Retail news that keeps industry pros in the know
Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.
Quarantine taught us we needed more space: a real house with a real yard for me, and nearly an NFL stadium for Home Depot.
Home Depot said yesterday it’s opening three 600,000+ sq. ft. distribution centers in the Atlanta area over the next 18 months, with the first slated to open before 2020 ends.
- The goal: Speed up online deliveries for all the quarantine kitchen refabs.
The backstory: In 2018, Home Depot said it’d invest $1.2 billion to open around 150 U.S. distribution centers, aiming to nail same-day or next-day delivery for 90% of the U.S. In present day, the plan sounds like it was hand-delivered from Marty McFly.
- Home Depot’s e-comm sales jumped 80% YoY in Q1 of this year.
- More than 60% of its online orders were picked up curbside in that same quarter.
Zoom out: In 2020, up to 50% of leasing activity logged at commercial real estate firm JLL has been linked to online retail. By 2025, JLL anticipates retailers could occupy an additional 1 billion sq. ft. of warehouse space.