What Is The NAICS Code For The Industry
The NAICS code for the industry is 44411 which is described as Home Improvement stores in the US. The “stores in this industry sell a range of home repair and maintenance goods such as hardware, tools, electrical goods, lumber and structural material for construction and renovations (2015).” Since the main difference between home improvement stores and hardware store is the size and the range of products are much smaller which is why they are excluded from the industry.
The three major players in the industry are Home Depot Inc., Lowes Inc., and Menard Inc. These companies “companies purchase goods from manufacturers and wholesalers, and sell them to end users, such as do-it-yourself consumers and professional contractors (2015).” The industry
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owns about half of the market share in the industry. They are “the world's largest home improvement company and the fifth-largest retailer in the United States, according to the National Retail Federation and are headquartered in Marietta, GA and founded in 1978 (2015).” These store carry a vast range of products in the tens of thousands. The bulk of the sales done by the massive company are in the US with it being 90%.
Lowes Inc. is the next massive company in this industry with market share of 35.3%. They are “the nation's second-largest home improvement chain, and eighth-biggest retailer overall (2015).” Like their competition they too done the majority of their sales in the US which is around the same percentage of their sales as a company. The company differs from the competition because “retails a large share of private brands in addition to national brands (2015).”
Menard Inc. is are not near the market share as the previous two companies with a small percentage of 5.6. Menard is a much smaller company and could be seen with their small range of stores in all about 28% of the US states. The company recently has opened huge stores almost double of their competitor’s sores. And “these stores carry up to 60,000 distinct products (2015),” because the company is looking for a way to show the customers of their competition that they have more products you can look at before just ordering it
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