The SEC data analyzed by CNN shows that home decor sales have doubled at both Home Depot and Lowe’s in that time period.
By 2022, decor products accounted for 5.4% of Lowe’s sales – more than the tools, building materials, flooring or hardware categories.
In 2019, year-over-year net sales at Home Depot and Lowe’s grew by roughly 2% and 1%, respectively.
In 2020, Home Depot sales grew by nearly 20%, while Lowe’s saw sales jump by roughly 24%.
While still primarily home improvement retailers, expanding into home decor was simply a logical opportunity for Home Depot and Lowe’s, Saunders said — especially online.
Persons:
Neil Saunders, ”, it’s, ” Lowe’s, Lowe’s, Saunders, Barbara Kahn, they’re, ” Khan, “ They’re, Ted Decker, won’t, ” Saunders
Organizations:
CNN, SEC, Global, Home, Depot, Home Depot, ”, University of Pennsylvania’s Wharton School, Advance, US Census Bureau
Locations:
Lowe’s