Continuous research and The Home Depot’s annual revenue have shown the company is king of the big boxes. DIYers along with pros frequent its stores, leading Home Depot to increased sales growth. But why exactly do consumers choose Home Depot so often?
Below is data from Hardware Retailing‘s 2012 Big Box Research, which analyzed the the big box preferences and shopping behaviors of more than 1,000 consumers. This data set shows the main reasons why consumers shop at Home Depot, highlighting the characteristics customers liked about Home Depot.
Applied to retail: The above data shows that convenience, price and product assortment are key attributes consumers look for in retailers. To become more convenient to consumers, develop a website that offers shoppers online purchasing capabilities or use your wholesaler’s online catalog. Offer products and brands that consumers cannot find at big boxes and be sure your shelves are never empty. Having products in stock is key to keeping loyal customers, as consumers will visit another store if you are out of stock of the product they need.