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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