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.
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?
Northeastern USA Grocery Dive
Movie Theaters Storylines for 2023
Ollie's Bargain Outlet: Discounters are Evolving
Leveraging Brick-and-Mortar Retail in 2023
America’s Evolving Work Patterns: A Deep-Dive into New York and Chicago Mall Index March 2023
Tuning Into Record Stores
Five Franchises To Watch in 2023
What’s Next For Domestic Tourism?
It’s Showtime! Movie Theaters in the Spotlight
5 Limited Time Offers (LTOs) Driving Restaurant Traffic
Department Store Deep-Dive: Belk
Regional Grocery Chains Staying Ahead of the Competition
Five Chains that Rightsized for Success
Unlocking the Potential of Offline Retail Media Networks
Dining Out With Darden
What’s in Store for Self-Storage?
Nike & lululemon Update: Strong Performance Amid Expansion Plans
Many Ways to Win: Midwest Grocery Deep Dive
Retail, Reinvented: The Rise of the Pop-Up Shop
Navigating a New Normal in Business Travel & Commutes Office Index: February 2023 Recap
Retail Categories Staying Strong in Volatile Environment
Ulta Beauty: Poised for Success into 2023 Mall Index February 2023: Reasons for Continued Optimism
Catching Up With DICK’s & Hibbett
The Miami-Dade Arena: An Advertising Slam Dunk
Car Washes Revving Up Visits
Tuesday Morning and Sunrises in Home Furnishing
Dining & Valentine’s Day Recap
2023: The Year of the Discount Store
Aldi’s Success Highlights Growing Demand for Value Groceries
5 Retail & Service Categories Holding onto Pandemic Gains in 2023
Visitor Insights from Super Bowl 2023
2023 First Look: Home Improvement Update
How Are Target, Walmart, and Wholesale Clubs Faring in 2023?
Department Store Deep-Dive: Nordstrom
Off-Price: Taking Off in Uncertain Times
Checking in On Middle-Class Hubs
Who Attends the Super Bowl? Office Index: January 2023 Recap
Focusing On Fitness: Q4 and January Recap Mall Index: January 2023 – Returning Mall Normalcy?
Location Intelligence Insights Into Concert Attendance
Winning Dining Strategies for 2023
In-N-Out Burger: What to Expect as the Brand Moves East
Location Intelligence Breakdown: Coffee Caps-Off 2022
Digitally Native Brands Lean Into Brick & Mortar
Washington, D.C. Population Changes & Migration Trends
A Location Intelligence Perspective on Macy’s Rightsizing
Amazon-Powered Shopping: The Future of Brick-and-Mortar Grocery?
Cold Weather, Hot Visits: Diving into Winter Resorts
Wawa and 7-Eleven: Leaning Into the “Slurpee Effect”
2022 and Beyond: Catching Up With McDonald’s & Chipotle
Let’s Have Some Fun! Going Out Is In’s Q4 2022 Quarterly Index Adds Industry Executives to Leadership Team To Drive Company's Next Phase of Growth
5 Emerging Retail Formats: 2023’s Brick-and-Mortar Evolution
Grocery Update: Zooming in on the Lone Star State
2022 Office Recap: The Year of the TGIF Work Week
What Lies Ahead for Brick-and-Mortar Luxury in 2023 Mall Indexes: December 2022 Recap
Looking Back on 2022’s Holiday Shopping Season
Post-Pandemic Migration Trends in New York
Top Retailers for 2023
The Live Sports Advertising Opportunity
Domestic Migration to the Mountain States: Small Shifts with Big Implications
New Year, New Food: 5 Dining Trends For 2023
This is Why Shop-in-Shops Are Everywhere
Super Saturday 2022 Recap
The San Francisco Shift