This paper analyzes the home improvement retail industry, with specific focus on two organizations: Home Depot and Lowe's.
Written in 2004; 3,635 words; 9 sources; MLA; $ 101.95
Paper Summary:
This paper explains that the home improvement retail industry, which today is a booming success, began with large wholesalers selling building supplies to the American public in the early 1900s. By the 1920s, the store sizes decreased and became the first "mom and pop" style hardware stores, which are now being replace by warehouse-style "big boxes" that have taken over the industry today. The author points out that the major companies of this industry, Home Depot and Lowe's, build and operate "big box" stores, which can sell products at lower prices because of their heavy customer volume. The paper states that, once a company like Home Depot and Lowe's establishes a base, the difference in their success is customer service and building customer loyalty.
Table of Contents
Introduction
Home Improvement Retail: A Brief History
Economic Features
Porter's Five Competitive Forces
Driving Forces
Competitive Position of Major Companies
Competitor Analysis
Key Success Factors
Industry Outlook
From the Paper:
"The most basic economic feature is the industry's market size and growth rate. According to the National Retail Hardware Association's (NRHA) annual industry report, the industry produced $208 billion in sales revenues for the year 2003. This is nearly double from 1993's total sales revenue of $110.2 billion. Home improvement retail accounts for over 30% of the entire specialty retail industry of which home improvement retail is a sub-industry. In addition to a large market size, the home improvement industry has seen a yearly industry average growth rate from 1997 to 2003 of 6.7%. Further, the industry is projected to grow at a rate of 5.2% per year until at least 2008."
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