Lowe’S vs. Home Depot

Lowe’s vs. Home Depot
Home improvement warehouse is a generally huge store where you can find tools, materials which you need for your home. Most people in the United States are updating their homes, because they want to see vividness at their house. Therefore, they regularly create new home projects. Consumers still keep shopping and renew their home slightly, even though the last financial meltdown and uncertain economic times. Competition in the globalized world has been intensified than ever. “Competition is the process by which market forces operate freely to assure that society's scarce resources are employed as efficiently as possible to maximize total economic welfare” (Kolasky). While companies compete in their industry, the most critical priorities take over the profitable customers and retain them in the new economical conditions. Profitable customer retention will not be easy, because there is a fierce competition to competitors for grab profitable costumers in each sector. Similar to those of today, Lowe’s and Home Depot have been competing in home improvement warehouse industry. The war in an intense competition between Lowe’s and Home Depot, forcing to find new competitive areas and tools two companies as it is.
Lowe’s and Home Depot are very strong companies. “Lowe’s is a $47.2 billion retailer, offering a complete line of home improvement products and services. The Company has 1710 stores in the United States and Canada. It was founded in 1946 and based in Mooresville, North Caroline. Lowe’s is the second-largest home improvement retailer in the world and employs more than 238,000 people. The Company’s stock is listed on the New York Stock Exchange with shares trading under the symbol LOW” (Lowe’s Annual Report). “Home Depot is the world’s largest home improvement retailer. Home Depot stores average approximately 105,000 square feet of enclosed space, with approximately 24,000 additional square feet of outside garden area. It has 2244 stores...