Dive Brief:
- The Home Depot introduced its Project Planning tool, a digital platform for its pro customers, in late September, according to a company press release sent to Retail Dive.
- The tool is designed to serve as a hub where professional renovators, remodelers and tradespeople can plan, oversee and complete complex projects. Professionals using the tool can oversee various projects with multiple crews and can contact the Home Depot support team in real time, per the press release.
- With the tool, users can create a materials list, order products, track orders, give delivery instructions and price materials for estimates. The tool allows users to view all products available at the company's stores and fulfillment centers.
Dive Insight:
The rollout of Home Depot’s Project Planning tool signals the retailer’s continued investment in its professional customer.
The platform also allows users to reorder items, view project-related transactions, choose delivery preferences and track invoicing, among other tasks.
“Our Project Planning tool makes it easier than ever for our Pro customers to plan, purchase and monitor the status of their complex projects — all backed by the full power of The Home Depot’s product assortment and expertise,” Mike Rowe, executive vice president of Pro for The Home Depot, said in a statement. “The average Pro works with 10 or more suppliers on a single job. We’re in a unique position to simplify this process and will continue to expand our digital tools to meet the evolving needs of Pros.”
Home Depot has made other moves to appeal to professional contractors. The company this year said it would maintain its focus on improving the pro experience to drive sales growth. In a February earnings call, the company touted its pro-focused initiatives, such as hiring pro customer managers and updating its employee app with tools to assist that customer base.
The retailer also made two notable acquisitions with an eye on attracting pro customers. In March 2024, the retailer announced plans to acquire building materials supplier SRS Distribution for roughly $18.25 billion. In June, Home Depot used its new subsidiary, SRS Distribution, to purchase the specialty building products distributor GMS Inc. in a deal valued at about $5.5 billion.
In its latest earnings report, Home Depot reported a nearly 5% bump in net sales from a year prior to $45.3 billion. Its comparable sales rose 1%, with U.S. comparable sales increasing 1.4% year over year.
Like Home Depot, Lowe’s has also increased its focus on professional customers in recent years. In 2023, Lowe’s debuted its suite of MVP Business Tools, which allow customers to price supplies, track their orders and reorder frequently purchased products. Earlier this year, the company updated its MyLowe’s Pro Rewards program to make it easier for small- and mid-sized contractors to earn and redeem rewards.
