, it has an international presence.
Home Hardware is Canada’s most renowned home improvement retailer and competes directly with Home Depot on the Canadian market.
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.
You can clearly see that Home Depot is directly competing with it in this space.
There are over 600 locations across Canada and the average sales exceed $4.3 billion. This makes it one of Canada’s leading purchasing cooperatives.
Amazon competes with Home Depot as it stocks just about every product you might need to complete your home improvement projects.
Best Buy has direct competition to Home Depot when it comes to home appliances and electronics.
On top of that, as more young people purchase homes, they turn to the electronic market to make their home a Smart Home, which is where Best Buy can beat 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 is a leader in the residential and business flooring market, which makes it a direct competitor to Home Depot in this regard.
Mohawk Industries sells ceramic flooring as well as wood flooring.
Furthermore, each store contains more than 50,000 products, so it offers an incredible variety that’ll ensure you find just what you’re 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 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.
In this shop, you will also be able to find the right industrial equipment.
Therefore, it’s one of Home Depot’s competitors in the tools and equipment market, with more than $1 billion in sales.
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 is a competitor to Home Depot. Ace Hardware (Canadian Tire), Lowe’s, Menard’s as well as Ace Hardware and Canadian Tire are all main competitors.
Home Depot and Amazon are also competitors since they both sell more items at lower costs than Walmart or Amazon.
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 competes with Williams Sonoma or At Home for home furnishing 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 specializes in home improvement.
Which is Lowe’s biggest competitor?
Lowe’s’s top competitors include Kingfisher, The Home Depot, Target, Walmart, Best Buy, Costco and Bed Bath & Beyond. Lowe’s is a retailer of products for home construction, maintenance, repair, remodeling, and decorating. Kingfisher, a company that sells home improvements.
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. To bolster its competitive advantage, the company also invests in infrastructure to enable better customer service.
Which is bigger, Lowe’s or Home Depot?
The majority of The Home Depot’s 2020 stores were in America. It operated more than 2,000 stores around the world, while Lowe’s Companies, Inc. had 1,974 locations. Mar 31, 2021
.15 Biggest Home Depot Competitors In 2022 (Full Guide)