15 Biggest Home Depot Competitors In 2022 (Full Guide)
Home Depot is the United States’ largest home improvement retailer. In 2020, it had more than 1900 stores and was worth $110.225billion. 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. These stores sell similar products to Home Depot, but some, such as Menard’s, offer much lower prices since it’s a wholesaler. Additionally, stores like Amazon and Walmart compete with Home Depot because both sell home improvement tools.
Lowe’s can be compared to Home Depot as it’s one the most important home-improvement retail outlets.
Lowe’s also stocks products suitable for outdoor and indoor household tasks.
Lowe’s operates more than 974 stores throughout the United States and Canada. It generates $72.148 Billion in annual revenues in 2020.
Menard’s is a leading home improvement store offering a variety of items for your home, including paint, lumber, and household goods.
Because it sells similar products, it is a direct competitor to Home Depot.
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.
There are currently 352 US stores. The majority of them can be found in the Midwest. They earned over $12.8 billion in revenue in 2020.
True Value Wholesale Store is an innovator in the home improvement industry because it provides products that are relevant and local to customers.
True Value operates more than 4,500 shops worldwide. It also owns 400 stores in over 60 other countries.
Ace Hardware can be considered a direct rival to Home Depot. Ace Hardware, however, is more common in rural locations and has a stronger connection to its customers than the big-box chain Home Depot.
Ace Hardware has it all, from:
On top of that, Ace Hardware generated more than $7.76 billion in revenue for 2020, making it a tough competitor to Home Depot.
Canadian Tire can be found directly in the Home Depot category. With that, Canadian Tires specializes in automotive, hardware, leisure, sports, and household goods.
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 sells a wide range of home goods and lawn and garden products as well as products for the home that can be used to improve your house.
Walmart has a smaller selection than Home Depot in home improvement products, but it isn’t as extensive. Walmart also does not carry lumber in its stores.
Walmart operates more than 10500 locations worldwide. About half of these are in America, while 408 Canadian stores can be found in Canada.
Williams Sonoma sells a range of items for your home including furniture, kitchenware, and cookware.
Williams Sonoma recorded $6.8Billion in sales for 2020. More than 625 of its stores are currently open worldwide.
Target competes with Home Depot because it offers a variety of products for your home including:
Target, which had more that $93 billion of revenue in 2020, also has more stores than 1,800 in the United States. Target also has a global presence.
Home Hardware is one of Canada’s leading home improvement stores and directly competes with Home Depot in the Canadian market.
Home Hardware offers plumbing products, garden and home items, tools and painting as well as automotive products.
Also, Home Hardware earned more than 6.6 billion in Canadian dollars in 2020 and operates more than 1,100 locations throughout the country.
ILDC, Independent Lumber Dealers Co-Operative is a Canadian-based company that specializes primarily on tools and building materials.
This is clearly a direct competition to Home Depot.
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 boasts over 1,110 retail locations around the world. In 2020, it made $47B and continues to grow its ecommerce platform.
Mohawk Industries has a strong presence in both the commercial and residential flooring industry, making it an obvious competitor to Home Depot.
Mohawk Industries has a variety of ceramic, wood, and other similar products. They are all very high quality.
Each store also has more than 50k products. This makes it easy to find exactly what you need.
In addition, the net sales from more than 22 At Home locations in the United States totaled $1.73Billion for 2020.
Northern Tool & Equipment operates more than 60 shops in 11 states. This is a fantastic place to find home supplies, including tools and hardware.
Additionally, you can find industrial equipment for your business at this store.
Home Depot is one of its competitors in the tool and equipment market with sales exceeding $1 billion.
To know more about Home Depot, you can also see our posts on Home Depot vs. Lowe’s, Home Depot statistics & facts, and the Home Depot target market.
The main Home Depot competitors include Lowe’s, Menard’s, Ace Hardware, Canadian Tire, Home Hardware, and True Value.
Home Depot can also be competed with by stores such as Walmart and Amazon, both of which sell a wide range of home goods at lower prices.
Best Buy also competes against Home Depot in home renovation, especially when it comes time to upgrade your Smart Home or purchase the 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 competitors The Home Depot’s top competitors include Berkshire Hathaway, Lowe’s, Walmart and Amazon. The Home Depot is a specialty home-improvement retailer.
Which is Lowe’s biggest competitor?
Kingfisher (The Home Depot), Target, Walmart and Best Buy are Lowe’s’s most important competitors. Lowe’s offers products for decorating, home construction and maintenance. Kingfisher is an online home improvement retailer.
Home Depot’s Competitive Advantages
Answer: Home Depot relies upon competitive pricing and superior customer service in order to be ahead of its rivals. 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)