Home Depot Banking on its Burgeoning Furniture Biz

An image from The Home Depot’s private-label Home Decorators Collection

By Alan Wolf, YSN

The fact that quarantined consumers are spending their vacation funds on furniture has hardly been lost on The Home Depot.

While the world’s largest home improvement chain has carried home accents since its inception 41 years ago, the company stepped up its commitment to home furnishings with the 2017 acquisition of direct seller The Company Store.

This year, as homebound shoppers are devoting more of their disposable income to household upgrades, Home Depot is similarly upping its investment in its online furniture and home accessories business.

Recently rebranded as HD Home, Home Depot’s home furnishings catalog now includes everything from sofas and TV stands to rockers and armoires. As president/COO Ted Decker told USA Today, “We’ve been involved to the tune of billions of dollars. Why wouldn’t we extend what we’re doing in … helping a customer complete their project?”

Jeanine Huebner, the retailer’s senior VP of interconnected merchandising, concurred. “Since COVID, people are engaged in their home; they’re undertaking work-at-home projects,” she told the newspaper. “Kids’ furniture and office furniture is just off the charts, and people are now investing because they want to make sure that they’re comfortable.”

Huebner said most of Home Depot’s new home furnishings categories will likely remain web-only, given finite space in stores and the “huge shift in the whole industry this year to online.”

Decker, who was promoted to president from chief merchant this fall, acknowledged that the push into furniture is also an opportunistic response to this year’s rash of retail bankruptcies, including Pier 1 Imports and Art Van Furniture, and hundreds of store closings by Macy’s, Sears, JCPenney and others.

“The traditional outlets that a customer would go to literally are closing their doors, and this type of product selection is increasingly moving online,” he said.