2009.07.01
Top 100 retailers
The National Retail Federation's STORES magazine announced the top 100 retailers by annual revenue in 2008 today. I thought you'd be interesed in this ranking of the Top 10 on the list. Note that discount and food retailers mainly are near the top.
1. Wal-Mart
2. Kroger
3. Costco
4. Home Depot
5. Target
6. Walgreens
7. CVS Caremark
8. Lowe's Home Improvement
9. Sears Holding
10. Best Buy
Click here to read an analysis of how these retailers squeezed into the top 10.
Some of these must have made it on the list by default or just flat out lack of real competition.
Best Buy? No customer service to speak of and never having what you need in stock.
Lowe's I can see as I shop there and rarely the orange (HD) one. But every time I'm there I hear the automated service request thing go off repeatedly for the same thing in a short time. Telling me that no one is answering the page.
Comment by Mike D — July 1, 2009 @ 9:11 pm
Mike, that's a lot more common now than it had been, because the economy has caused Lowe's and other companies to tighten up their staffing levels. The other issue is that most often when you hear those chimes going off, the employee is busy with another customer and unable to answer the automated button page. Often, an employee from a different department will have to walk across the store to assist, or a member of management will field it. While I worked at Lowe's, I was primarily a cashier but also worked in the Garden Center. I often helped customers in the various departments when asked questions, because I know a fair amount about home improvement repairs and projects from doing them myself. Unfortunately, I was a rarity. Most often, unless the employee is specifically designated for a particular department or has worked in it previously, they are not knowledgeable on what may be needed, or skilled in using the cutting or mixing equipment that those buttons are most often located next to. I was actually almost certified in every department (minus cutting and mixing tests) including paint, electrical, plumbing, millwork, lumber, and hardware. I was certified for tools, indoor and outdoor lawn & garden, and all things front end (all as/while a cashier). Not many people ever bother to cross-train themselves, and it has not been a corporate policy to my knowledge, though that was changing at least at the store I worked at to deal with smaller staffing limits and to improve customer service.
Comment by Other John — July 2, 2009 @ 10:11 am
I am particularly interested in the placement of Lowe's and Home Depot on this list. They are such big competitors, even positioning their stores right next door or right across the street from each other. And I hear a lot of people say they are either a Lowe's person or a HD person for one reason or another. My brother-in-law says he shops Home Depot for lawn and garden stuff and Lowe's for other things. I believe he just thinks the HD garden center is better stocked and priced.
I'd be interested to hear how many people out there reading this blog are devoted to one store or the other. In our household, we generally go to one more often than the other just because it is closer, but we still head to the other store on a fairly regular basis, depending on what we are looking for and who has the best prices in the sales ads.
Comment by Lindsey — July 2, 2009 @ 12:31 pm
Mike- the list is based on annual revenue. If it was based on customer service, Walmart wouldn't make the cut.
Comment by Jimmy — July 2, 2009 @ 1:03 pm
Say what you want about Best Buy...they must be doing something right if they exist, and Circuit City is pushing up daisies.
Comment by Rich — July 2, 2009 @ 1:21 pm
Lindsey, long before I actually worked at Lowe's, I tended to shop there anyway. Back a little more than 5 years ago, I worked on a home renovation in which we comparison shopped between both Lowe's and home Depot because both are in Christiansburg, close to each other. We about equally split our purchases between the 2 stores, depending on items. What we noticed after the fact was that while we saved money on a lot of things at HD, we found that the quality on what we bought was not on par with the comparable but more expensive items at Lowe's. I don't really know why this was, and perhaps it was isolated to their cabinetry items, but it's what we saw. Since then, I only shop at Lowe's if i can help it, though from time to time HD will stock something I need that Lowe's doesn't. On a totally unrelated note for what's in the stores, I just tend to like Lowe's because their color scheme is a lot less 'loud' than the HD Orange. I get headaches looking at those colors for too long, so my HD trips are usually short, one or two item sprints, while my Lowe's trips are much longer and I tend to leave with a car load.
Comment by Other John — July 2, 2009 @ 2:54 pm
This list looks no different than the Fortune 100 with all the non-retail businesses stripped out. It should hardly come as a surprise to anyone, yet alone be more than filler on an otherwise slow news day.
Comment by Rich — July 2, 2009 @ 3:11 pm
Not really comparing "apples to apples"
This list is gross revenues, (national or international???)
It doesn't take into account the number of stores. Looking at the original table, #2 & #3 compare 3654 stores to 544. Obviously #3 is far out performing #2.
Show me the stats on "customer service" as reported by an independent anonymous agency & that'll give you something to sink your teeth into.
As to the Home Depot vs. Lowes, again it's HD 2274 stores compared to 1649 Lowes. As the 'other John' eludes to, it's all in the employees competency along with their leadership (management). I've been in Lowe's & the service was pathetic with employees more interested in moving stock than assisting potential customers. I choose to vote with my feet, and walk out, going to the other store. This works both ways HD & Lowes.
What I have noticed recently is the low stock levels @ WallyWorld. They will be out of items for weeks on end. With computer tracking as it is today, there's no excuse in my book for this. Yep, this is the LACK of Customer Service.
Actually as I think of this, the real comparison for retailers is the performance per square foot in $$$.
Comment by Steve — July 3, 2009 @ 11:23 am
OJ I see your point and trust me I thought of that. But when it goes on for 15 minutes or more it makes you wonder. I also noticed it before the economy went down hill and places had to make cut backs. Maybe my post sounded more harsh than I intended. Still I will take blue over orange.
Jimmy I understood that about the story, but like other people I took that opportunity to voice my opinion. Best Buy made the list due to that lack of another big electronics competitor. I'm not the only one that dislikes Best Buy. Most I talk to have the same complaints. Near nonexistent service and not restocking. YES they can sell out of something in a sale. But when it is a non sale item and it goes on for weeks there is no excuse. There are smaller retailers and in the age of the internet other places to shop. It they continue the with the problems they will go down just like Circuit City. Think about it, they were once on top too.
As last as far as Walmart, yea their service can suck. But the sad thing is I can usually find help there easier than BB. Sometimes the person that works back there actually knows what they are talking about.
Comment by Mike D — July 3, 2009 @ 10:09 pm
Other John, that's interesting that you price compared and came out about half and half.
I know that we went to Lowe's for paint one time and they had a kid behind the counter who looked about 16. He had a whole line of customers and said it was his first day alone behind the counter. And he was having trouble answering questions. We felt sorry for him but we went to Home Depot, where there were two guys behind the counter, one of which is a shop teacher on the side. Needless to say, he was a big help.
I think a lot of it just depends on the day! Sometimes we have a better experience at Lowe's. I guess this is where competition is a good thing for the customer.
Comment by Lindsey — July 6, 2009 @ 5:12 pm