Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a account? Log In

Home Improvement Recap - 2021 So Far

Shira Petrack
November 8, 2021
Home Improvement Recap - 2021 So Far

Visits to The Home Depot, Lowe’s Home Improvement, and Tractor Supply soared in 2020. Now, with 2021 almost behind us, we dove into one of the pandemic’s biggest retail winners to uncover the long-term impact of the 2020 home improvement craze. 

Home Improvement Leaders Holding On to Visit Gains

The Home Depot, Lowe’s Home Improvement, and Tractor Supply are holding on to their 2020 visit gains, with August visits to Home Depot, Lowe’s, and Tractor Supply exceeding August 2019 visits by 11.3%, 13.2%, and 44.0%, respectively. Foot traffic even continued to exhibit year-over-two-year growth in September, despite the overall retail downturn that month. 

This past month, visits rose again, indicating that the sector is still performing far ahead of its 2019 baseline. October foot traffic to Home Depot, Lowe’s, and Tractor Supply increased by 12.8%, 16.7%, and 50.0%, respectively, compared to 2019. 

2020’s Impact on 2021 Performance 

Baseline change compares periodic visits (daily, weekly, or monthly) to the average visit levels over a certain period. In the graph below, the monthly change in visits for each brand is analyzed against that brand’s baseline (e.g., monthly visits to Home Depot in a given month are compared against the average monthly visit levels to home depot during the period between January 2019 and September 2021).   

Analyzing the baseline change in visits to the home improvement leaders over the past twenty-one months can help uncover some key insights. First, the sector exhibits a high degree of seasonality. The primary visit peak happens over the spring – traditionally home renovation season – with another, smaller spike in visits in late fall-early winter, as Americans weather proof their home for the cold, wet months ahead. Thus, the beginning of the pandemic and the height of the lockdowns and shelter-in-place orders coincided with the sector’s customary strong season, leading to a perfect storm of heightened home improvement demand. All three brands showed much higher visit peaks in spring 2020 than they had in spring 2019, and foot traffic never quite dropped down again to 2019 levels after that. 

Second, the monthly baseline change reveals when Tractor Supply’s visit growth pulled ahead of its competitors. Although Tractor Supply’s spring 2020 visit peak was much less pronounced that the spring visit peaks at Home Depot and Lowe’s, the early winter spike was much bigger at Tractor Supply – and the brand managed to hold on to its visit gains throughout the winter. So, when spring 2021 came along, the brand was well positioned to capitalize on normal seasonality to continue overtaking its competitors in terms of foot traffic growth. 

Interestingly, in 2019, early winter visits to Tractor Supply also increased more than they did to Home Depot or Lowe’s. This could have to do with Tractor Supply’s highly diverse offerings, which in addition to regular home improvement tools and materials also includes farm, ranch, and pet supplies. So consumers may visit Tractor Supply in early winter to get the materials they need to prepare their land and animals for winter – materials which may not be available at other home improvement retailers.

Diving Into Tractor Supply 

It could be argued Tractor Supply’s rise has been one of the most dramatic retail success stories of the pandemic, even in comparison to the other players in the impressively successful home improvement sector. The retailer has seen huge year-over-two-year visits increases every month this year. And while some of the growth in foot traffic could be attributed to new store openings, the number of average visits per venue has exceeded 2019 numbers by more than 40% almost every month this year.

Critically, the Tractor Supply bar graph below shows a consistent year-over-two-year increase in monthly visits evenly spread out throughout the year. The increase isn’t noticeably larger in the spring, and it does not appreciably drop in the summer and fall. This could indicate that Tractor Supply foot traffic increase does not come from a high number of seasonal customers. Rather, Tractor Supply has succeeded in consistently increasing the number of customers who visit its stores throughout the year, and has positioned itself several levels above where it was pre-pandemic.

Will Tractor Supply see another visit spike this winter? Will Home Depot and Lowe’s continue holding on to their 2020 visit gains? 

Visit to find out. 

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Free
Oops! Something went wrong while submitting the form.
4 Strategies Retailers are Using to Drive Traffic to Their Venues
5 Key Regional Grocery Players Impressing in 2023
Upscale Kitchenware Trending Up
Costco Finds More Room for Growth
Four C-Store Chains Making an A-Grade
National Parks + Outdoor Summer Activities
Diving Into Darden: Summer 2023 Update
The Summer Event Effect
Messi: Massive in Miami
Looking Back on Back to School 2023
The Anchor Recap: August 2023 Office Index: August 2023 Recap Mall Index: August 2023 Recap White Paper Recap: August 2023
Starbucks Pumpkin Spice Latte Strikes Again
Big Scoop: We All Scream For Ice Cream
Sports Away: Lululemon & Nike’s Momentum Continues
Summer Visits Heat Up For Recreation and Outdoor Gear Chains
No CSS overwrite - July 2023 Office Index Recap
Staging - August 2023 Mall Indec
Mid-Atlantic Grocery Deep Dive
Experiential Chains Heating Up This Summer
Petco Goes Big by Going Small
Ulta Beauty: Leading the Discretionary Pack
Discount and Dollar Chains Continue to Thrive
Summer of Sports: DICK’s Sporting Goods and Hibbett Sports
Off-Price: Succeeding Into Summer
The Anchor Recap: July 2023
Superstores Maintaining Pandemic Gains Amidst Economic Headwinds
2023: Home Improvement at the Halfway Point
July 2023 Office Index Recap Mall Index: July 2023 Recap
widget test
The Taylor Swift Visit Lift
Southwestern Grocery Dive
July 2023 White Paper Recap: Halfway Point Review & Quarterly Index
Yum! Brands: Driving Dining Visits
Slurpees and Summer Movies Stimulate Consumer Foot Traffic
Cool Beans: Summer Coffee Update
Checking In on Back to School 2023
Crocs and New Balance Tip The Scales
Burger Bliss: Shake Shack and In-N-Out Stacking Visits
Chipotle & McDonald's Continue to Reign Supreme
Vibenomics and Partner to Enhance Retail Media In-Store Measurement
California Grocers Here We Come!
Marriott’s Different Audiences
Bonchon and Kura Sushi Thrive in the Fast-Casual Scene
A Shoe In: Footwear Climbs to the Top
Cheers! Raising a Glass to Beverage Retail Office Index: June 2023 Recap Mall Index June 2023 Recap – A Turn of the Tide and a Dive into Open-Air Lifestyle Centers
Local Kitchens: Redefining the Restaurant
Unlocking Urban Insights: The Value in Manhattan’s Employees
Ohio State Parks On The Rise
How is Inflation Impacting the High-Income Shoppers?
Five Fast-Growing Dining Chains
What To Expect From Prime Day and July Sales Events in 2023
The State Of Fashion: How Are Apparel Retailers Faring in 2023?
2023’s Latest Dining Success Story: GEN Korean BBQ House
The NBA Finals: A Location Intelligence Perspective
Moving the Market: The Impact of Domestic Migration on Housing Costs
Post-Pandemic Museum Update
The Darden-est Things
The Enduring Demand for Urban and Suburban Retail
Leveraging Data to Evaluate the Impact of Municipal Investments
Trader Joe's Success Amidst Food Inflation and Changing Consumer Behavior Office Index: May 2023 Recap
Fitness at its Fittest: Staying Strong in 2023
Movie Theaters, Off-Price, and Home Improvement: May 2023 Recap Mall Index - May 2023 Recap
What’s Working for Bath & Body Works?
Why Are Specialty Grocers Thriving in 2023?
The CAVA Craze: A Location Intelligence Perspective on the Mediterranean Marvel
How Will Primark’s US Expansion Impact Target?
All Eyes on Eyewear
Northwestern U.S. Grocery Dive
Return of the Lunch: Salad Chains Are Thriving
Retail Media Networks – Off the Beaten Track
Bet Your Bottom Dollar: Discount and Dollar Stores Drive Foot Traffic
Ulta & Lululemon: Discretionary Spending On The Up
The Score After Q1: Sporting Goods Chains
Who Uses NYC Airports: Biting Into The Big Apple’s Main Transport Hubs
Off Price: Strength in The Face of Retail Challenges
Visits Improve for Home Improvement
Walmart, Target & Wholesalers in Q1 2023 – The Return of Mission-Driven Shopping?
Department Store Roundup: Q1 2023 Office Index: April 2023 Recap Mall Index, April 2023 – A Rebound on the Horizon?
How Will Bed Bath & Beyond’s Bankruptcy Impact the Retail Space?
Buffet Restaurants: Filling Up on Foot Traffic
Thrift Stores: Vintage Visits Drive New Age in Apparel
The Windy City: A Hub of Post-Pandemic Opportunity
Diving into Dining Traffic - Q1 2023
Bring On The Joe
A Dollar (or more) For Your Thoughts: Five Below and pOpshelf
Dining Out With The Cheesecake Factory
Retail Foot Traffic Recap – March 2023
Digging Into 2023: McDonald’s and Chipotle Update Office Index: March 2023 Recap
How Did Key Retail Categories Perform in Q1 2023?