While many of us might assume that Lowes has a monopoly in the home improvement business, the fact is that Home Depot is having trouble catching up to the giant. The retailer has a new strategy that caters to professional contractors, and it is bringing in more customers than ever. Lowe’s recent success has been thanks to this new strategy. Lowe’s new strategy of catering to the so-called pros has helped it beat the Home Depot on sales growth moviesverse.
While Home Depot and Lowe’s have a lot in common, one important difference between them is their customer service. Lowe’s has a helpful, professional staff. The company’s customer service could use a big boost, as Home Depot’s employees are notoriously rude. Lowe’s is a better place for those who want their money. If you need help with a project, you’ll find that staff members are more than willing to assist you.
Both companies have seen their earnings fall in the last quarter, but they have a different reason. Neither is growing as fast as expected. While Home Depot’s sales growth jumped to 3.2% during the second quarter of fiscal year 2018, Lowe’s only saw modest growth. Home Depot’s sales forecast suggests a slowdown in the home improvement business, whereas Lowe’s is on pace for a more profitable year. Both companies are now enjoying relief in their supply chain and overhead costs.