Battle for the Wallets of American Homeowners, October 2006Retail Forward, Inc.October 1, 2006 24 Pages - SKU: RETF1515866 |
| Countries covered: United States For years, The Home Depot and Lowe's have battled on the home improvement front. Cross-shopping is common so consumers experience both stores on a regular basis. A recently conducted nationally representative survey of 1,000 homeowners indicates that the two companies are closely matched in terms of being the preferred store to shop. Survey results show that 51% of homeowners prefer Lowe's over The Home Depot. Among the 14 product categories included in the survey, Lowe’s receives superior ratings from more homeowners in nine of the product categories. And, when Lowe's receives a higher rating for a category than does The Home Depot, the gap between the ratings is much wider than it is when The Home Depot receives higher ratings than Lowe's. Although the study reports that Lowe's may have a lead in share of preference, The Home Depot leads in share of wallet. Lowe's is getting an average of almost 10% less from those that prefer it compared to what The Home Depot gets from homeowners that prefer it. The study also reports that being conveniently located is the strongest predictor for where homeowners spend the greatest portion of their home improvement dollars |
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