Hater's Guide to Home Depot - Money Saving Secrets Revealed!

this is the hater's guide to Home Depot there's some Secrets buried deep in that big Orange store that we're going to uncover in this video it's going to save you time and money but to get there we need to go way back to the beginning where it all started where the owners of Home Depot were fired from their previous jobs let's go [Music] so two of Home Depot's Founders Arthur Blank and Bernie Marcus were fired from a store called handy dance it was a home improvement store from back in the 70s that store started struggling a little bit so they brought in someone to ride the ship well they fired those two in 1978. so Mr blank and Mr Marcus got together and decided they wanted to open their own home improvement store with a few changes they wanted their stores to be bigger and have more selection than their competitors they wanted to sell Home Improvement products at lower prices and get this they wanted their employees to be well trained so that they could answer questions from customers about Home Improvement projects I know more than you all right so in 1979 only one year after being fired they opened their first two stores in Atlanta Georgia and the Home Depot was born now blank and Marcus didn't do this by themselves they had two other people involved an investment banker Ken langone I think it's his name and a merchandising expert Pat Farah in 1981 the Home Depot stock went public at 12 a share which helped them raise four million dollars now the Home Depot did something fairly early on that really changed their trajectory as far as their company goes in my opinion and that is in about 1986 they started focusing on the Pro customer and this makes a big difference later by 1989 just 10 years after Home Depot first started they had 100 stores open in the United States by 2005 they had 2 000 stores open and today they have over 2300 stores in the United States Canada and Mexico which makes them the largest Home Improvement retailer ever and if we back up just a little bit as a side note in 2001 Arthur Blank retired as co-chairman of the Home Depot go and bought the Atlanta Falcons for a small 545 million dollars here's a fun fact for you in 2010 the Home Depot became the first brick and mortar retailer with that smartphone app on all three major platforms iOS Android and if you can guess the third yeah you're that old Home Depot was also the first in retail history to come up with the spring Black Friday promotion in 2020 the Home Depot dipped their toe in the water of e-commerce just in a small Test Section in Las Vegas and that worked out so well that today they are the fifth largest e-commerce business in the United States they are only behind Amazon eBay Walmart and Etsy and fifth is the Home Depot that is impressive in 2017 Home Depot surpassed 100 billion dollars in Revenue 100 and as of 2022 it's 157.4 billion dollars of Revenue annually foreign Depot from Lowe's well Home Depot is actually geared more to the Pro customer versus the homeowner now they do cater to the homeowners obviously but they have more Pro services and they're having more locations which means they're easier for people to access on a daily basis the Pro customer only makes up 10 percent of the Home Depot's customer base however 50 percent of the Home Depot's sales come from the Pro customer as of 2021 it's the latest data we got this means that the pro contractors are making larger purchases at one time in other words they're ordering things in bulk they're making bigger purchases every time they go versus the homeowner picking up things here and there now supposedly Lowe's is set up Less warehousey in other words it's more accommodating to the homeowner going in to make them feel a little more comfortable although in my region I don't see this they both look very similar in the store other than ones orange and one is blue another thing Home Depot is doing that's different than low those is they're investing heavily in their distribution Network they're building distribution centers Nationwide so that they can restock their stores faster and so that they can deliver large orders to those contractors that are a key part of their business and get their orders to them faster because they're closer to them now the Home Depot also has exclusive rights to some very popular tool Brands like Ryobi and rigid they also carry Homelite and bare paints they also carry Brands you may have heard of called HDX like the storage line of things and Husky which is what this whole setup back here is a husky box in 2020 the ego line of power tools left the Home Depot and went to Lowe's a lot of people really didn't like that move and thought it was a bad idea but the last time I walked into my local Home Depot I could not believe how many Ryobi outdoor power tools were there and I thought that was a very strong play on both the Home Depot and ryobi's business model there are so many tools using the same battery platform it is unreal how many tools they have no other ego and Ryobi are the same quality of tools I'll leave that up to you to discuss in the comments couple more tool Brands you won't find in Lowe's that you're going to find in the Home Depot is Milwaukee a very very popular brand of tools that are beloved around the world also Makita you won't find those in Lowe's either so that's one of the main reasons a lot of people choose Home Depot over Lowe's is because of the tool selection to walk Milwaukee Makita Ryobi Ryobi rigid multiple other tool Brands all in the same store it's just easier for the pro and the consumer alike I didn't mean to what was exclusive the whole video I just meant that you could get them there because you can get them in those two but point being you can get all the tools at Home Depot and some you can it close like Cobalt who's buying Cobalt tools the Home Depot has one one of the best mobile apps I've seen especially if you use it in store and have location services turned on your device when you walk into the store and you open the app it totally changes from what you see outside of the store you can get a very detailed store map that you can find any product you're looking for it makes it much easier to navigate your individual store it also has a barcode scanner that allows you to scan any product that they have and show you the current online price and the reason that is important is a lot of times the online price is less than the store price if that's the case normally the Home Depot store will not price match their own website for some weird reason all you do is buy it on the app and choose in-store pickup and about 30 minutes later it's ready to pick up that's how you can save some money you can also favorite products on your app so that when you go into the store you can quickly check them out on your device kind of like making a shopping list for tools and there's a store saving section that will show you whatever savings or sales are going on in that specific store speaking of in the store if you've ever seen price tags with different numbers on there they have a meaning they're not random there is a purpose for them being on there and I've touched on this in a previous video but there's been a few tweaks that I want to cover first and foremost there's a date on there and that date signifies at what point that sticker was put on there for starters on the price tags if you see a price that ends in 0.97 or 0.98 that is the regular sales price of that item it's not on sale it is that price doesn't matter if it has a colored yellow sticker on it or not it's that price all the time if you see a price that ends in point zero zero that means it's just now entering the clearance phase of its life cycle don't be in a hurry to buy this product if you can wait it's going to go cheaper later and I'm going to tell you how to know that if the price ends in .06 cents it is six weeks away from going lower than this it has been discounted up to about 50 percent in most cases anywhere in that range but it is not at its lowest price yet it's a good price but not the lowest if you see the .03 or .02 on the price tag that item has two to three weeks left depending on the number in that store so if you want it you better buy now keep in mind the ending number is .02.03 have nothing to do with the numbers in front of the decimal 28 38 58 so if at .06 it is 3506 and three weeks later it may be 1503 so just keep that in mind another tip for you is anyone can use the pro desk buying products of fifteen hundred dollars or more and the products can reduce your cost up to 10 percent so that could be a really big savings on a big project if you're remodeling the bathroom or building a deck or something like that I would take that item to the pro desk if you reach that threshold another tip you may not be aware of is each cashier has the lead way to reduce the price or give you a discount up to fifty dollars that doesn't mean they have to it doesn't mean they're going to give you fifty dollars off a fifty dollar item but they have the lead way to give you some discounts there if you ask but please be nice and don't just expect them to do it it's something they can do but don't have to nice will get you much further than being rude another thing a lot of people don't know is the Home Depot doesn't keep their over stock in the store they have a lot of Overstock items online I'll link to the exact place on their website in the description below you can go check it out where you can find some really good deals on a lot of items that are Overstock and this includes tools storage and anything really that Home Depot has that they've got too much of you got to go check this out and save you a lot of money another thing that Home Depot does is they have exclusive sales at certain times of the year right now through July 17th of 23 they have what's called Ryobi days Ryobi days they have special deals that you won't find any other time of the year and one of my favorite deals is the Ryobi 3 battery starter kit the high performance batteries and the brushless line of tools if you buy the battery pack you get one of the 20 something something like this 18 gauge nail gun or the circular saw like just all really nice tools for a very good price 199 bucks for one tool plus the three batteries just a good deal they have a lot of deals going on right now I'll link to my favorites in the description from both Ryobi and Ryobi I meant to say right be and rigid so you can go check them out see if they're right for you here's another great tip to save you some money if you're shopping online or on the app change locations on your store for instance my local stores Little Rock Arkansas store I can change it to say St Louis Missouri or Oklahoma City or wherever and sometimes I will get a lower price online using a different store then I can just have it shipped to me I just got a lower price just because I took a few minutes to change locations on the app or on the website so give it a try see if it works for you one of the biggest secrets is smashing that subscribe button clicking that Bell icon so you don't miss tool deals and videos like this do it now it seems to me from the outside looking in that the Home Depot is setting themselves up strategically to dominate The Home Improvement space adding all of those distribution warehouses Across the Nation more of those so that they can get closer to their Pro customers is a key strategy in my opinion I think this will help them dominate for a while to come I think a lot of people way underestimate the power of an exclusive brand like Ryobi because of how many tools they have in their platform both outdoor tools cordless tools just tools to for days Ryobi days they got tools for Ryobi days like they're all over the place and there are so many of them so readily available at a good price that most people who buy them never have trouble out of them because they're not professionals buying these tools most are homeowners while some use them in a professional setting a lot of homeowners will go in and pick this up because this battery still works into schools purchased in 1996 of ryobi's brands that is a huge selling point in my opinion for their tools and they just keep getting better and better every year and they keep adding more and more to their tool lineup they are a force to be reckoned with in the tool space and I think a lot of people underestimate that as a draw to the Home Depot and do you say the Home Depot or just Home Depot because I say it both ways if you have any secret tips and tricks that Home Depot users that we don't know about leave those in the comments below I'll use those in the next video If you enjoyed this haters guide you got to check out my others in this series haters guide to Ryobi hater's guide to Harbor Freight and some others click that box get you the big old virtual fist pump or 10 Home Depot secrets you probably don't know check that box

Channel: 731 Woodworks

Views: 77,960

Keywords: 731 woodworks, Home Depot, Home Depot shopping secrets, Home Depot history, how did Home Depot start, Home Depot online deals, Home Depot deals, Home Depot tool deals, Home Depot pricing, Home Depot price tag, Home Depot clearance, Home Depot overstock, Home Depot sales, Home Depot secrets, how to save money at home depot, best Home Depot sales, Home Depot exclusive tool brands, ryobi tools, ridgid cordless tools, husky tool boxes

Id: 2zVsM8xptFc

Length: 12min 23sec (743 seconds)

Published: Sun Jul 02 2023