Home Depot - Executive Summary Essay

Home Depot’s retail strategy is one of reasons for its fast growth and continued leadership in the home improvement retailer industry. Its focus on speed, efficiency, and quality has made it one of the largest retailers in the world. Home Depot focuses on being a leader in “product authority.” Walmart and Costco are leaders

Home Depot (HD) is a home improvement retailer specializing in a high volume and low cost strategy. HD offers a variety of products spanning from lawn and garden to home improvement. Table 1 compares Home Depot to Lowes. HD overall market cap is more than 2 times Lowes. HD tends to be more affected by movement in the market than Lowes as demonstrated by their Beta values.

The Home Depot mission statement reads as follows: “The Home Depot is in the home improvement business and our goal is to provide the highest level of service, the broadest selection of products and the most competitive prices. We are a values-driven company and our eight values include the following: excellent customer service, taking care of our people, giving back, doing the “right” things, creating shareholder value, respect for all people, entrepreneurial spirit, and building strong relationships.”

The Home Depot is the fastest growing retailer in U.S. History and currently has more than 2,200 convenient locations throughout the United States (including the territories of Puerto Rico and the Virgin Islands), Canada, China and Mexico. Stores average 105,000 square feet with approximately 23,000 additional square feet of outside garden area (The Home Depot, 2012). The retail inventory consists of up to 40,000 different kinds of building materials, home improvement supplies, appliances and lawn and garden products for all of your project needs. Selections may vary from store to store because

The Home Depot knows that they must stay on top of technology and management must be able to organize this function in a way that surpasses the competition, pleases the customers, and keep the employees satisfied.

Home Depot company offer a wide range of merchandise and services, and serve three primary customer groups: do-it-yourself customers, do-it-for-me customers and professional customers. A classic Home Depot store stocks approximately 40,000 to 50,000 product items, including variations in color and size. Major product groups include building materials, lumber plumbing, electrical and kitchen; hardware and seasonal, and paint, flooring and wall coverings. To balance the national brand name products it offers, the Company has formed strategic associations with vendor partners to market products under brand names that are only offered through The Home Depot. “As of fiscal

The Home Depot (NYSE: HD) is a home improvement, construction products and services retailer operating over 2,000 big-box stores in the United States and abroad. The Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank with the vision of one-stop shopping for do-it-yourself (DIY) customers, installation services for do-it-for-me (DIFM) customers and competitive products for the professional market. Their DIFM installation programs include products such as carpeting, flooring, cabinets, countertops, and water heaters. In addition, the company provides installation of various professional products like generators and HVAC systems.

Home Depot is the world's largest home improvement retailer operating in 45 states, Canada, Chili and Puerto Rico. Home Depot stores aim to serve both do-it-yourselfers and professional contractors with home improvement superstores carrying between 40,000 and 50,000 different products. Home Depot has also been listed as one of Fortune's most admired specialty retailers for the past six years. In order for companies to succeed in the competitive current marketplace they must consider not only the bottom line and their investors but also their impacts on the community, their employees, and their customers. Home Depot was founded on the idea that treating employees well is an important responsibility. Home Depot believes employees that are

Home Depot is a large retail home improvement Store. They sell an assortment of home improvement products, building materials, lawn and garden products, and also provides various services. The strategy I feel that works well The Home Depot stores focuses on serving three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers. Home depot has approximately 2,278 stores across the United States and Puerto Rico.

Home Depot's varied selection of products and services and its own extensive network of stores permit it to boost sales and increase success. Home Depot's business stretches across a network around 2,269 stores over the U.S., Canada, and Mexico. Its store inventory contains almost 30,000 to 40,000 different sorts of building materials, do-it-yourself supplies, home appliances, and backyard and garden products. It provides its products under various categories, particularly floor coverings, tools, paint, lumber, kitchen and bathroom, plumbing, interior garden, home appliances, building materials, hardware, decoration, outdoor garden, millwork, electrical power, and

1. Home Depot currently has 2,200 stores that are open in the United States (homedepot.com, 2017.) The Home Depot stores are known for offering home improvement materials, construction materials, and other products as well as services. The concept and stores were created in 1978 by Arthur Blank and Bernie Marcus (homedepot.com, 2017.) These two creators had an idea for their store to be a facility where customers could come to find a various array of products and services that cater to the do it yourself group. The intent for their organization also included ideas and concepts that allow for customers to find a source for different installation services and offering different products that are intended for the professionals working in the

Home Depot 's target market is individual homeowners/small contractors. Even though the traditional ideology is that cost leadership and product differentiation business strategies are mutually exclusive, Home Depot was successful at using a combination strategy. First, Home Depot optimized the cost leadership strategy by offering low and competitive prices to its customers by emphasizing higher sales volumes with lower margins, while instituting a high inventory turnover. Home Depot successfully offered a warehouse product strategy to the individual consumer for the first time. Previously, this type of price discounting was only available to professional contractors who earned product price

The Home Depot Inc. was founded in 1978 and is the world’s largest home improvement retailer and the second largest retailer in the United States. The sales for the fiscal year 2000 were $45.7 billion, compared to $38.4 billion in fiscal 1999. As of January 2001, the company was operating 1,134 retail stores in forty-seven states, six Canadian provinces, Puerto Rico, Chile and Argentina.

Home Depot (TheHomeDepot, n.d.) began as a two store operation in Atlanta, GA in 1979. The concept was the brainchild of Bernie Marcus and Arthur Blank, with inspiration from investment banker Ken Langone and well know merchandising expert Pat Farrah. They envisioned a one stop, do it yourself store that carried most of the products needed to do common home care projects.

The latest to join the list is Home Depot, which is an American Retailer of home improvement and construction products and services. Home Depot is the largest home improvement retailer in the United States with revenue of about 75 Billion USD (Statement 1. (n.d.)).