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How Covid-19 Sparked a DIY Home Improvement Boom and Billion-Dollar Deals for Lowe’s & Home Depot
Leading home improvement retailers Lowe’s and Home Depot experienced record-breaking growth during this period. As labor shortages forced many to take on projects themselves, these retailers became go-to destinations for both beginners and seasoned DIYers.However, as the labor market recovered, both companies shifted their strategy to focus more on professional contractors. Home Depot made headlines in 2024 with its acquisition of SRS Distribution, a company supplying pros with roofing and landscaping materials. In response, Lowe’s made its own power move by purchasing Artisan Design Group (ADG) for $1.32 billion, expanding its footprint in the professional design and installation space.
With the U.S. projected to need 18 million new homes by 2033, this shift toward serving professionals signals a long-term vision for growth. Both Lowe’s and Home Depot are positioning themselves not just as DIY hubs but as major players in the future of home construction and remodeling.This article explores how a global crisis transformed the home improvement industry and set the stage for billion-dollar investments and fierce competition between the two giants.









