Home depot foot traffic11/25/2023 ![]() This is the next step in our journey of evolving our digital commerce offerings since announcing the acquisition of PromoteIQ in August 2019. One of our key offerings for retailers is the Microsoft PromoteIQ commerce marketing platform. Today, we are announcing two new Microsoft solutions for retailers that do precisely that: Microsoft PromoteIQ and Microsoft Bing for Commerce. Our goal is to be a technology ally to the retail industry, to help retailers thrive - with more relevant and optimized e-commerce experiences, enhanced shopper-level personalization and expanded monetization opportunities. Central to these announcements will be our new vision for digital commerce and the toolkit that enables it. 2Īt the National Retail Federation (NRF) conference next week in New York, Microsoft will unveil our latest solutions to empower retailers all over the world to take advantage of this transformation. Revenue from digital commerce is growing five times faster than from in-store sources, 1 and global digital commerce sales now comprise 16.4 percent of total retail sales. Various forms of computing are rapidly becoming embedded in every aspect of retail, from corner stores to the world’s largest retailers. Of all industries, retail is undergoing one of the most significant digital transformations. Microsoft PromoteIQ Microsoft PromoteIQ.And while general trending suggests future strength in the entire home improvement category, it’s possible that Ace has found an even more enduring place in the hearts and minds of its customers. ![]() Given that most Ace Hardware’s are locally owned, many customers already had personal connections with their friends at Ace. ![]() The pandemic also emphasized the importance of supporting local businesses. So not only are most of their locations closer to home, at one-tenth the size of their behemoth brethren, they are infinitely easier to shop as well. And as I suggested in a past article entitled “Improving Home Improvement”, with over 5,000 stores across the U.S., Ace Hardware has more front doors than both Home Depot and Lowe’s combined. Ace scored 863 points (up from 844 in 2020), Lowe’s scored 824 points and Home Depot scored 819. Power’s 2021 Customer Satisfaction Ratings, in the Home Improvement category, Ace Hardware ranked highest for the 14 th time in 15 years. Let’s not forget Ace Hardware, #5 in the top 20 of most trusted brands. Power says that they continue to beat both in. While Lowe's and Home Depot upped Ace in trust, J.D. Given the Millennial’s propensity to spend with companies that have sustainability as a core value, these retailers (along with all others) will remain under the microscope as to what they sell, how they sell it, and how they turn profits into meaningful community and societal contributions. A recent millennial survey found that 72% of the participants said they are likely to purchase a home in the next two years. And while the home improvement category remains highly fragmented, according to the Bank of America Home Depot BAC and Lowe’s combine to represent 30% of the industry pie with HD at 17% and Lowe’s taking 12% market share.īank of America estimated home improvement sales reached $767 billion in 2020, and trending tailwinds remain. What cannot be overstated is the degree to which fierce competition between HD and Lowe’s has forced both to constantly up their games. Those efforts positioned them for buy-online-pickup-instore (BOPIS) as well as endless aisle, enabling their consumers to access a broad selection of products not featured in-store. It is worth noting that these trusted home improvement retailers made significant omnichannel investments prior to the pandemic. ![]() past 67-week period showed positive year-over-year traffic against 2019 stats, and beat other categories. According to Placer.ai, foot traffic for nationwide home improvement stores throughout 66 of the. ![]()
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