Home Depot is the largest home improvement retailer in the United States, with more than 1,900 stores and $110.225 billion worth of revenue in 2020. But do you know who Home Depot’s competitors are?
Do you think any other home improvement stores can compare to Home Depot? Well, I’ll tell you all about the 15 major Home Depot competitors in the United States and Canada!
Key Takeaways
Home Depot Competitors In 2022
The biggest Home Depot competitors are Lowe’s, Ace Hardware, Menard’s, True Value, and Canadian Tire as of 2022. These stores sell similar products to Home Depot, but some, such as Menard’s, offer much lower prices since it’s a wholesaler. Additionally, stores like Amazon and Walmart compete with Home Depot because both sell home improvement tools.
Do you want to know more about the Home Depot competitors, such as how much revenue they made in 2020? Read below to learn all about Home Depot’s competition!
1. Lowe’s
Lowe’s is very similar to Home Depot since it’s one of the biggest home improvement retail stores.
Also, Lowe’s carries the same types of products for all indoor and outdoor household tasks.
Additionally, Lowe’s has more than 1.974 stores in the United States and Canada, generating an annual revenue of $72.148 billion in 2020.
2. Menard’s
Menard’s is a leading home improvement store offering a variety of items for your home, including paint, lumber, and household goods.
Because it sells similar products, it is a direct competitor to Home Depot.
Furthermore, Menard’s is in the real estate market and has a development and construction division.
One of the taglines of Menard’s is that you’ll save more money, and the company is known for having lower prices than Home Depot.
Finally, there are 352 stores in the United States, with most locations being in the Midwest, which earned more than $12.8 billion of revenue in 2020.
3. True Value
True Value is a leader and innovator as a home improvement wholesale store since it offers products to consumers that are local and relevant to its location.
Additionally, True Value has more than 4,500 stores worldwide, including 400 stores in more than 60 countries.
In 2019, True Value made more than $4.94 billion in retail sales, which is impressive and shows that the company is nearly as strong as Home Depot!
4. Ace Hardware
Ace Hardware is a direct competitor to Home Depot. That said, it’s found mostly in rural areas, offering a more personal connection to customers than big-box chains like Home Depot.
Additionally, you’ll find everything you need at Ace Hardware, including:
- Tools
- Grills
- Home improvement products
- Paint
- Gardening products
- And much more!
Also, Ace Hardware has over 5,500 hardware stores in more than 70 countries, including locations in Canada!
On top of that, Ace Hardware generated more than $7.76 billion in revenue for 2020, making it a tough competitor to Home Depot.
5. Canadian Tire (Canada)
Canadian Tire directly competes with Home Depot in Canada. With that, Canadian Tires specializes in automotive, hardware, leisure, sports, and household goods.
Also, many of the items you’ll find in Canadian Tire are similar to items in Home Depot, including power tools and equipment.
In 2020, Canadian Tire’s revenue was $14.87 billion, which is incredible for a company with about 1,600 locations throughout Canada.
6. Walmart
Walmart offers a variety of household goods, lawn and garden items, home improvement products, and more that allow it to be a competitor to Home Depot.
On top of that, Walmart prices are lower on many items, and with more than $559 billion in revenue for 2020, it’s quite the competition!
However, Walmart doesn’t have near the selection that Home Depot does regarding home improvement items. Also, Walmart doesn’t carry lumber in-store.
Walmart has more than 10,500 stores worldwide, with about half in the United States and more than 408 stores in Canada.
7. Williams Sonoma
Williams Sonoma offers a variety of products for the home, such as home furnishings, specializing in kitchen items, including cookware.
Furthermore, Williams Sonoma is a higher-end company, so if you want high-quality products and are willing to pay the price, it’s your best bet!
In 2020, Williams Sonoma’s revenue topped $6.8 billion, and there are more than 625 stores in operation worldwide.
8. Target
Target is a competitor to Home Depot since it sells various products for the home, including:
- Home furnishings
- Lighting fixtures
- Lawn and garden items
Moreover, Target had more than $93 billion in revenue for 2020 and operates more than 1,800 stores in the United States. Plus, it has an international presence.
9. Home Hardware (Canada)
Home Hardware is one of Canada’s leading home improvement stores and directly competes with Home Depot in the Canadian market.
Additionally, Home Hardware sells plumbing supplies, home and garden items, tools, painting, and even automotive products.
Also, Home Hardware earned more than 6.6 billion in Canadian dollars in 2020 and operates more than 1,100 locations throughout the country.
10. Independent Lumber Dealers Co-Operative (Canada)
ILDC, Independent Lumber Dealers Co-Operative, is a Canadian company that specializes in building materials and tools.
As you can see, it’s a direct competitor to Home Depot in this market.
Also, there are more than 600 locations in Canada, and sales routinely surpass $4.3 billion, making it one of the leading buying cooperatives.
11. Amazon
Amazon is a competitor to Home Depot since it sells just about anything you could want or need for your home improvement projects, including tools, equipment, and lawn care.
Furthermore, Amazon has a presence worldwide, including in both the United States and Canada, with more than $386 billion in revenue in 2020!
12. Best Buy
Best Buy is a direct competitor to Home Depot in the home appliances, electronics, and home improvement categories.
On top of that, as more young people purchase homes, they turn to the electronic market to make their home a Smart Home, which is where Best Buy can beat Home Depot.
With more than 1,110 stores worldwide, Best Buy made $47 billion in 2020, and the company continues to expand its e-commerce market.
13. Mohawk Industries
Mohawk Industries is a leader in the residential and business flooring market, which makes it a direct competitor to Home Depot in this regard.
At Mohawk Industries, you can find ceramic flooring, wood flooring, and several similar products, with everything being of very high quality.
Further, Mohawk Industries earned $9.55 billion in revenue in 2020, making it the world’s largest flooring company!
14. At Home
At Home is a direct competitor to Home Depot in the home goods and decor sector. That said, At Home has a variety of items, including furniture, rugs, seasonal decor, tables, and more!
Furthermore, each store contains more than 50,000 products, so it offers an incredible variety that’ll ensure you find just what you’re looking for.
Additionally, more than 225 At Home stores across the United States managed $1.73 billion in net sales for 2020.
15. Northern Tool & Equipment
Northern Tool & Equipment has more than 60 stores in 11 states, and it’s a great place to go for various home products, including hardware, tools, and equipment.
Additionally, you can find industrial equipment for your business at this store.
Therefore, it’s one of Home Depot’s competitors in the tools and equipment market, with more than $1 billion in sales.
To know more about Home Depot, you can also see our posts on Home Depot vs. Lowe’s, Home Depot statistics & facts, and the Home Depot target market.
Conclusion
The main Home Depot competitors include Lowe’s, Menard’s, Ace Hardware, Canadian Tire, Home Hardware, and True Value.
Additionally, stores like Amazon and Walmart compete with Home Depot since both carry a variety of items for the home at lower prices.
Further, Best Buy competes with Home Depot in the home improvement sector, especially when upgrading to a Smart Home and purchasing relevant electronics.
Also, Home Depot has competition from stores like At Home and Williams Sonoma when it comes to home furnishings and decor.