Consumer Behavior

Home Depot tops with consumers

Photo: JHVEPhoto - stock.adobe.com

June 13, 2024

Home Depot captured 29% of home improvement spending in the first quarter of the year with Lowe's taking second place with 20%, according to a Numerator survey.

When it comes to home improvement purchases, hand tools and outdoor power equipment led in terms of growth in household penetration while the kitchen and bathroom categories experienced declines, according to a release on the findings.

Consumer reasons for purchasing from a specific retailer included convenient location (44.2%), best prices (43.9%) and product options/availability (36.1%).