Lowe’s steals Home Depot’s crown during the pandemic, card transactions show
One thing about being trapped on the home front during a pandemic is that it makes consumers take a long look at where they are spending time and then decide to open their wallets to make themselves more comfortable.
The consumer home supply warehouses category, which includes the Lowe’s LOW, +2.63% and Home Depots HD, +2.74% of the world as well as smaller hardware and lawn-and-garden stores, reflects this trend. It has been absolutely surging over the past few months.
Looking at consumer spending data drawn from debit card transactions that represent the average U.S. consumer shows just how dramatic the spike has been.
