Comparison Of Home Depot And Lowe's

Home Depot and Lowe’s are two of the largest competitors in the home improvement market. When comparing the two, they both operate under very similar business models targeting the DIY and professional markets, but there are differences in their strategies which provides them both success within this industry. One specific area is in market saturation which Home Depot is ahead of Lowe’s. Home Depot has moved into the global market with stores in the U.S. Puerto Rico, the U.S. Virgin Islands, Guam, Canada, Mexico and China, many of which Lowe’s have not infiltrated. Other areas where the two companies differ are in customer options and store layouts. For example Home Depot is still considered to appeal to professional customers such as

Home Depot has changed theirs over the years to incorporate eight corporate values that are designed to guide the actions of employees at all levels, they are: taking care of our people, giving back to our communities, doing the right thing, excellent customer service, creating shareholder value, building strong relationships, entrepreneurial spirit and respect for all people (Home Depot, 2015). For the Lowe’s organization, their vision is straightforward stating they will provide customer-valued solutions with the best prices, products and services to make Lowe’s the first choice for home improvement (Lowe’s, 2015). Home Depot breaks down their vision into sections so there is no room for interpretation. Although a blanket statement is the direction most organizations go, ensuring the vision is understood and practiced is more effective when it is strategically

For the Home Depot organizations, they have managed to stay in line with their competition and align their strategies to fit the market. Some things that Home Depot’s management can do at the functional level to distinguish them from organizations like Lowe’s is continue to analyze the market and it’s changing trends. This will allow them to understand consumer buying habits and react to any changes. They need to continue with changes to its brand image in order to attract a broader customer base. Since they have always been known to be a professional’s store, they need to put full steam into what their customer service offers which not only brings in customers but allows multiple consumer types to see the changes. Their top priority forward should be to directly targeting its relationship with consumers. This can be accomplished through continued training of their sales staff and enhancing their professional services they provide. Home improvement projects can be pricy and consumers want to know that they are more than a sale to an organization. Home Depot has the products but needs to generate an experience different from its rivals in order to increase that competitive edge in the