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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?
Lowe’s has been competing with Ace Hardware, Menard’s True Value and Lowe’s since 2022. These stores have similar products to Home Depot but, Menard’s has lower prices as it’s wholesaler. Home Depot is also competitive with stores such as Amazon and Walmart, which sell tools for home improvements.
Lowe’s is very similar to Home Depot since it’s one of the biggest home improvement retail stores.
Lowe’s also carries all the products needed for indoor and outdoor 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, a top home improvement retailer, offers a wide range of products for the home including paint and lumber.
It sells the same products as Home Depot and is therefore a direct rival.
Menard’s has an investment and construction department.
Menard’s’ slogan is you’ll be saving more and they are better 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 Home Improvement Wholesale is a pioneer and leader because they offer products relevant to their location to local consumers.
True Value is also home to more than 4500 stores, which includes 400 shops in over 60 nations.
Ace Hardware has direct competition 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 has it all, from:
Ace Hardware also generated $7.76 Billion in revenues for 2020. This makes it an even tougher competitor to Home Depot.
Canadian Tire directly competes with Home Depot in Canada. Canadian Tires’ core business is automotive, hardware, leisure and household products.
Canadian Tire also has many products that are very similar to Home Depot’s, such as power tools and equipment.
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 is a retailer that offers many household products and also lawn and gardening items.
Walmart, however, doesn’t offer the same variety of products for home improvement as Home Depot. Also, Walmart doesn’t carry lumber in-store.
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 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 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. Plus, it has an international presence.
Home Hardware, Canada’s largest home improvement store, directly competes in Canada with Home Depot.
Home Hardware also offers plumbing supplies, home- and garden products, tools, painting and automotive products.
Home Hardware has more than 1,100 stores across Canada and earned more Canadian dollars than 6.6 Billion in 2020.
ILDC, Independent Lumber Dealers Co-Operative is a Canadian-based company that specializes primarily on tools and building materials.
You’ll see it’s directly competing in the market with Home Depot.
Also, there are more than 600 locations in Canada, and sales routinely surpass $4.3 billion, making it one of the leading buying cooperatives.
Amazon can be compared to Home Depot because it offers just about everything you need, from tools and equipment, for home improvements, as well as lawn care.
Best Buy competes directly with Home Depot in home appliance, electronic, and home improvement categories.
Aside from that, young homeowners are increasingly turning to the electronic marketplace to transform their homes into Smart Homes. Best Buy will beat Home Depot.
Best Buy owns more than 1110 retail stores around the world and earned $47 billion in 2020. It also expands its online market.
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.
Additionally, the stores contain more than 50.000 products. It offers a wide selection that will ensure you get exactly what your 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.
You can also find industrial equipment here for your company.
It is therefore one of Home Depot’s main competitors in the market for tools and equipment, having sold more than $1 million.
You can read our post on Home Depot vs. Lowe’s and Home Depot statistics & figures, as well as the Home Depot target markets.
Lowe’s Home Depot is competing with Ace Hardware, Menard’s Home Hardware, Canadian Tire and Home Hardware.
Home Depot’s competitors include Walmart and Amazon who both offer more home products for a lower price.
Further, Best Buy competes with Home Depot in the home improvement sector, especially when upgrading to a Smart Home and purchasing relevant electronics.
Also, Home Depot has competition from stores like At Home and Williams Sonoma when it comes to home furnishings and decor.
What is Home Depot’s Biggest Competition?
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.
Lowe’s Most Important Competitor:
Kingfisher is Lowe’s’s biggest competitor. Lowe’s is a retailer of products for home construction, maintenance, repair, remodeling, and decorating. Kingfisher is a retailer of home improvement products.
Home Depot has Competitive Advantages
Answer: Home Depot relies heavily on its competitive pricing strategy and top-quality customer service to stay ahead. It also invests money in infrastructure, which allows for improved customer service.
Which is bigger, Lowe’s or Home Depot?
In 2020, the majority of The Home Depot’s stores were located in the United States and it operated over 2,000 stores worldwide, while Lowe’s Companies, Inc. operated 1,974 stores.Mar 31, 2021
.15 Biggest Home Depot Competitors In 2022 (Full Guide)