Building & Lumber Subcategory Breakdown
As the building and lumber industries continue to evolve and shift in the post-pandemic era, examining underlying subcategory trends is more important than ever. Understanding what retailers are positioned well and growing in important subcategories can give brands a competitive advantage.
In 2Q23, lumber & composites accounted for 23.8% of building & lumber category GMV, followed by fasteners at 9.8%, doors at 7.2%, asphalt, concrete & masonry at 6.2%, and vinyl flooring at 5.3%.
Building & Lumber Subcategory YoY GMV Growth
United States | Online + Offline Sales | 3Q21 - 2Q23
Among online and offline home improvement retailers, consumers have increased spend on fasteners, doors, and asphalt, concrete & masonry, while spending less on lumber and vinyl flooring. While fasteners and lumber have historically trended similarly in year-over-year growth, the fasteners subcategory separated itself in 4Q22, and has seen consistently positive year-over-year growth since 4Q21.
Focusing on the rapidly expanding fasteners space, Home Depot has held a strong position, outperforming Lowe’s and maintaining a dominant market share (65.7% in 2Q23). Menards (6.2% in 2Q23) and Amazon (4.8% in 2Q23) and have been neck and neck as the third and fourth largest market share players in the space.
Fasteners Subcategory Merchant GMV
United States | Online + Offline Sales | 3Q21 - 2Q23
While all four players in the fastener space have seen consistently positive year-over-year GMV growth since 2Q22, Home Depot has managed to do so as the existing market share leader by leveraging its strong reputation and wide product coverage to attract a large range of consumers.
Fasteners Subcategory Merchant GMV
United States | Online + Offline Sales | 3Q21 - 2Q23
Interested in which products and brands are driving fastener and other subcategory growth at Home Depot, Lowe’s, Menards, and Amazon?
Sources: Email Receipt Data, Physical Receipt Data
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