7/29/09

The Home Depot targets cost-conscious consumers with a savings center

The down economy is leading more homeowners to do more do-it-yourself home upgrades. Since launching a savings center in March, The Home Depot says discounts and low prices have led to nearly $410 million in savings for shoppers so far.

Mark Brohan , Research Director

The down economy is leading more homeowners to swap their dreams of purchasing larger pads for more budget-friendly do-it-yourself home upgrades. Seeking to capitalize on the trend, home and garden multichannel retailer The Home Depot Inc. in March launched a savings center. The deals have been a hit with shoppers thus far, the retailer says.

The center, promoted at the top of the retailer’s home page, puts in one area all current deals, sales and promotions. Shoppers can browse for deals not only by product category, such as lighting or kitchen, but also by other filters such as such as credit and financing deals and home service and installation offers.

Consumers can also search for rebates by selecting a brand and a product category, sign up for e-mail offers, visit a clearance center, view weekly deals and also see items that offer free shipping.

The Home Depot, No. 43 in the Internet Retailer Top 500 Guide says it’s so far lowered prices on over 1,000 products online and in stores. The price drops have led to nearly $410 million in savings for shoppers so far and $8.6 million just this week, the retailer says.

The renewed focus on cost-conscious shoppers may be paying off for the retailer. In, June traffic to The Home Depot jumped 34% year over year, according to Nielsen Online. By comparison, the retailer’s traffic was flat in May, in April it grew by 1% and in March it fell 5%. The Home Depot posted 2008 web sales of $436.73 million, up 1% from $432.41 million a year earlier, according to Internet Retailer estimates.

Topics:

business, business finance, Commerce, Online shopping

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