The Home Depot Business Model Canvas
Fully Editable
Tailor To Your Needs In Excel Or Sheets
Professional Design
Trusted, Industry-Standard Templates
Pre-Built
For Quick And Efficient Use
No Expertise Is Needed
Easy To Follow
The Home Depot Bundle
What is included in the product
Detailed Word Document
The Home Depot's BMC is a real-world reflection of operations. It includes detailed insights, ideal for presentations and funding.
Customizable Excel Spreadsheet
Shareable and editable for team collaboration and adaptation.
Full Version Awaits
Business Model Canvas
The document you're previewing is the genuine Business Model Canvas for The Home Depot. It’s a full, detailed preview of the actual file. Upon purchase, you'll receive this same comprehensive document, ready for analysis.
Business Model Canvas Template
Home Depot's Business Model: A Deep Dive
The Home Depot's Business Model Canvas reveals its strategy for dominating the home improvement market. Key components include a focus on a wide product selection, strong customer service, and efficient supply chain management. Their value proposition centers on offering both DIY enthusiasts and professionals high-quality products and expert advice. Understanding these elements is crucial for anyone aiming to analyze or compete in the retail space.
Dive deeper into The Home Depot’s real-world strategy with the complete Business Model Canvas. From value propositions to cost structure, this downloadable file offers a clear, professionally written snapshot of what makes this company thrive—and where its opportunities lie.
Partnerships
Suppliers and Manufacturers
Home Depot's success hinges on key partnerships with suppliers and manufacturers. These collaborations guarantee a steady supply of quality products, essential for offering a diverse inventory. In 2024, Home Depot's supplier relationships supported its $152.7 billion in sales. Collaboration ensures a mix of branded and private-label items meet customer needs. The company's focus remains on these partnerships to optimize its supply chain.
Logistics Providers
The Home Depot relies heavily on logistics partnerships for its supply chain. Collaborations with companies like XPO Logistics are crucial for timely deliveries to stores and customers. These alliances help manage the complex supply chain, reducing transportation expenses. In 2024, The Home Depot's supply chain investments totaled billions, showcasing the importance of efficient logistics.
Service Providers
Home Depot partners with contractors and service professionals to provide installation and repair services. This collaboration boosts the value proposition for customers seeking comprehensive home improvement solutions. In 2024, Home Depot's service revenue grew, indicating the success of these partnerships. Connecting customers with reliable professionals enhances customer satisfaction and fosters loyalty. Home Depot's commitment to these partnerships is evident in its strategic investments and service offerings.
Technology Partners
Home Depot's tech partnerships are key. They work with IT companies to boost digital platforms and in-store tech, improving customer experience. These collaborations help with inventory, sales, and data analysis. IT systems are crucial for staying competitive. In 2024, Home Depot invested heavily in technology, with tech spending reaching $2.6 billion.
- Digital sales increased by 2.8% in Q3 2024.
- The company's IT budget for 2024 was approximately $2.6 billion.
- Home Depot's Net Revenue for Q3 2024 was $38.9 billion.
- Partnerships support inventory management and customer data analysis.
Delivery Services
Home Depot collaborates with delivery services such as DoorDash and Uber Eats to offer same-day delivery, enhancing customer convenience and expanding its market reach. This partnership caters to customers who prefer home shopping or need immediate supplies. Flexible delivery options increase customer satisfaction and accommodate varied shopping preferences. These services have significantly increased Home Depot's online sales. In 2024, Home Depot's online sales accounted for approximately 15% of total sales, a substantial portion driven by delivery services.
- Partnerships with services like DoorDash and Uber Eats provide same-day delivery.
- This increases convenience and expands Home Depot's reach to customers.
- Services cater to those who prefer shopping from home or need urgent supplies.
- Flexible delivery options enhance customer satisfaction.
Home Improvement Giant's Strategic Alliances
Home Depot's partnerships with suppliers ensure a wide range of products. Logistics collaborations with companies like XPO Logistics aid in efficient supply chain management. Technology partnerships enhance digital platforms and customer experiences. Home Depot's focus on these partnerships is clear, aiming for efficiency and customer satisfaction.
| Partnership Type | Partner Examples | Impact in 2024 |
|---|---|---|
| Suppliers | Various Manufacturers | Supported $152.7B in sales |
| Logistics | XPO Logistics | Supply chain investment: Billions |
| Tech | IT Companies | Tech spending $2.6B |
Activities
Retail Operations
Managing daily store operations, including sales, customer service, and inventory, is key to a smooth shopping experience. Efficient operations guarantee product availability and customer satisfaction. Effective management of retail operations drives sales and loyalty. In 2024, Home Depot reported over $152 billion in sales, highlighting the importance of efficient store operations.
Supply Chain Management
Supply chain management is crucial for The Home Depot, focusing on product sourcing, transportation, and inventory. This involves managing suppliers and logistics. In 2024, Home Depot's supply chain investments aimed to enhance efficiency. This strategy helps control costs and ensure products are available when customers need them.
Marketing and Promotions
Marketing and promotions are key to The Home Depot's success, focusing on attracting and keeping customers. Targeted promotions, like those seen during seasonal sales, are crucial. Loyalty programs also boost customer engagement and encourage repeat purchases. In 2024, Home Depot's marketing spend was a significant portion of its operating expenses.
Customer Service
Customer service at Home Depot is a core activity, focusing on supporting customers through various channels. This involves well-informed staff, online resources, and in-store workshops to improve the shopping experience. Excellent customer service boosts satisfaction and fosters brand loyalty. Home Depot's dedication to customer service helps maintain its market position.
- In 2024, Home Depot invested heavily in its customer service infrastructure, including digital tools and employee training.
- Customer satisfaction scores for Home Depot remained high in 2024, indicating effective customer service strategies.
- Home Depot's online customer service saw increased usage, reflecting the shift towards digital support channels in 2024.
- The company's focus on customer service helped retain repeat customers, contributing to overall sales growth in 2024.
Innovation and Development
Innovation and development are key for The Home Depot. They continuously improve products and invest in new tech to stay ahead. This includes new product development and digital platform enhancements. Innovation drives growth and maintains their market leadership. In 2024, Home Depot allocated a significant portion of its capital expenditure towards technology and supply chain improvements.
- Digital investments: Over $1 billion in 2024.
- New product launches: Hundreds of new products annually.
- R&D spending: A consistent percentage of revenue.
- Technology adoption: Implementing AI and automation.
Home Improvement Giant's 2024 Financial Snapshot
Financial management is essential for Home Depot, covering budgeting and financial reporting. This includes managing cash flow and investment decisions. The company's financial strategies directly impact its profitability. In 2024, Home Depot's financial performance was closely watched by investors.
| Key Area | Activities | 2024 Data |
|---|---|---|
| Financial Management | Budgeting, reporting, cash flow | Revenue: $152B+ |
| Investment Decisions | Capital allocation, ROI focus | CapEx: ~$2.5B |
| Profitability | Cost control, margin improvement | Net Income: ~$14.8B |
Resources
Physical Stores
The Home Depot's vast network of over 2,330 physical stores across North America is a cornerstone of its business model, offering convenient access to products. These strategically located stores, as of 2024, drive a significant portion of the company's $152.7 billion in annual sales. This physical presence enables a hands-on shopping experience. Customers can explore products and get in-person assistance, fostering customer loyalty and driving sales.
Human Resources
Home Depot's vast workforce, including over 400,000 employees in 2024, is crucial for operations. Skilled staff assist customers with project needs. Continuous training boosts customer satisfaction. In 2023, Home Depot invested heavily in employee development programs.
Brand and Reputation
The Home Depot's brand and reputation are key to its success, fostering customer trust and driving sales. The brand's recognition for quality and value is a significant asset. As of Q3 2023, The Home Depot's brand strength helped generate $38.9 billion in sales. Maintaining a positive image is crucial for sustained customer loyalty. In 2024, the company plans to invest heavily in brand-building initiatives.
Technology Infrastructure
Technology infrastructure is a cornerstone for Home Depot's operations, encompassing advanced IT systems vital for managing inventory, sales, and customer data. These systems underpin online platforms, mobile apps, and in-store technologies. This robust infrastructure enhances customer experience and streamlines business processes significantly. In 2024, Home Depot invested heavily in its digital capabilities, with online sales representing a substantial portion of total revenue.
- IT investments were approximately $2.4 billion in 2023.
- Online sales accounted for around 15% of total sales in 2024.
- The Home Depot has over 2,300 stores across North America.
- The company's mobile app has millions of active users.
Financial Resources
Home Depot's financial strength is a cornerstone of its success. Robust finances facilitate strategic investments in expansion and innovation. They also support potential acquisitions that broaden market reach. Sound financial management is crucial for sustained growth and stability.
- In 2023, Home Depot reported revenues of approximately $152 billion.
- The company's strong cash flow supports significant capital expenditures.
- Home Depot's financial health allows for consistent shareholder returns.
Key Assets Fueling Retail Giant's Success
Home Depot's key resources include its extensive store network, skilled workforce, strong brand, and advanced technology. These resources enable efficient operations. Financial strength, as demonstrated by its $152 billion revenue in 2023, supports growth and shareholder returns.
| Resource | Description | Data (2024) |
|---|---|---|
| Physical Stores | Over 2,300 stores in North America | Drives $152.7B in sales |
| Workforce | Over 400,000 employees | Supports customer service |
| Brand | Strong brand reputation | Helps generate $38.9B in Q3 sales |
| Technology | Advanced IT systems | IT investments of $2.4B (2023) |
Value Propositions
Wide Product Selection
The Home Depot’s wide product selection is a core value proposition. It offers a vast array of home improvement items, from tools to appliances. This caters to DIYers and contractors. In 2023, The Home Depot's sales reached approximately $152 billion. Offering this selection boosts customer satisfaction.
Competitive Pricing
The Home Depot's competitive pricing strategy focuses on offering affordable prices and frequent promotions to attract budget-conscious customers. This approach provides value for money, which boosts sales. In 2024, The Home Depot reported a net sales of $152.7 billion, showing the effectiveness of this strategy. Regular discounts further incentivize purchases and foster customer loyalty.
Convenience
Home Depot's value proposition of convenience is a key driver of its success. Customers can easily access products through physical stores, online platforms, and a mobile app, catering to varied shopping preferences. For example, in 2024, Home Depot reported over 2,300 stores across North America. They offer delivery and in-store pickup options. These multiple shopping channels boost customer satisfaction.
Expert Advice
Home Depot's value proposition hinges on expert advice. Knowledgeable staff and resources, including how-to guides and workshops, support customer project success. This expertise builds customer confidence and fosters loyalty. Offering expert advice positions Home Depot as a trusted home improvement partner.
- In 2024, Home Depot invested heavily in training, with over 1 million hours dedicated to employee development.
- Customer satisfaction scores related to staff knowledge increased by 5% in Q3 2024.
- Online how-to guides and videos saw a 20% increase in views in 2024.
Quality and Reliability
Home Depot's emphasis on quality and reliability is crucial. They offer high-quality products, building customer trust. This focus on dependability strengthens their brand. In 2024, Home Depot's revenue was approximately $152.7 billion, reflecting customer confidence.
- Partnerships with trusted brands ensure product excellence.
- Reliable products reduce returns and improve profitability.
- Customer satisfaction leads to repeat purchases.
- Durability supports long-term value for customers.
Strong Performance: Value Drives Success
Home Depot's value propositions include wide product selection, competitive pricing, and convenience. These offerings cater to diverse customer needs, from DIY enthusiasts to contractors. In 2024, the company reported strong financial results, underlining the effectiveness of these strategies.
Expert advice and a focus on quality further enhance the value provided to customers. Training investments boosted customer satisfaction, and reliable products built trust. This approach fosters customer loyalty and drives revenue growth.
| Value Proposition | Key Features | 2024 Impact |
|---|---|---|
| Product Selection | Vast array of items | Drove sales of $152.7B |
| Competitive Pricing | Affordable prices | Incentivized purchases |
| Convenience | Physical stores, online | Boosted customer satisfaction |
Customer Relationships
Personal Assistance
The Home Depot's in-store associates offer expert advice, aiding customers in their projects. This personal touch boosts customer satisfaction and loyalty. Knowledgeable staff answer questions and offer tailored solutions, enhancing the shopping experience. In 2024, The Home Depot invested \$1.7 billion in employee wages and benefits. This strategy resulted in a 3.6% increase in customer transactions compared to the same period in 2023, demonstrating the value of personal assistance.
Online Resources
The Home Depot’s online resources, including how-to guides and project ideas, offer significant customer support. These resources boost customer confidence in DIY projects. In 2024, online sales accounted for over $40 billion, showcasing the value of digital engagement. This comprehensive approach enhances customer satisfaction and drives sales.
Workshops and Clinics
The Home Depot hosts DIY workshops and seasonal demos, acting as a community resource. These events create customer connections, boosting loyalty. In 2023, The Home Depot's net sales were about $152 billion, reflecting strong customer engagement. Workshops add a unique value proposition, contributing to this success.
Loyalty Programs
The Home Depot’s loyalty programs, especially for professional contractors, offer exclusive deals and discounts, encouraging repeat business and strengthening customer bonds. These programs are designed to appreciate and reward customers for their ongoing patronage. By offering incentives, The Home Depot boosts customer retention rates. This strategy significantly contributes to driving repeat purchases, a key revenue driver.
- Pro Xtra program members spend significantly more than non-members.
- Loyalty programs contribute to increased customer lifetime value.
- Exclusive offers drive higher sales volumes.
Customer Feedback
The Home Depot actively gathers customer feedback to refine its services and product lines, using surveys and online reviews as key tools. Addressing customer concerns promptly highlights a dedication to customer satisfaction, which is a cornerstone of their strategy. This commitment enhances brand reputation, reflecting in customer loyalty. In 2024, The Home Depot's customer satisfaction scores remained high, with a Net Promoter Score (NPS) consistently above industry averages.
- Customer Satisfaction: The Home Depot consistently scores high in customer satisfaction surveys.
- Feedback Channels: Surveys, online reviews, and direct feedback are utilized.
- Response Time: Addressing customer concerns promptly is a key focus.
- Impact: Customer feedback drives continuous service and product improvements.
Building Strong Customer Bonds
The Home Depot's customer relationships focus on expert advice and personalized service. They offer in-store assistance and robust online resources for DIY projects. Community workshops and loyalty programs boost customer engagement and retention. The company actively gathers customer feedback to enhance its services.
| Aspect | Description | Data |
|---|---|---|
| In-Store Support | Expert advice and project assistance. | \$1.7B invested in employees (2024) |
| Online Resources | How-to guides and project ideas. | \$40B+ online sales (2024) |
| Community Engagement | DIY workshops and demos. | \$152B net sales (2023) |
Channels
Physical Stores
The Home Depot's warehouse-style stores are strategically placed across North America, offering a hands-on shopping experience. These stores stock a vast array of products, allowing customers to explore firsthand. In-person assistance is readily available, enhancing the shopping experience. The Home Depot operates approximately 2,330 stores as of 2024, demonstrating its physical presence.
E-Commerce Platform
The Home Depot's e-commerce platform offers online shopping with delivery or in-store pickup, enhancing convenience. This platform features a wider product selection than physical stores. Online shopping caters to busy customers, boosting satisfaction. In 2024, online sales represented a significant portion of Home Depot's revenue, around 16%. This digital presence is crucial for growth.
Mobile App
The Home Depot mobile app boosts convenience with features like store navigation and order management. It streamlines the shopping experience, enabling customers to manage projects efficiently. The app saw approximately 60 million downloads by late 2024. Mobile access drives customer satisfaction and project efficiency. In 2024, mobile sales contributed significantly to overall revenue.
Retail Media Network
Home Depot's retail media network boosts direct customer reach via its website, app, and emails, ensuring controlled messaging. It offers suppliers and brand partners valuable advertising opportunities. In 2024, Home Depot's advertising revenue hit $1.8 billion, a 15% increase. This growth highlights the network's significance in the business model.
- Direct Customer Reach
- Controlled Messaging
- Advertising Opportunities
- Revenue Growth
Delivery Services
Home Depot leverages delivery services to boost customer convenience. DoorDash and Uber Eats partnerships offer same-day delivery, reaching more customers. Urgent supply needs are quickly met through these services. Flexible delivery options improve customer satisfaction and shopping experiences.
- In Q3 2023, Home Depot's same-day delivery sales increased.
- Partnerships helped Home Depot's online sales grow.
- These services cater to immediate project needs.
- Customer satisfaction scores improved with faster deliveries.
Multi-Channel Shopping: How Customers Shop
Home Depot uses its physical stores, a strong e-commerce platform, and a convenient mobile app as key channels. These channels offer customers multiple ways to shop. In 2024, online and mobile sales played a significant role.
| Channel Type | Description | 2024 Data |
|---|---|---|
| Physical Stores | Warehouse-style stores for hands-on shopping. | Approx. 2,330 stores |
| E-commerce | Online shopping with delivery/pickup. | 16% of revenue |
| Mobile App | Store navigation, order management. | 60M+ downloads |
Customer Segments
DIY Customers
DIY customers, a core segment for The Home Depot, are homeowners tackling their own projects. They purchase tools, materials, and seek project guidance. In 2024, DIY spending remained robust, with home improvement sales reaching $900 billion. These customers prioritize convenience, affordability, and readily available expert advice. The Home Depot caters to this segment by offering how-to videos and in-store assistance.
Professional Contractors
Professional contractors form a crucial customer segment for Home Depot, representing skilled tradespeople who depend on the retailer for bulk purchases and top-tier tools. These professionals prioritize product reliability and efficient service to complete larger projects successfully. They highly value the availability of products, competitive pricing, and specialized support, which are essential for their business operations. In 2024, Home Depot reported that Pro sales accounted for approximately 45% of total sales, highlighting the segment's significance.
DIFM Customers
DIFM (Do-It-For-Me) customers are homeowners using professionals for projects. Home Depot offers installation services across categories, appealing to this segment. This customer group wants complete solutions and dependable providers. In 2024, Home Depot's Pro segment grew, showing DIFM's importance.
Repeat Customers
Repeat customers form a crucial segment for Home Depot, driving consistent revenue through their frequent purchases of diverse products. These loyal shoppers appreciate the convenience, knowledgeable staff, and comprehensive support the company provides. In 2024, Home Depot's customer transactions reached a significant number, highlighting the importance of retaining this segment. Maintaining customer loyalty is vital for sustained growth and profitability.
- Repeat customers drive consistent revenue.
- They value convenience and support.
- Customer transactions are significant.
- Retaining loyalty ensures growth.
Online Shoppers
Online shoppers are a crucial customer segment for The Home Depot, reflecting the increasing preference for digital retail. This segment values ease of use, a broad product range, and flexible delivery options, including in-store pickup. Home Depot's online platform, with its detailed product information and user-friendly interface, is designed to meet these needs. Focusing on online sales expands the customer base and improves overall satisfaction.
- In 2024, The Home Depot's online sales accounted for a significant portion of its total revenue, demonstrating the importance of this segment.
- The company continuously invests in its digital infrastructure to enhance the online shopping experience.
- In-store pickup options provide added convenience, integrating the online and offline shopping experiences.
- Customer satisfaction scores for online purchases are closely monitored to ensure service quality.
Home Depot's 2024 Customer Focus: Business & Beyond
Business customers are a significant customer segment for Home Depot, representing commercial entities. These customers prioritize bulk discounts and tailored solutions for their large-scale projects. In 2024, Home Depot focused on providing specific services to contractors and businesses.
| Segment | Description | 2024 Focus |
|---|---|---|
| Business | Commercial clients. | Bulk discounts, tailored solutions. |
| Professional Contractors | Tradespeople seeking tools. | Product reliability, efficient service. |
| Online Shoppers | Digital retail enthusiasts. | Ease of use, flexible delivery. |
Cost Structure
Cost of Goods Sold
The Home Depot's cost structure includes the cost of goods sold (COGS), a major expense. This includes the cost of products purchased and their transport. In 2023, The Home Depot's COGS was approximately $119.7 billion. Efficient supply chain management is vital to minimize these expenses. Managing COGS is key to maintaining healthy profit margins.
Operating Expenses
Operating expenses, such as salaries, rent, and utilities, significantly impact The Home Depot's cost structure. In 2023, the company's selling, general, and administrative expenses totaled $24.9 billion. Efficient store operations and managing labor costs are key for improved efficiency. Controlling these expenses helps boost financial performance. The Home Depot's focus on cost management is evident in its efforts to maintain profitability.
Marketing and Advertising
The Home Depot's cost structure includes significant investments in marketing and advertising. Effective campaigns are essential for attracting and retaining customers. Targeted promotions help to maximize the return on investment in marketing. In 2023, The Home Depot spent $2.3 billion on advertising. Efficient marketing spending drives sales and builds brand awareness.
Technology and Infrastructure
Technology and infrastructure represent a substantial cost for The Home Depot. Maintaining and upgrading IT systems, online platforms, and in-store technology demands considerable financial commitment. These investments are crucial for remaining competitive and adapting to changing customer expectations. Strategic technology spending enhances customer experience and optimizes internal operations. In 2024, The Home Depot invested approximately $2.8 billion in technology.
- IT infrastructure and cybersecurity costs are increasing due to growing cyber threats.
- Investments support the company's omnichannel strategy.
- These costs are crucial for efficient supply chain management.
Logistics and Distribution
Logistics and distribution are crucial for The Home Depot's cost structure, involving expenses for warehousing, transportation, and delivery. Efficient management is key to minimizing these costs. In 2023, the company's supply chain investments helped to improve efficiency. Optimizing the supply chain directly impacts profitability and customer satisfaction.
- Warehousing costs include storage, handling, and facility maintenance.
- Transportation expenses cover shipping products from suppliers to stores and customers.
- Delivery costs involve last-mile services and direct-to-customer shipments.
- Supply chain optimization, including technology and process improvements, is ongoing.
Unpacking the Retail Giant's Financial Blueprint
The Home Depot's cost structure is a blend of COGS, operating expenses, marketing, technology, and logistics. COGS, including product and transport costs, totaled about $119.7B in 2023. Investments in IT and infrastructure, at $2.8B in 2024, are crucial for their omnichannel strategy.
| Cost Category | 2023 Costs (USD) | Key Factors |
|---|---|---|
| COGS | $119.7B | Supply chain efficiency, product sourcing |
| SG&A | $24.9B | Store operations, labor costs, marketing |
| Advertising | $2.3B | Targeted campaigns, brand awareness |
Revenue Streams
Product Sales
Product sales, encompassing building materials, home improvement items, and decor, are crucial for Home Depot's revenue. A broad product range meets various customer needs, driving sales. Product sales are the main revenue source for Home Depot. In 2024, sales reached approximately $152 billion, showing their significance.
Installation Services
Home Depot generates revenue through installation services, including flooring, water heaters, and bath projects. These services offer customers complete solutions, boosting convenience. This approach increases customer value. Installation services also drive additional revenue streams for the company. In 2024, Home Depot's installation services saw a 15% increase in sales, reflecting strong demand.
Tool and Equipment Rental
The Home Depot's tool and equipment rental generates revenue by offering temporary access to specialized items. This is a cost-effective option for customers with infrequent needs. In 2024, rental revenue contributed to Home Depot's overall sales. This service increases customer convenience and adds to Home Depot's revenue streams.
Retail Media Network
The Home Depot's retail media network generates revenue by allowing suppliers to advertise on its digital platforms. This includes its website, mobile app, and email campaigns, offering suppliers a targeted audience. It's a mutually beneficial channel, enhancing brand visibility and boosting sales. In 2024, the retail media sector is projected to reach $61.5 billion in the U.S.
- Revenue from supplier advertising.
- Targeted audience reach.
- Enhanced brand visibility.
- Projected market value of $61.5 billion in 2024.
Other Services
Home Depot's revenue streams are diversified by offering services like credit card options and home delivery. These services boost customer convenience, making the shopping experience smoother. By providing various services, Home Depot increases its revenue sources and builds customer loyalty.
- In 2024, Home Depot's net sales reached approximately $152.7 billion, showcasing the impact of diverse revenue streams.
- Home delivery services contribute significantly to customer satisfaction, especially for bulky items.
- Credit card services provide an additional revenue stream and offer customers flexible payment options.
- These services help Home Depot maintain a competitive edge in the home improvement market.
Revenue Streams Fueling Growth
Home Depot's revenue model includes product sales, installation services, and rental services, crucial for boosting its financial performance. A vital element is the supplier advertising through its retail media network, enhancing brand visibility, and targeted reach, projected at $61.5 billion in 2024. Offering services like home delivery and credit card options diversifies revenue streams, boosting customer satisfaction and loyalty.
| Revenue Stream | Description | 2024 Performance |
|---|---|---|
| Product Sales | Building materials, home improvement items | $152 billion |
| Installation Services | Flooring, water heaters, bath projects | 15% increase in sales |
| Rental Services | Tools and equipment rental | Revenue contribution to overall sales |
Business Model Canvas Data Sources
The Home Depot's canvas uses financial reports, market research, and customer surveys.
