15 Biggest Home Depot Competitors
15 Biggest Home Depot Competitors In 2022 (Full Guide)
Home Depot is the largest home improvement retailer in the United States, with more than 1,900 stores and $110.225 billion worth of revenue in 2020. But do you know who Home Depot’s competitors are?
The biggest Home Depot competitors are Lowe’s, Ace Hardware, Menard’s, True Value, and Canadian Tire as of 2022. These stores sell products similar to Home Depot’s but they offer cheaper prices, for example Menard’s because it’s a wholesaler. Additionally, stores like Amazon and Walmart compete with Home Depot because both sell home improvement tools.
Lowe’s looks very much like Home Depot because it’s the largest retailer for home improvement products.
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 home improvement shop is known for carrying a large selection of home goods, such as paint and lumber.
Because it sells similar products, it is a direct competitor to Home Depot.
Menard’s also has a construction and development division.
Menard’s claims that they will save you more money and are known for offering lower prices than Home Depot.
The United States boasts 352 stores. These are mainly located in the Midwest.
True Value Home Improvement Wholesale is a pioneer and leader because they offer products relevant to their location to local consumers.
Additionally, True Value has more than 4,500 stores worldwide, including 400 stores in more than 60 countries.
Ace Hardware can be considered a direct rival to Home Depot. Ace Hardware can be found in most rural areas. This allows for a personal touch with customers, which is not possible at large-box stores 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 competes directly with Home Depot Canada. Canadian Tires’ core business is automotive, hardware, leisure and household products.
Canadian Tire has many similar items to Home Depot including power tools.
Canadian Tire had a total revenue of $14.87 Billion in 2020. That’s incredible considering the company has 1,600 stores 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 does not have the same selection of home improvements items as Home Depot. Walmart does not sell lumber.
Walmart is home to more than 10.500 stores, about half of which are located in the United States. It also has 408 stores here in Canada.
Williams Sonoma has a wide range of home products, including home furniture and cookware.
In 2020, Williams Sonoma’s revenue topped $6.8 billion, and there are more than 625 stores in operation worldwide.
Target can be compared to Home Depot as it also sells many products for home such:
Target, which had more that $93 billion of revenue in 2020, also has more stores than 1,800 in the United States. It also has an international presence.
Home Hardware is Canada’s most renowned home improvement retailer and competes directly with Home Depot on the Canadian market.
Additionally, Home Hardware sells plumbing supplies, home and garden items, tools, painting, and even 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, Independent Lumber Dealers Co-Operative is a Canadian-based company that specializes primarily on tools and building materials.
As you can see, it’s a direct competitor to Home Depot in this market.
Canada is home to over 600 retail locations and annual sales of $4.3 billion. It’s also one of the largest buying cooperatives.
Amazon rivals Home Depot in that it sells everything you’d need to make your home more beautiful, even tools and equipment.
Best Buy has direct competition to Home Depot when it comes to home appliances and electronics.
Additionally, more people are turning to electronic markets to upgrade their homes to be smarter. Best Buy is able to beat Home Depot.
With more than 1,110 stores worldwide, Best Buy made $47 billion in 2020, and the company continues to expand its e-commerce market.
Mohawk Industries leads the market in commercial and residential flooring. This makes Mohawk Industries a direct competitor in this space to Home Depot.
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.
In addition, the net sales from more than 22 At Home locations in the United States totaled $1.73Billion for 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.
Also, this store has industrial equipment that you might need for your business.
Home Depot is one of its competitors in the tool and equipment market with sales exceeding $1 billion.
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 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.
Further, Best Buy competes with Home Depot in the home improvement sector, especially when upgrading to a Smart Home and purchasing relevant electronics.
Home Depot also faces competition from Williams Sonoma, At Home and Williams Sonoma in home furniture and decor.
Which is Home Depot’s biggest competitor?
The Home Depot’s main competitors Berkshire Hathaway’s Lowe’s and Walmart are among the Top 5 competitors. The Home Depot is a home improvement specialty retailer.
Lowe’s Most Important Competitor:
Kingfisher is Lowe’s’s biggest competitor. Lowe’s carries products to help with home repair, construction, remodelling, and decoration. Kingfisher is an online home improvement retailer.
Home Depot: What Competitive Advantages?
Answer: Home Depot relies on competitive pricing and high-quality customer service to stay ahead of its competitors. Home Depot invests in its infrastructure to provide better customer service. This helps it maintain its competitive edge.
Which is bigger, Lowe’s or Home Depot?
The Home Depot’s largest stores are located in 2020. Lowe’s Companies, Inc. operates 1,974 stores.
.15 Biggest Home Depot Competitors In 2022 (Full Guide)
