The Home Depot has been recognized this year for its “bold e-commerce strategy” by Fast Company magazine, which called the home improvement giant one of the most innovative retailers worldwide.
The retailer ranks among Fast Company‘s top 50 businesses for innovation. The magazine annually honors businesses through “The World’s Most Innovative Companies” ranking.
“Our reporting team sifts through thousands of enterprises each year, searching for those that tap both heartstrings and purse strings and use the engine of commerce to make a difference in the world,” the magazine reports. “Impact is among our key criteria.”
Home Depot ranked at No. 43 out of 50 companies for all sectors, but came in at No. 3 in the retail category. The big box only trailed e-commerce companies Amazon and Casper in retailing.
Fast Company honored Home Depot for “growing without building.”
“In 2016, the Home Depot delivered an estimated $90 billion in annual revenue—and it did it without opening a new U.S. big-box store in the past three years,” Fast Company says.
The company moved away from a growth model built on adding new store locations “by integrating digital and in-store shopping, paying particular attention to products that tend to be unfriendly for e-commerce,” the magazine reports.