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Sam's Club getting into home improvement business, competing with Home Depot, Lowe's
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Walmart-owned Sam's Club is trying to nab a share of the home improvement market amid the busiest season for renovations.
It's a market that's currently dominated by other heavy hitters in the industry although the two biggest names, Lowe's and The Home Depot, only account for 30% of it, according to Liz Suzuki, senior hardlines retail analyst at Bank of America Securities.
LOWE’S COS., INC.
THE HOME DEPOT, INC.
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To try and catch up, the members-only club, in collaboration with Service Finance Company, LLC, a subsidiary of ECN Capital Corp., announced plans to launch Sam’s Club Home Install Experts by Service Finance.
The service is said to connect members with local home improvement contractors who offer a range of services from HVAC, roofing, siding, window and door installation to bathroom and kitchen renovations and flooring products.
To lure in more consumers, Sam’s Club is offering members an additional discount on everyday dealer pricing as well as a financing option through Service Finance Dealers.