In the vast and varied world of home improvement, paint has always held a place of prominence. Home Depot has been a longstanding leader in the category with paint ranking as the retailers #5 largest product category at $4B in sales.

However, Home Depot has experienced competitive pressures from rivals like Lowe's and Sherwin-Williams, resulting in a 2pp loss of market share over the past two years.

How are competitive dynamics evolving the paint industry?

The home improvement industry is at a crossroads, shaped by a digital landscape that continues to grow exponentially - as of 1H24, online sales now account for 37% of the industry's total market share.