Despite economic challenges, the home improvement industry has displayed strong resilience, driven by sustained consumer interest in renovation and DIY projects. However, consumer preferences continue to shift, as more shoppings choose to make purchases online and at smaller retailers. Take an exclusive look at the key consumer trends driving the performance of today’s home improvement market.

Home Depot has experienced declines in large appliances. In Q2 2023 it reported that big ticket transactions above $1,000 were down 5.5% year over year. But it’s not because Amazon is grabbing a bigger share - Amazon’s market share in larger appliances is generally low and in a downward trend. What’s causing the declines?

C5 is the five days spanning Thanksgiving to Cyber Monday - and is the largest selling period in the US. In 2023 Amazon outsold Walmart by 7x and Target by nearly 17x. Find out what categories are driving their record breaking selling season.

In early November, Amazon announced it’s Black Friday Event - the first time the online retail giant has joined in on steep Black Friday savings. However, what’s Amazon’s motivation for participating in Black Friday and how might this impact home improvement retailers like Home Depot and Lowe’s?

Amazon alone matched the sales of all top 30 home goods pure players combined during the last holiday season.

The electronics category generally only accounts for 10% of Target’s total sales, but jumped to 21.6% during the retailer’s latest Deals Day.

While home drove the largest share of sales in Amazon’s July Prime Day, electronics surpassed home in the retailer’s October iteration of its sales event, owning 19% of total sales during the event.

Home Depot dominates the home improvement category, with a third of market share in online and offline sales. Behind Home Depot are Amazon, Lowes, and Walmart with about 15% to 20% GMV share each. 

Amazon significantly outpaces peers like Walmart and Target in online home office GMV: the retailer’s online sales are more than double all their closest competitors combined. However, other big box and furniture pure players have grown their sales in the category over the course of the pandemic. From 2Q20 to 3Q22, Target, for example, surpassed Wayfair in online office furniture sales and grew to a GMV share of 14%.

Amazon grew its market share 4.70 ppts YoY in 2Q22. Despite last year's Prime Day occurring in June (2Q21) and this year's in July (3Q22), almost all home goods subcategories had positive year-over-year growth, highlighting Amazon’s continued strength in the home goods retail industry. However, performance varied by category.

Prime Day is without a doubt one of ecommerce’s biggest sale events of the year. Over the course of two days, Prime members have access to significant discounts on many items across categories such as kitchen, decor, bath and bedding. While the ecommerce giant didn’t reveal total sales, our insights from this year’s Prime Day dive deep into brand share and categories that have seen significant growth or decline since last year.