Home Depot and Lowe's: average amount spent by consumers 2011-2021

As of 2021, Lowe's and its related businesses operated nearly 2,000 stores around the world. In that year, the average amount spent by consumers amounted to nearly over 96 U.S. dollars, around 13 U.S. dollars more than the average spent in the Home Depot.

How does Lowe’s compare to its competitors?

As of 2021, Lowe’s was ranked third in customer satisfaction among the leading improvement store chains in the United States. In 2020, The Home Depot was the largest hardware and home improvement retail chain in the United States in terms of sales. Lowe’s took second place on this listing, putting it ahead of companies such as Ace Hardware and Menards.

Home improvement retail in the U.S.

In recent years, the U.S. home improvement industry has witnessed steady growth, and the trend is expected to continue in the near future. A significant increased occurred in 2020, mostly due to the outbreak of the coronavirus (COVID-19) pandemic and the lockdowns which ensued, leading people to stay home more often than before and take up hobbies and projects such as DIY home improvement. According to a Joint Center for Housing Studies forecast, homeowner improvements and repair expenditures were expected to reach roughly 370 billion U.S. dollars in the first quarter of 2022.