How Home Depot and Lowes are Capturing a $450 Billion B2B Market

Large home improvement retailers focus aggressively on #B2B building professionals

A “Tremendous Opportunity” ⚠️

Large home improvement retailers like The Home Depot and Lowe's Companies, Inc. are focusing aggressively on B2B building professionals and contractors. Home Depot’s most recent earnings report showcases the highest quarterly sales and earnings in the company’s history. Home Depot President and CEO, Ted Decker, announced the company had updated its TAM to $900 billion earlier this year, with 50% of that being from the Professional B2B market. Decker noted B2B channels as a “tremendous opportunity”.

Using Tech to Capture B2B

Part of the retailers’ strategy to capitalize on this opportunity is by tech-enabled offerings to better facilitate B2B transactions. Home Depot’s mobile app experienced record numbers this quarter. Both Home Depot and Lowe's are investing in digital tools to offer contractors efficient and tech enabled fulfillment, financing, and business management.