Are you looking for Home Depot substitutes if you are in the market for home renovation goods and services? Look nowhere else! This highlighted excerpt will demonstrate some of the significant Home Depot competitors in 2023. These businesses are fantastic for your home renovation requirements since they provide many items, excellent customer service, and affordable costs.
Home Depot now faces fierce competition from several rivals or alternatives. 18 of the main competitors of Home Depot are Amazon, Target, Kohl’s, Home Hardware, Lowe’s, True Value, Ace Hardware, Walmart, Menards, Costco, Best Buy, At Home, Abt Electronics, Sodimac Homecenter, Nebraska Furniture Mart, Staples, Macy’s and J.C Penny.
Home Depot, established by Bernie Marcus and Arthur Black, provides more than 40,000 goods, including tools for gardening and construction. Home Depot’s rivals are significantly less successful than them, with revenues of only about $ 132.11 million. Read on to learn more about the top competitors in the industry if you’re ready to look into Home Depot’s alternatives.
- 1 Top 18 competitors of Home Depot in 2023
- 2 Questions to consider
- 3 Who is the biggest competitor of Home Depot?
- 4 Conclusion
Top 18 competitors of Home Depot in 2023
Many competitors or alternatives to Home Depot have become stiff competition to them. Of them, 18 top home depot competitors are:
One of the most popular competitors of Home Depot and the second largest home improvement retailer in the World is Lowe’s. It was founded in 1946 in Mooresville, North Carolina. Lowe’s offers construction products across the globe. Among the top 100 American retailers, Home Depot is ranked 6th, and Lowe’s at ninth rank.
Further, both Home Depot and Lowe’s are ranked amongst World’s 20 valuable brands, with Home depot ranking 3rd and Lowe’s ranking 9th. Furthermore, Lowe’s serves around 14 million customers per week. Thus, it is a tough competitor for Home Depot in terms of Home improvement.
As we know, Amazon is one of the leading e-commerce retailers in the World and one of the five tech companies as well. However, when we compare Home Depot and Amazon, the latter is the fiercest competitor to Home Depot.
But most consumers prefer Home Depot over Amazon due to their convenience of buying products from nearby retailers rather than waiting for days. Still, Amazon is a hard nut to crack regarding online retailing and pick-up options.
Founded in 1932 in Illinois Chicago, True value is another popular Home depot competitors or alternative. Moreover, they are the leading wholesalers in the World. And they provide construction products and tools. However, Home Depot is a retailer, and True value is a wholesaler.
Furthermore, True value is considered the most experienced Home depot competitors among others, with over 70 years of experience as a Home improved distributor.
Another competitor of Home Depot is Ace Hardware. They are the most popular retailer-owned hardware collaborative. Further, they distribute their products and service around the globe. High customer satisfaction and excellent in-store services make Ace Hardware the preferred home improvement retailer-owned hardware collaborative. Moreover, they also have an online experience of 14 years in terms of experience and merchandise.
Check this out: How to do Competitor SWOT Analysis? 101 Guide
Walmart is one of those brick-and-mortar retail stores that has become the global big-box department store. With over 11,000 stores in 27 countries, Walmart was founded in 1962. Further, the diversified inventory and sustainable growth for the long term is what makes Walmart the strongest Home Depot competitors among others.
Moreover, they operate based on the cost leadership strategy wherein they leverage supplier connections with higher discounts when compared to others.
Another popular home depot competitor is Menards. They are the best retail chain that offers construction materials and home decor. Further, it is a family-owned company that operates 300 stores across 14 US states.
Their slogan, “Save Big money,” is something that entices consumers who are budget conscious. Although, with 10 million in revenue in 2020, Menards is near Home Depot in terms of revenue. But still, they are the most formidable competitors of Home Depot.
The next most popular home depot competitor is Target. Moreover, they are World’s most prominent retailers in the World. It also offers everything from home improvement products to home appliances and more.
The low-cost home improvement tools production makes Target more competitive than Home Depot. Furthermore, it is the most innovative competitors amongst others.
A Privately owned Canadian home improvement retail company, Home Hardware offers lumber, decor, and building materials, and more like Home Depot, the latter (Home Hardware) has a more substantial presence in Canada. Moreover, becoming the top competitor of Home Depot in Canada alone.
Furthermore, it is the leading dealer-owned hardware company in the World.
Another top home depot competitor is Costco. They are a wholesale retailer in the US. Further, it offers home improvement products like furnishings, home appliances, Kitchenware, and more.
High-quality products at affordable prices make Costco a preferred retailer compared to Home Depot. And it is the strongest competitor of Home Depot.
Best buy is another popular competitor of Home Depot, and it is the most popular consumer retailer store in the US, spread across Mexico and Canada. Furthermore, it is the best alternative for home depot to buy home appliances.
However, Best Buy’s advantage over Home Depot is its best deals for customers, like price matches.
The next most popular competitor of Home Depot is At Home. They are the best home decor chain store in the US and are formidable competitors to Home Depot regarding home decoration space. Further, they offer everything that a customer needs.
Be it Furniture, mirrors, or wall art to decorate their homes. Thus, At Home is a more specialized company compared to Home Depot in the decor sector.
Kohl’s is another retail store that can be a strong competitor to Home Depot. It provides bedding, home furniture, appliances, and more to customers across 49 states of the US.
Moreover, they have a robust online presence that has growing footprint and loyalty programs in e-commerce. Furthermore, they are the most experienced retail store in the appliance sector compared to Home Depot.
Another popular Home Depot competitors are Abt electronics. They are the most popular retailers selling home appliances, Furniture, and more. Moreover, they have been awarded the top spot on consumer reports for over 11 years.
Further, they are the best alternatives to Home Depot in producing home appliances.
Sodimac Homecenter is another popular Home Depot competitors for home improvement products supply chain stores. They operate their retail stores in Mexico, where Home Depot consists of 6 stores in total.
Now the Sodimac Homecenter has more stores in Mexico than its competitor Home Depot. Further, it is one of the top competitors of Home Depot in Mexico.
Nebraska Furniture Mart
North America’s largest furnishing store for Home, Nebraska Furniture Mart, is the next popular Home Depot competitor. They offer home improvement products like Furniture, flooring, appliances, and more through brick-and-mortar stores.
Moreover, it is the 5th best retailer in North America in the production of home appliances.
Staples is another top Home Depot competitors, a retail store offering office supplies and related products. Further, they come with B2 B-oriented delivery options.
Moreover, when we compare Staples and Home Depot in terms of production and supply of office supplies and related products, both are tough competitors.
The next most popular competitor of Home Depot is Macy’s. It is an American department store with around 551 stores across the World. Founded in 1858, Macy’s is one of the oldest competitors of Home Depot.
Moreover, it is the most preferred retail store in the US compared to the latter.
Another popular home depot competitor is J.C Penny. They are known for the production and supply of conventional merchandise and fine jewelry as well.
Big names like The Salon, Instyle, and more are some of the jewelry brands we can find here.
Questions to consider
Who is the biggest competitor of Home Depot?
Lowes is the most significant competitor of Home Depot.
Which retail store is better, Home Depot or Lowes?
The Home Depot is slightly better than Lowes in terms of store atmosphere. However, in general, they are almost equal.
Is Amazon one of the competitors of Home Depot?
Yes, Amazon is one of the competitors of Home Depot as they also focus on the supply of home improvement products like Home Depot.
Which is a bigger retail store in terms of revenue Home Depot or Menards?
Home Depot is a bigger retail store than that Menards in terms of revenue because they have a net value of around $ 110. 2 billion.
Hence, Home Depot is one of the most successful home improvement suppliers and retailers. And no matter how many competitors come up in the retail sector, Home Depot will remain the best Home improvement, retailer.