{"id":47775,"date":"2023-08-12T23:14:10","date_gmt":"2023-08-13T03:14:10","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/these-home-improvement-retailers-are-seeing-better-foot-traffic-research-says\/"},"modified":"2023-08-12T23:14:12","modified_gmt":"2023-08-13T03:14:12","slug":"these-home-improvement-retailers-are-seeing-better-foot-traffic-research-says","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=47775","title":{"rendered":"These home-improvement retailers are seeing better foot traffic, research says"},"content":{"rendered":"
\n

As 2023 progresses, visits to home-improvement retailers Home Depot Inc. and Lowe\u2019s Cos. are increasing, according to foot-traffic data from analytics company Placer.ai. \u00a0<\/p>\n

In January, visits to Home Depot
\n HD,
\n +0.52%<\/bg-quote>
\n were down 7% and visits to Lowe\u2019s
\n LOW,
\n +1.28%<\/bg-quote>
\n were down 7.3% compared with the same month in 2022. In March, visits to Home Depot were down 9.8% year over year and visits to Lowe\u2019s were down 11.1%. Since then, however, visit gaps for the two companies have tightened every month, narrowing to just a 4.2% year-over-year decline for both Home Depot and Lowe\u2019s in July.<\/p>\n

\n

Now read:<\/strong> Want companies to lower prices? Stop buying their stuff.<\/p>\n

\u201cDespite a cool housing\u00a0market\u00a0overall,\u00a0new single-family home\u00a0sales likely played a part in the continuing resilience of Home Depot and Lowe\u2019s in [the first half of] 2023,\u201d Ezra Carmel of Placer.ai wrote in a blog post. \u201cNew homes require plenty of finishing touches inside and out \u2014 from fixtures and paint to landscaping and patio furniture \u2014 and warmer weather appears to be encouraging consumers to take on these projects.\u201d<\/p>\n

He added: \u201cAs new home construction shows\u00a0signs\u00a0of heating up, home improvement retailers can benefit from\u00a0builder\u00a0foot traffic during the project and homeowner visits after completion.\u201d <\/p>\n

Retailers: <\/strong>These retailers are enjoying foot-traffic wins, research says<\/p>\n

In June, home prices hit their highest level in a year, boosted by a lack of homes for sale and strong home demand among buyers, according to the National Association of Realtors.\u00a0<\/p>\n

Home Depot has also been driving more traffic from wealthier and larger households, according to Placer.ai. Citing Trade Area Analysis, a process used to map out business activity and consumer behavior in a specific location, Placer.ai said that, during the first half of 2023, consumers in Home Depot\u2019s captured market had a median household income of $74,400 \u2014 higher than the median household income of Lowe\u2019s captured market, which was $69,100. \u201cHome Depot\u2019s trade area also had more persons per household (2.67) than Lowe\u2019s (2.58),\u201d Carmel wrote. \u201cThis suggests that Home Depot\u2019s visitors may reside in larger family homes\u2014 with the potential to need more improvements and upkeep \u2014 and have the budgets to take on more projects.\u201d<\/p>\n

Now read:<\/strong> Target recalls 2.2 million candles, while Sensio recalls 860,000 Bella pressure cookers<\/p>\n

Home Depot reports its second-quarter results on Aug. 15. Lowe\u2019s reports second-quarter results on Aug. 22.<\/p>\n

Shares of Home Depot are up 4.8% in 2023 and Lowe\u2019s stock is up 12.8%, compared with the S&P 500\u2019s
\n SPX
\n gain of 16.3% over the same period.<\/p>\n

Aarthi Swaminathan contributed.<\/em><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As 2023 progresses, visits to home-improvement retailers Home Depot Inc. and Lowe\u2019s Cos. are increasing, according to foot-traffic data from analytics company Placer.ai. \u00a0 In January, visits to Home Depot HD, +0.52% were down 7% and visits to Lowe\u2019s LOW, +1.28% were down 7.3% compared with the same month in 2022. In March, visits to […]<\/p>\n","protected":false},"author":1,"featured_media":47776,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-47775","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nThese home-improvement retailers are seeing better foot traffic, research says | iFintechWorld<\/title>\n<meta name=\"description\" content=\"As 2023 progresses, visits to home-improvement retailers Home Depot Inc. and Lowe\u2019s Cos. are increasing, according to foot-traffic data from analytics\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=47775\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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