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The Humble Beginnings of Home Depot [Video]

The Humble Beginnings of Home Depot

Home Depot is known to be one of the largest retail chains in the world. Today, the brand carries over 36,000 products in its stores and offers 2 million more products online. Home Depot has opened more than 1500 stores pan America with over $50 billion in sales. In 2019, their sales were $110.2 billion.

This is the story of two young men Bernard Marcus and Arthur Blank who after getting fired from their jobs at a regional hardware store, founded the largest home improvement retailer in the United States, eventually becoming billionaires. They mapped out Home Depot on a napkin in their favourite coffee shop, a plan that would revolutionize the home improvement industry in America.

These two incredibly talented young men created a world for themselves that brought them wealth and gave them a humble family. Being billionaires they still did everything they could to serve their community and have always kept their customers and employees on an equal plane.

Today, Home Depot follows a competition-busting strategy that plays a huge role in the company’s sales. It has a Low Price Guarantee strategy, an ongoing offer to beat any advertised price from a competitor on any product in the store. If the product is purchased online, the company will match the price of a competitor, including shipping. If an item is purchased in-store, the retailer will match the price of an identical, in-stock product, provided a customer presents an ad or photo of the competitor’s price.

This brand has donated more than $200 million to non-profit organizations, and its very own Framing Hope Program has donated more than $100 million worth of products to charitable causes.

Here’s a story worth telling, one that will probably light up the hustler in you. So watch this video till the end to learn more!

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