Candles, clocks and throw pillows: 3 charts show how Home Depot and Lowe’s pivoted to ‘soft-DIY’ | CNN Business

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Candles, clocks and throw pillows: How Home Depot and Lowe’s pivoted to “soft DIY”

Experts say the expansion into this category — from vases and decorative pillows to artificial flowers and candles — shows a shift in how people are managing their homes, where they are freshening up the house instead of renovating or rebuilding. Even as the latest quarterly earnings reports indicate overall home improvement sales have slowed down, “decor” has been one of the fastest growing categories at both companies since 2017, according to a CNN analysis of SEC data.

In 2020, Home Depot sales grew by nearly 20%, while Lowe’s saw sales jump by roughly 24%. “During the pandemic, [people] were very focused on investing in their homes, and in their gardens as well,” said Saunders, the retail expert at Global Data. “And that was very beneficial to Home Depot and Lowe’s and some of the categories that they sell.” In 2020, sales of “hard-DIY” — lumber and garden products — grew the most or among the most of any other category at both companies.

 

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