How Home Depot Became the World’s Largest Home-Improvement Retailer | WSJ The Economics Of
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- čas přidán 29. 03. 2022
- Home Depot is the world’s largest home-improvement retail company, with a net worth of about $350 billion. Here’s an inside look at how it became the dominant player in home improvement by catering to its professional customers.
Photo: Katie Wise
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I'm a home rental investor and what I love most about Home Depot is the ability to track all digital receipts purchased from any credit card stored in an account. It saves us so much time from finding and scanning the receipts for tax purposes.
Why you need receipts for tax - could you explain please? Is this tax return, how it's works?
@@bbrother92 Yes, for filing tax return at the end of year. We need to report to IRS the total of how much spent on repair or home improvements. Also, we need to keep their records for many years in case of an audit.
@@jaytrg take care, thanks
It used to be that credit card transactions had to be saved for 7 years. This, of course, was when the receipts were paper. Now it would be easier to store and keep information much longer.
I'm a licensed electrical contractor. I prefer HD simply because they usually have what I need - and not just electrical stuff either. I need shovels, garbage bags, garbage cans, paint, plywood, and a variety of other "things" to make my business work. Home Depot is good to me but I can see how a homeowner/ DIY'er can be frustrated with the store because they do lack in service when it comes to, "hey, what do I need to patch a leaky roof? Or, what size conduit do I need to run power to my shed?" Fortunately I know where everything is and how to use the HD app to find what I need and I very rarely ever speak to anyone inside the store. Lowes? Well, I rarely ever visit Lowes for anything. Also, Home Depot sells Milwaukee Tools and Lowes does not.
I used to work for depot and got a raise to go to lowes and the companies are much different. I feel lowes is very focused on diy customers and depot is focused on pros. Pros spend more money so I can understand depot beating lowes in sales. Depot is also better in technology. In my experience lowes is better at customer service
Would like to see a series comparing competitors, in this case Home Depot and Lowe's
Watch Company Man
I believe you have it a bit wrong on why the pro sales have increased. They are not cheaper than specific suppliers, but are larger and have the material. The issue with the supply chain is why HD grew this base. Homes are being built out of HD because it’s the only place you can get material, not for any other reason.
My dad is a GC and it’s wild to me that any homedepot within a 20 mile radius (15 stores) there is always a couple employees that approach him to just have a conversation. I think this is a big aspect a lot of people miss. Employees know their pro customers on a personal level, my father doesn’t have many friends outside of work & I think their are many old school family man immigrant GCs like him. That being said for any bulk purchase he has wholesalers to go to, homedepot mostly for tools and small items.
Please do more videos on this series.The economics of......... Love them.
What bothered me the most in the "early morning" Home Depot ad is that some of them chose to park at the far end of the parking lot even tho it's completely empty
Maybe they want the exercise? Or extra room to load lumber?
More videos of this PLEASE!
Love this series - keep it going
3:43 i like that. Thats the most realistic contractor there lol
Gotta love Craig Menear and his hard work
But you wanna know what sucks? All this continued growth, without having enough workers to fill that growth.
because they pay the new hired same as the knowledgeable associates, no respect to the workers worked more than 3 years! the leaders only care how to clam to higher lever to get more money!!
Wonderful
We can all agree that they never fail to entertain us 💞💞
As a pro myself (house flipper) I choose Home Depot over all others.
A GREAT Seeking Alpha deep-dive...
----->The Economics Of Home Depot - The Past 21 Years And 3 CEOs
I worked there, they have a real good culture!
Quiero comprar en linea un duo taladro y atornillador impacto dewalt¿esta la promocion $899.00?
Nice video.
When I went USA 🇺🇸 in 1999, when USA 🇺🇸 was at its all time peak 🗻 from Pakistan 🇵🇰 a third world country at that time ⌚, I found home depot to be mini America 🇺🇸. Every thing you wanted to know how America 🇺🇸 and American people became the world 🗺 most powerful nation. ANSWER was home depot, It was the people who built a nation, not governments. ❤ Americans 🇺🇸 are perfectionist and to achieve perfection you have to do it yourself.
آپ کا بھائی بھی پاکستان میں ہوم ڈپو کی طرح سٹورز کھولے گا اس کا نام ہوگا " انصاف ہوم امپرومنٹ".
My son an Afghanistan war vet got hired at one. He's in 3rd year medical school but home depot allows him to work when he can.
HD is my second home when I fix/repair my fixer upper. I wished they let me sleep in my favorite sections - lights and gardening 😁
I'd like to see TARGET next!
Good appreciate
Stocks 40,000 items...and 1 of the 10 items you need are out of stock. I'm talking about pre-covid times. But here in Phoenix HD has the advantage by their number of stores. I would prefer Lowe's but depending where I'm working Lowe's can be a long way away while HD is almost always close.
I hate lowes
I work freight at HD and its literally stupid the amount of stuff we get. We get 10 boxes for a single SKU and absolutely nothing for the spot that's been empty for months. All of the inventory is automated
@@maple_vanilla "All of the inventory is automated." That right there is the problem. Those missing items never come up past a certain point because 'not there' means 'not sold'. Plus, they don't track the DAY they are sold. Like Monday vs Thursday. Plumbers will load up on stock early in the week, not later.
My motto for both HD and Lowes is: "80% of what you need, every day."
I will DRIVE past 3 Home depot to get to lowes
how? supplying wsj the tools to make work spaces in places
God I love that song. Home Depot keeps spinning up new jingles for 20 years
Your consistency and quality of content never disappoints! ❤️
what?
This was a joke
Great video l, do one on TJX companies next!
You will never shop at their stores after working for them!
Home Depot is a monopoly. Price at HD is just unbelievable.
You'd better be a pro because their associates don't know what they're talking about if you need help. That's what happened at Sears. All the knowledgeable people were let go.
Depends on the store but yes in general there has been a decrease in knowledgeable people wanting to work for HD, but this is happening in most retail companies. No reason to hire a person for higher rate if the customer can just look on CZcams or Google to learn how to do something.
Unionize them!
Quality video 👍
"try" is key word.
"Carly the carpenter" LOL
Seems like an extended ad with a hint of competitor smearing.
If Home Depot's P/E drops in half it would be an amazing investing opportunity.
now 19’92, it is a good chance
I spend big money at Menards.
2008 COLLAPS WAS THE BANKS SOLD MORTAGES ON A PAYMENT ON DEMAND CLAUSE..THE BAIL OUT ON BANKS SHOULD HAD GIVEN HOMES TO THE ORIGINAL MORTAGES OWNERS. OR ALLOWED THE OWNERS A FULL REFUND INSTEAD OF FORCLOSURES.
HomeDepot Stock Holder ^^
What? No mention of the 12ft skeleton?!
Yeah seeing a lot of people take like sink faucets with calls like for $500 taking them straight up to the return and get a gift card for change to something dating mirabai they need to change their policy when you buy something you can't return it but you got a receipt another day do it with three times breakout but still people take advantage of that
Home Depot isn't real
This isn't really an economics of video, you just said that they are a retailer and not much else... I'm pretty disappointed to be honest
right? It wasn't much more than a commercial, and really it was a poor one at that...? haha
What about their HR policies against the white Christian
Why did WSJ just show me a 6 minute (poorly made) commercial for The Home Depot? haha I would love to know what Home Depot paid for this publicity...? =)
There’s nothing I could say other than the fact that your username is a accurate representation of your personality
I was overworked, exploited, harassed and abused by the Home depot management team on 23rd Street in NYC. The Human Rights division followed up my complaints and found that I was right and tge Supervisors resposible were fired however I have never been compensated by Home depot. Years later my incident of filing reports, there was a murder suicide by an employee who shot his supervisor in that same store sadly in the lighting department. I know this store management needs to be held accountable for a lot of problems they cause especially against me when I received a lot of great recommendations through the Voice of the Customer website by Home Depot.
I frigging LOVE home depot!! It's a manly place!!
HD will say that you have male privilege
But they can’t deliver a $99 grill. Home Depot can kick rocks.
Can’t seem to pay the employees Jack s
The WSJ makes some of the more nuanced comedy videos on CZcams.
It was Pergament before Home Depot came into New York. And Pergament was gone like a bad habit. Pergament started as a real estate venture and owned most of it property. I guess it couldn't compete with a store that was similar to itself.
This is a commercial
Need green machine mower
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sell all TWTR stock now
Needs unionization.
Menards is king in the midwest
Plumbers go to ferg
"Over 2300 stores in north america" while showing only stores in the US. Typical.
For a professional, home depot beats Lowe's hands down.
This is a commercial for a really bad business. You can buy water and Halloween props, but you can't find any of the hardware item that are not top sellers. They concentrate on the most popular 75% of the items in any product line. You always come out unable to finish a project. Plus the prices on many small items are atrocious. I have blacklisted HD.
The dangerous thing about HD or Lowe’s is the mediocre quality components they sell leading an entire generation to think that this is all that is available to the consumer.
Go visit a true electrical supply or plumbing house.
If you need barely good enough, the big box is for you.
So this is IKEA of USA
And they just bought hd supply
If you're so dominant come to Australia...
I personally don't like homedepot, they give people thank you notes for saving them millions of dollars and they fire at will far too often. Pretty terrible place to work a decade ago. I'm sure they are fine now
Lowes over
Buy more from walmart and amazon. HD is a joke of a company today. They were awesome some decades ago. Not anymore. As bad as Lowes.
I own two homes and had to buy a new sink, faucet and garbage disposal for the kitchen. All bought at home depot and installed by me in 3 hours!
Lowes oven
meanwhile nothing on menards lol
If a contractor you hired gets all of their main materials at home depot, do look for another contractor.
Home Depot seems to be a good place to work, at my local store I can think of at least four employees that have been there 20 plus years, they are almost always upbeat and happy to help, I miss the coffee since the scamdemic hit
Not for me! Lowes is so much better.
How many lowes ppl watching this?
The economics? They charge customers a lot and in many parts of the country a customer has little choice. $$$ mo' money. Mo' money
Quran 64:14
yeah you buy something with CASH then need to return it UNopened with a the receipt in time! they want to give you a gift card after that I quit going UNLESS LOWES does not have what I need!
Worst service inside the store though
Menards is wayyy better and cheaper.
not after that woke pamphlet leak. i will NEVER shop at home depot again.
😥😥
I would like to know why this "largest Home-Improvement Retailer" doesn't have American citizens doing their installation work. I just wanted to have some tile placed in my bathroom and they cannot provide me with 2 English speaking workers to do it. So, is that how they got their reputation as being the largest retailer? With cheap labor?
I guess the other English speaking employees were on other jobs. They are hiring though if you are interested in filling a need.
There are lots of jobs in the USA Americans would not do. Well someone got to do it. Americans are welcome to put the business on home depot list if they want to, home depot is not responsible to go looking for Americans contractors. Contractors are the ones responsible to let retailers know what they have to offer!
@@Jessicalovechocolate No, they didn't have any English speaking employees, only the so called owner. I am speaking about the people who come out to your home and install their products, they are not Home Depot employees. They are subcontractors willing to work for the lowest amount. It isn't based on quality.
*CONSUMER HARDWARE STORES WOOD SUCKS A@@! THEY ARE STILL WET AND WILL WARP*
Great depression made Lowe an unprecedented pandemic made HD.
🍓🍉🍜🐖ThanksGiving year🎼🏈 2001 🍟🔬📎
👎
HD is the same !!!! Americans need to travel and see the world lol
they still live in 80s 😂
Deadass they abuse their workers
HOME DEPOT PRICE GOUGES THE BUYERS .. LUMBER 200 - 300 PERCENT ..
Thanks for God Heavenly Father Jesus Christ Joseph and Mary Blessings United States of America vs Viet Nam Cong Hoa Country today.
Menards over Home Depot
Menards is better
They also indorse Trump and white nationalist 🤷🏿♂️
why does home depot give millions to donald trump?
It should have said the largest chain of home improverment store. During the obama time when US and CH was in the best cozy relationships, the post TARP program had made HD in short supplies due to the super fast rise of home projects. Today, the price is spiral upward because of biden uncontrollable rising inflation. With new prime rate hiking from the fed and more possible t-notes auctions down the line, the economy would be more than likely to fall backward into the reccession bottom. Once the price is hiked, it ain't falling back because the WS says it so! So be the chicago ME. We don't have the super presidents in the modern day anymore. The national presidetial position is saleable as seen in 2016 when trump decided to buy his presidency at $200 M USD. He got the deal!
Isn’t it clear how they became successful…by stuffing their shelves full of cheap Chinese products and undercutting smaller rivals? Like Walmart. We need a video for this?
Where do you think Walmart’s products come from?
@@getintothewildwithjeffruma8777 Don’t have the exact numbers in front of me, but I’m sure a disproportionate amount comes from outside the US with China leading the way. Fact check me, love to be wrong in this case.
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Use to spend quite a bit at HD. But after their "gone woke" employee flyer, well, I will now exercise my privilege to drive the extra 1/2 mile to their competitor. Thought they were a home improvement type company, not a social indoctrination company.
What gone woke employee flyer?
🚍PHOENIX ARIZONA 2001📝