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Home Depot Executive Summary

1052 Words5 Pages

The Home Depot (“HD”) is the world’s largest home improvement retailer based on Net Sales for the fiscal year ended February 1, 2015. The Home Depot stores sell a wide assortment of building materials, home improvement products and lawn & garden products and provide a number of associated customer services. Understanding Home Improvement Market U.S. Home Improvement market estimated to be $550 billion in FY 2014 consists ofRetail Products, Services and MRO (Maintenance, repair and operations). Retail Products constitute 65.5% of the total market followed by services 25.5% and MRO 9%. Home Depot with $83 billion sales in FY2014 holds 15% market share in Home Improvement Market. Key Elements Of Home Depot Business Strategy Home Depot is focusing …show more content…

It offers low price guarantee to beat competition across product segments. For customers requiring qualified professionals for home renovation projects, Home Depot offers installation services through pre-screened independent contractors. Free How-To Clinics and Kids Workshops are other service differentiators that have enabled Home Depot become successful in Retail product and service business …show more content…

It further categorise its individual customers as Do-It-Yourself (“DIY”) Customers and Do-It-For-Me (“DIFM”) Customers. Grow Individual Customer Segment: In-line with the changing customer needs, Home Depot is working on providing interconnected shopping experience. Company generated 4.5% of its net sales in FY 2014 from online channels. Home Depot is utilising in-store mobile technology to enable its associates to help customers with their home improvement projects. It offers a variety of clinics and workshops to impart knowledge and to build an emotional connection with DIY individual customer segment. Company offers a variety of installation services targeted at DIFM customers. Grow Professional Customers Segment: These customers are primarily professional remodelers, general contractors, repairmen, small business owners and tradesmen. Company offers a variety of special programs to these customers, including delivery and will-call services, dedicated staff, expanded credit programs, designated parking spaces close to store entrances and bulk pricing programs for both online and in-store purchases. It also offers a loyalty program, Pro Xtra, that provides professional customers with discounts on useful business services, exclusive product offers and a purchase tracking

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