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Home Depot calls a new market segment home
10CrescentLane.com is being developed by Home Depot Direct and is the latest initiative by Home Depot to expand into new direct market segments. It features 10 categories and a catalog quick order feature to order by SKU, item or catalog number.
The Home Depot Inc. thinks there is still plenty of room for new web and catalog players in the upper end of the house wares and home furnishings market.
In late October, Home Depot, No. 49 in the Internet Retailer Top 400 Guide to Retail Web Sites, launched 10 Crescent Lane, a new catalog and e-commerce site that carries hundreds of products in merchandising categories ranging from decorative hardware and furniture to home accent and kitchen products.
10 Crescent Lane is being developed and operated by Home Depot Direct and is the latest initiative by Home Depot CEO Bob Nardelli to expand into new market segments. At 10CrescentLane.com visitors can shop in 10 categories, order a catalog and use a catalog quick order feature to order by SKU, item or catalog number.
The merchandise includes products and brands such as Yves Delorme`s French linens, Ruffoni copper cookware, Nachtmann crystal and Alfresco outdoor kitchen ware.
The new web site is a departure from HomeDepot.com, which carries more than 25,000 SKUs and draws almost 7 million unique visitors per month, according to comScore Networks Inc. “With the launch of 10 Crescent Lane, they are going after an entirely new demographic,” says Curtis Barry, president of consulting firm F. Curtis Barry & Co. Inc. “I think it’s a smart move.”
Home Depot isn’t saying much about its 10 Crescent Lane initiative, but it’s clear that Home Depot thinks it can create market share against other established web and catalog companies already in the space, including Williams-Sonoma Inc., Cornerstone Brands, Bed, Bath & Beyond Inc. and Linens ‘n Things Inc. “It is very easy for a retailer the size of Home Depot to leverage their financial position and infrastructure to launch an initiative such as 10 Crescent Lane,” Barry says. “The housewares and home furnishings niche is developing nicely considering that people are willing to spend a lot on their homes these days. There is room for new web players and Home Depot sees an opportunity.”