Joined: 06 Jul 1999
Location: Austin, TX
|Posted: Wed Jul 18, 2012 12:54 pm Post subject: Home Depot Is Expanding Its Major Appliance Business
|By Alan Wolf -- TWICE, July 16, 2012
ATLANTA – No. 3 majap chain The Home Depot is adding Whirlpool, Electrolux and Frigidaire to its brand roster and will expand its appliance departments in select stores in a major bid to grow market share. The new brands, and the expanded 2,400-squarefoot majap showrooms, will roll out to 120 locations nationwide by mid-fourth quarter. According to Bob Baird, Home Depot’s appliances and kitchens merchandising VP, the first department remodels will begin appearing this summer.
The Whirlpool, Electrolux and Frigidaire assortment will also be available online at HomeDepot.com and can be ordered at any U.S. store through the retailer’s Depot Direct delivery network. Products will include ovens, refrigerators, freezers, dishwashers and laundry pairs. Whirlpool joins sister brands Maytag and Amana at Home Depot, while Electrolux’s Frigidaire, step-up Frigidaire Gallery and premium Electrolux badges are new to the chain. The new additions are presently available at home improvement rival Lowe’s.
Home Depot’s expanded assortment, and Whirlpool’s and Electrolux’s broadened distribution, come as No. 1 majap chain Sears continues to face weak financials and an uncertain future.
According to TWICE’s latest Top 100 Major Appliance Retailers Report, Sears’ white-goods sales slipped 3 percent in 2010 to $7.3 billion, while sales declined nearly 2 percent at No. 2 majap chain Lowe’s, to $5.5 billion. In contrast, Home Depot enjoyed a 1 percent uptick last year, to $3.4 billion.
Best Buy and hhgregg occupy the fourth- and fifthplace berths on the Top 100, with respective white-goods sales of $1.8 billion and $795 million last year. In a statement, Home Depot’s merchandising executive VP Craig Menear said, “We are dedicated to offering the widest selection and assortment of top brands to our customers and this expansion helps us deliver on that commitment. We are always looking for ways to improve the shopping experience for customers.”
Added Jack Truong, head of Electrolux Major Appliances North America, “This is a new customer for us, and a fantastic opportunity to grow Electrolux while offering more consumers our innovative products. This new business accelerates our growth in North America and provides the opportunity to intensify our investments in innovation and benefit-driven design across the Frigidaire and Electrolux brands. All of our customers — including The Home Depot — will benefit from the investment to drive growth.”
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