Home Depot is the world’s largest home improvement retailing company. It operates 690 warehouse-type stores in 43 states and 5 Canadian provinces, offering a broad range of products from lumber to paint and plumbing supplies to furniture.
The Company’s strategy is based on providing customers with a “one-stop-shop” for all their home improvement needs, focusing on the needs of do-it-yourself (DIY) shoppers and professional contractors and tradesmen. Dedicated do-it-yourselfers and tradespeople are encouraged to call their local Home Depot store for advice or assistance, and the company often holds workshops on how to carry out DIY projects, like installing a new water heater or installing new windows.
In addition to the regular assortment of home improvement tools and supplies, Home Depot also offers a variety of services, such as installation of new carpets and doors. Its network of professionals includes plumbers, electricians, remodelers, small business owners, and other experts who can help customers with a wide range of projects.
Developing Customer Value:
The company strives to develop customer loyalty by offering discounts, free shipping, and other incentives to customers. It also has an extensive warranty program and a return policy that guarantees customers receive their purchase within a certain time frame.
Consumers also can save money by checking out the company’s online catalog, which features an extensive selection of items. The company’s website has an online ordering system that allows customers to select their items and have them delivered directly to the store. In the event that an item is damaged upon delivery, the retailer will replace it at no cost to the customer.
Creating Goodwill Through Employees:
The company’s philosophy is that the best way to build customer loyalty is by treating its employees well. It aims to do this by keeping communication open at all levels, welcoming ideas, and rewarding entrepreneurial thinking by promoting from within the company.
As a result, it has created goodwill and a sense of community in its workplaces. It also promotes a culture of teamwork and service at all of its stores, by making its associates an integral part of the store’s operations.
Getting It Right
The Home Depot is a reputable home improvement store with a large selection of home improvement products and a wide reputation for quality workmanship. Its competitive prices, knowledgeable staff and a vast selection of products make it the go-to place for homeowners, do-it-yourselfers, and professional builders and remodelers.
Its employees also enjoy a unique benefit that many companies do not offer: a share of the stock they own. This benefit is an incentive for employees to perform their jobs well and to help the company succeed.
The company has grown rapidly over the last few years, primarily by increasing its customer base. The growth has come from both its DIY segment, which focuses on the do-it-yourself market, and its Pro segment, which caters to the professional tradesmen and remodeling specialists. The Pro segment has outpaced the DIY segment, and this is expected to continue in the future.