![]() This is the core principle of what they call the ‘Superstore’. The whole idea behind the shopping experience is that you’re going to your own personal warehouse where you can engage meaningfully with the people working there, rather than just a mere retail store. ![]() ![]() As a result, it feels more like a warehouse than a retail store, which is entirely intentional. This is because home Depot stores are some of the largest you’ll find on the market (based on square footage), with the average size coming in at around 9,755m2. When you enter a Home Depot store for the first time, your initial impression will undoubtedly be about its size. We have a lot to learn from a company like this and so let’s now look into some of the key strategic decisions they made to get to where they are today. All of this comes together to form a truly global conglomerate that dominates its particular vertical and has become synonymous with the very concept of home improvement. ![]() In addition, they have various other investments across Asia and South America. Their current global footprint boasts over 2,200 stores across the USA, Puerto Rico, the US Virgin Islands, Guam, Canada, and Mexico. They continued to grow and expand from there, opening their 2,000th store in 2005 and growing from strength to strength from then. In the ‘90s, they spread their wings into Canada and Mexico through some carefully considered acquisitions that brought their operational capabilities to an existing customer base, proving that they could transcend the US borders and provide value in other contexts. They took that momentum and went public a few years later, and by the end of 1989, they had 100 operational stores. The cultural context at the time played in their favor, and they quickly heard of demand across the country for the offering they were providing in end-to-end home improvement. They found some early success that emboldened their vision for what a classic home improvement retailer could be. Within a couple of months, they had incorporated a company and launched their first two stores in 1979.īernie Marcus (left) and Arthur Blank (right) They didn’t see it as a bad thing, but instead, it was an opportunity for them to take all they had learned about the business and craft a new concept that would revolutionize the world of at-home improvement. The story starts back in 1978 when Bernie Marcus and Arthur Blank were fired from their previous job working at another home improvement retailer. It wasn’t always easy, there were many bumps along the way, but they’ve managed to stay relevant through it all, delivering exceptional value to customers. These are some of the questions we’ll answer in this strategy study as we dig into the Home Depot and unpack some of the insights that led it to be the operation it is today. 17% market share of the US home improvement market.$132.1 Billion (USD) in revenue in 2020, an increase 0f $21.9 Billion from 2019.Before we get into the growth story of Home Depot, let's check out some of their astounding stats Over decades now, Home Depot has entrenched itself in American culture and has shaped itself into one of those retailers that command the lion’s share of its industry.
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