Prepared by YipitData, a 2024 Strategic Partner of HIRI. Learn more about HIRI’s Strategic Partners.
The four days from Black Friday to Cyber Monday are a critical period for retail. Across Home Depot, Lowe’s, and Amazon, our data shows double-digit year-over-year sales growth in 2020 and 2021, up +12% and 11% respectively.
From 2022 to 2024, sales across these three retailers have slowed with our data indicating single-digit YoY growth. During BFCM 2024, Amazon led from a growth perspective, driven by strong performance within Decor, Appliances, and Tools. Decor accounted for more than one third of Amazon's BFCM sales within the five key home improvement categories highlighted below.
Amazon’s success in Decor was primarily driven by shoppers purchasing Seasonal & Holiday Decorations, but the department also achieved significant gains in non-seasonal categories such as Rugs and Window Treatments.
*Home Decor includes core (Window Treatments & Accessories, Rugs, etc.) and seasonal decor (Seasonal & Holiday Decor)
*Appliances includes major (Refrigerators, dishwashers, washer/dryers, etc.), minor (Range hoods, vacuums, etc.), and household appliances (Water heaters, etc.)
To better understand potential pricing influences during BFCM, we analyzed average item discount trends. Our data shows that Amazon applied the greatest markdowns, followed by Lowe’s 6 percentage points below Amazon’s average across three key categories.
*Discount %: (Full Price Estimate - Transacted price) / (Full Price Estimate). The higher the number, the greater the discount.
*Full Price Estimate: YipitData's best estimate of the original MSRP based on the transacted price of the item. We take the 90th percentile price from all
previous transactions and the 90th percentile price from the last 100 observations. We select the higher of these two values as the FPE.
Tools emerged as Amazon’s third highest-growing home improvement category during BFCM 2024. To better understand the drivers behind this success, we analyzed shopper leakage data, focusing on the top Tools brands that converted shoppers.
Based on this view, we can see that former Home Depot and Lowe’s Tools customers were driven to Amazon for the Dewalt brand. The top item these customers switched to Amazon to purchase was the 20V MAX Cordless Drill and Impact Driver, Power Tool Combo Kit with 2 Batteries and Charger (DCK240C2).
The pro customer plays a key role in the home improvement industry and its growth. To dive into their shopping behaviors during BFCM, we examined top tools brands they favored during the promotional time frame as well as brand share changes versus YTD 2024 within our pro panel.
Milwaukee saw significant improvement in its share among pro customers during BFCM, driven by demand for high-performance tools. Pros gravitated towards kits that included 8.0 or 12.0 Ah batteries, showcasing a preference for power and efficiency.
*A "PRO" panelist is defined as an individual that utilizes the Pro Desk to make a special bulk order at Home Depot OR has spent at least $6,000 in consecutive years on Home Improvement materials.
Overall, our BFCM data highlights key trends: customers prioritizing the best deals, making last-minute purchases for holiday readiness, and shopping brands they know and trust. These insights emphasize the critical importance of competitive pricing, targeted promotions, and brand loyalty in driving success during this essential retail period.
Today’s content focused solely on Black Friday through Cyber Monday. For further insight into how promotions are impacting the home improvement space, register for our upcoming webinar with HIRI on Thursday, January 23rd.
Interested in learning more about home improvement growth opportunities?
Read YipitData’s blog on understanding Home Improvement Shopper Behavior or connect with a YipitData analyst today!
About YipitData
With over 205MM home improvement data points annually, YipitData has coverage across 8k distinct brands and key retailers, including Home Depot and Lowe's, giving you the visibility you need to make better business decisions. Our proprietary approach combines data (physical/email receipt, cc, web-scraped, etc) with predictive modeling to give you the most accurate and granular read on your market performance with only 7-10 days of lag.
