The 5 things Home Depot needs to do as it marks 40 years in business:
Share to twitterThe Big Orange needs different stores selling different products in different places to continue its success story. For once, somebody saying something like that turned out to be right.
Its founders haven’t too done shabbily in the process either. Marcus, 90, recently said he planned to give away 90% of his $4.5 billion net worth to charity, adding that at least some of the rest of it was going for Donald Trump’s reelection campaign, creating a mini-maelstrom of potential boycotters.
None of the three are involved in managing their creation anymore so the challenges of continuing Home Depot’s position atop the DIY pyramid falls on current CEO Craig Menear and his successors. They will have five key areas to focus on to continue the company’s legacy:Given the nature of its product mix, Home Depot was a relative latecomer to e-commerce, doing barely $500 million in online sales—less than 1% of its overall business—as recently as 2010.
But just as Walmart and Target are finding smaller, often urban footprints for their brands, so too should Home Depot be looking at similar initiatives.
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