Home Depot and Lowe's: sales per square foot 2023

In 2023, the Home Depot averaged about 605 U.S. dollars worth of sales per square foot. In contrast, Lowe's sales per selling square foot averaged 443 U.S. dollars in that same year. That represented a slight decrease year-on-year for both companies.

The home improvement retail industry in the U.S.

The U.S. home improvement industry is comprised of retailers that sell appliances, kitchen fittings, lumber, building materials, plumbing, and other home improvement products. Demand for these products is associated with the demand for housing. Therefore, any changes in sales of new and existing homes significantly impacts the industry’s performance. In 2023, total sales of home improvement retailers in the United States generated nearly 545 billion U.S. dollars.

Main players in the home improvement retail industry

The Home Depot and Lowe's are the two main home improvement retailers in the United States, in terms of annual revenues generated. When it comes to customer satisfaction with home improvement store chains, however, Ace Hardware leads the ranking. Both record considerably smaller sales than the industry leaders, which does not seem to negatively affect their customers' satisfaction levels.