Home Improvement Redefined
Home Depot, the renowned home improvement retailer, has been making waves with its annual reports and the unveiling of a new advertising slogan. In recent years, they have deviated from their long-standing catchphrases, opting for a fresher and more relevant approach. The current tagline, introduced in 2019, reads “How doers get more done.” This departure from their previous slogan “Save More. Do More.” (used since 2009) signifies a shift in their messaging. This raises the question: what do you make of these changes?
A Focus on Projects and DIY
With a surge in consumer spending and an uncertain government spending landscape, Home Depot has redirected its attention towards projects and do-it-yourself (DIY) construction. In today’s economy, homeowners are more interested in enhancing and expanding their living spaces rather than solely saving money. Consequently, Home Depot’s recent taglines cater to those seeking to save money by taking matters into their own hands. However, even Home Depot, faced with the supply crunch of 2020-2021, must adapt to market forces when it comes to discounted materials.
“Consumers now prioritize value. Frankly, it’s pretty much the only thing.” – Howard Davidowitz, Chairman of Davidowitz & Association, a national retail consulting and investment bank in New York.
Crafting the Perfect Slogan
Developing a successful Home Depot slogan and advertising campaign is no easy feat. It takes months of meticulous research and often follows one of two primary directions. The first direction emphasizes Home Depot’s expertise and their ability to provide customers with the necessary materials to accomplish their projects. The second direction promises enhanced value for consumers. Some slogans, such as the 2009 catchphrase, attempt to combine both approaches.
Home Depot’s Slogans Through the Years
Over the years, Home Depot has introduced various slogans, each capturing the company’s evolving identity. Here are a few notable examples:
- 2019: How doers get more done.
- 2009: More savings. Do more.
- 2003: You can do it. We can help.
- 2001: Reducing Home Improvement Costs.
- 2001: No. 1 in Home Improvement.
- 1993: Low prices are just the beginning.
Comparing Home Depot and Lowe’s
In today’s competitive market, Home Depot faces off against Lowe’s, a rival home improvement retailer. Lowe’s takes a more holistic approach, focusing on an extensive range of accessories and appliances, while Home Depot’s raw styling and warehouse-like image lend credibility to its low-price marketing efforts. Interestingly, Home Depot now emphasizes project completion, appealing to a broader audience, whereas Lowe’s tends to target professional tradesmen.
Thriving Against All Odds
Home Depot has demonstrated remarkable adaptability, thriving even in challenging times. Throughout the pandemic, they managed to achieve record sales and earnings, growing by over $21 billion in fiscal 2020 alone. The true impact of Home Depot’s current slogan on these impressive results is yet to be seen!
Advertising Investments: A Testament to Success
Home Depot’s commitment to advertising is evident in its substantial investments. Here is a breakdown of their total advertising costs in recent years:
- 2020: $1.2 billion
- 2019: $1.186 billion
- 2018: $1.156 billion
- 2017: $995 million
- 2016: $955 million
- 2015: $868 million
- 2014: $884 million
- 2013: $865 million
- 2012: $831 million
- 2011: $846 million
- 2010: $864 million
- 2009: $897 million
- 2008: $1 billion
- 2007: $1.2 billion
- 2006: $1.2 billion
- 2005: $1.1 billion
What’s Your Favorite?
Among the various slogans, our personal favorite is “You can do it. We can help.” This catchy tagline exudes a warm, hometown hardware store vibe, encouraging customers to take on any project with confidence. It’s as if Home Depot is saying, “Go ahead – we’ve got your back!” Since then, subsequent slogans have become more focused on attracting attention through wordplay, sometimes bordering on kitsch. Unfortunately, they lack the ability to truly inspire and motivate. One thing is for sure – once Home Depot selects a slogan, it becomes ubiquitous, appearing everywhere, including the popular Home Depot Pro app.
We’d love to hear your thoughts! What’s your favorite Home Depot slogan? Feel free to share your opinion in the comments below. Thanks for reading!