The Gist: Although they have similar buying habits, Home Depot and Lowe’s shoppers come from decidedly different geographics and age groups.
Spring has sprung and so too has our home improvement lists. With yard work comes the beloved Saturday morning trips to favored home improvement destinations of choice. Anecdotally, we’ve found there are two types of people in the world: Home Depot fans and Lowe’s Home Improvement fans. Will our data tell the same story?
Lowe’s fans are more likely to be married than nonfans. Regarding location, Lowe’s fans are more likely to live in the US South. Unsurprisingly, fans of Lowe’s are homeowners and are more likely to live in the suburbs. Age-wise, Lowe’s fans are more likely to be 55+ years old.
Home Depot fans are also more likely to be married and parents. Like Lowe’s fans, they are more likely to live in the suburbs and be homeowners. 35-54-year-olds are more likely to be Home Depot fans. People in the US West are slightly more likely to be fans of Home Depot.
Lowe’s fans are more likely to favor locally-owned businesses when shopping. They are less likely to be price conscious when shopping for electronics. They’re also more likely to cook their dinner–in their recently renovated kitchen, perhaps? 36% of Lowe’s fans identify as “very loyal” to brands, meaning you might have a hard time persuading them to shop at Home Depot…
Overall, Home Depot fans are less likely to be price conscious when they shop, but especially when they’re in the market for health & beauty products or electronics.
Both Home Depot and Lowe’s fans are more likely to want a smart home automation product, as well as a wireless speaker system. Lowe’s fans are also more likely to own a virtual reality product or want to own a virtual reality product.
Interestingly enough, while both of these groups are interested in technology, they are overall less likely to engage with social media, specifically Snapchat and Instagram. Conversely, Lowe’s fans are more likely to use Pinterest.
Lowe’s fans are more likely to use a DVR. In respect to sports follow-ship, Lowe’s fans pay attention to college football and the NFL.
Home Depot fans have similar entertainment habits. They closely follow the NFL, college football, and the MLB. They’re also DVR users and fans of TV news.
Fans of Lowe’s closely monitor their retirement savings and are more likely to earn over $100k a year. Also, Lowe’s shoppers are self-identify as diligent savers.
Home Depot fans are more likely to donate to charitable causes overall. They are also diligent savers, however, they are more likely to earn over $50k per year. Regarding the economy, fans of Home Depot are more likely to have an optimistic outlook on the US stock markets.
So perhaps the great rivalry we envisioned was somewhat fabricated. For the most part, Lowe’s and Home Depot fans display similar behaviors regarding income, technology and entertainment habits. The main differentiators come from geographic location and age.