They stock all things home improvement, including kitchen and bath fixtures, lighting, paint, gardening supplies, and tools. Both stores offer same-day delivery, installation services, do-it-yourself workshops, and store credit cards. They even have similar return policies and will accept most things with or without a receipt for cash or store credit.
Lowe's stores also typically have a few more square feet of space than Home Depot stores. But when Business Insider visited New York outposts of both stores, we found that the Home Depot was significantly larger than the Lowe's by an entire floor.
The target market is a notable difference between the two stores. Home Depot tends to appeal more to professionals like contractors, interior designers, and plumbers while Lowe's welcomes a more do-it-yourself crowd. Managing director of equity research at Wedbush Securities Seth Basham told Business Insider's Aine Cain that professional contracts accounted for 20% to 25% of sales at Lowe's and 45% at Home Depot.
In addition, Home Depot appears to be the store of choice formillennials.In a Bank of America survey of 1,000 millennials, reported by US News, 64% said Home Depot was their top choice for home-improvement shopping, while 53% preferred Lowe's.
When visiting the stores, we noticed that Home Depot felt like a massive warehouse, whereas Lowe's was more like a traditional retailer, with floor displays and bright, clear labels.
Here are some of the biggest differences we spotted at a Home Depot and a Lowe's in New York City.
My first stop was a Home Depot store in the Flatiron District.
Business Insider/Jessica Tyler
The store felt like a warehouse, with high ceilings, industrial lighting, and a lot of open space. On the left were small household items like dish soap and cleaning supplies. To the right was the start of the flooring department.
Business Insider/Jessica Tyler
Home Depots selection was astounding. It had all types of flooring in a huge variety of styles and patterns, and there were a few employees in each department to help.
Business Insider/Jessica Tyler
The main floor had seemingly endless aisles of appliances and fixtures ...
Business Insider/Jessica Tyler
... lighting displays ...
Business Insider/Jessica Tyler
... and even a small clearance section.
Business Insider/Jessica Tyler
The second floor had model kitchens and bathrooms.
Business Insider/Jessica Tyler
There were also consultation centers on this floor for customers to get assistance in designing their homes.
Business Insider/Jessica Tyler
The basement level of the store had a gardening department, which sells plants, seeds, flowers, tools, soil, and fertilizer.
Business Insider/Jessica Tyler
The level also had a continuation of the cleaning-supply aisle on the main floor ...
Business Insider/Jessica Tyler
... craft supplies ...
Business Insider/Jessica Tyler
... and tons of paint and paint chips.
Business Insider/Jessica Tyler
Many things in the store were not labeled. There was a directory, and plenty of experts were around to help, but the store was clearly aimed more at home-improvement industry professionals. If you dont know the exact nail or bolt youre looking for, it could be challenging to find it on your own.
Business Insider/Jessica Tyler
That said, there were plenty of services for non-professionals, such as workshops where customers can learn how to do things like stain a patio.
Business Insider/Jessica Tyler
There were price-check scanners available throughout the store. For most items, Home Depots and Lowes prices were comparable.
Business Insider/Jessica Tyler
There were also signs detailing the special financing plans for shoppers using a store credit card.
Business Insider/Jessica Tyler
Home Depot has a price-match initiative. Signs around the store explained that if shoppers find a product for less elsewhere, Home Depot will beat that price by 10%.
Business Insider/Jessica Tyler
This store offers same-day delivery anywhere in Manhattan, starting at $21. Other Home Depot locations also do this, with prices varying based on the order size.
Business Insider/Jessica Tyler
The customer-service area was near the checkout and self-checkout aisles, which seemed to be moving pretty quickly. Home Depots return policy is generous, allowing a full refund for most items if you bring the receipt and store credit if you dont. Home Depot also offers online returns and in-store pickup for online orders.
Business Insider/Jessica Tyler
The store felt geared toward professionals, but it seemed to have everything you would need for a home-improvement project, and all the employees were extremely helpful. Design consultations, price matching, and a lenient return policy add to the appeal.
Business Insider/Jessica Tyler
Next, I went to Lowes, just around the corner from Home Depot.
Business Insider/Jessica Tyler
The garden department was the first thing I saw, and it was significantly smaller than the one at Home Depot.
Business Insider/Jessica Tyler
Something I noticed immediately was that Lowes seemed geared more toward people who arent necessarily professionals. There was much more assistance for DIY projects, and everything was very clearly labeled.
Business Insider/Jessica Tyler
In general, however, the store was underwhelming compared with Home Depot.
Business Insider/Jessica Tyler
There seemed to be less of everything at Lowes, in every department, from lighting ...
Business Insider/Jessica Tyler
... to tools ...
Business Insider/Jessica Tyler
... to paint.
Business Insider/Jessica Tyler
On the second level, there were model kitchens and bathrooms ...
Business Insider/Jessica Tyler
... lighting fixtures ...
Business Insider/Jessica Tyler
... and flooring. The store felt less industrial than Home Depot, and its products were certainly labeled better.
Business Insider/Jessica Tyler
Like at Home Depot, there was a design-consultation center.
Business Insider/Jessica Tyler
Lowes also had a store-card financing plan similar to Home Depots ...
Business Insider/Jessica Tyler
... and it matched the same-day-delivery price. The two stores return policies were the same, and Lowes also offered a 10% price-match guarantee.
Business Insider/Jessica Tyler
Lowes also offers workshops and in-store pickup for online orders. Though many of the benefits at the two stores were the same like same-day delivery and special financing offers Home Depot had a much better selection of products.
Business Insider/Jessica Tyler
SEE ALSO: We went to a Kmart store and saw why the company is in danger of shutting down
