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Not all retailers see the tools as a significant sales catalyst. For example, Home Depot is the only retailer that sells Milwaukee and Ryobi. Some of them have exclusive deals with the home improvement retailers. Those include a variety of companies that have expanded their battery and hybrid lineup, such as John Deere, Toro, Stanley Black & Decker -owned DeWalt, Ryobi and others.
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The company declined to share a more specific split for the battery-powered category.Īs the upgrade cycle takes hold at Home Depot and Lowe's, the equipment makers themselves stand to benefit.
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Home Depot is offering dedicated support, special pricing for large orders and rewards through its pro loyalty program.Ībout half of Home Depot's total sales come from home professionals, but electric tool revenue skews toward DIY buyers. Now, he said the company wants to win over professionals, who tend to place bigger orders and replace equipment more frequently. With or without policy changes, do-it-yourself customers have been quick to embrace battery power, said Billy Bastek, Home Depot's executive vice president of merchandising. It passed a law that bans the sale of emissions-producing small, off-road engines like the ones in mowers and blowers starting in 2024. Plus, the spike in working from home means more Americans have noticed the irritating growl of a gas-powered leaf blower outside of their window, prompting some to buy quieter battery-powered tools for their own yard or lobby the homeowner's association for a ban.Ĭalifornia, the most populous state in the country, is also sparking change.
Operating a commercial lawn mower for one hour emits as much pollution as driving a new light-duty passenger car the more than four-hour journey from Los Angeles to Las Vegas, according to the California Air Resources Board, a state government agency. The tools, while much smaller than a car, can contribute to a lot of smog-forming emissions. Some states and cities have proposed or passed limits on gas-powered equipment or offered rebates and tax credits for battery-powered tools. Technology has improved, bringing longer-lasting batteries and more power, without the mess or expense of gas. Yet several more recent factors have increased interest in electric power for landscaping. The first electric outdoor equipment hit Home Depot and Lowe's shelves in the mid-2000s. It declined to say where the share of sales is today.įor more than two decades, manufacturers have offered battery-powered tools. and Canada sales in outdoor power equipment run on rechargeable batteries instead of gas by late January 2029. Home Depot touted the products at an investor day in New York City earlier this month, and it recently set a goal to have more than 85% of its U.S. He said investors will watch whether battery-powered tools, and other new products across stores like higher-quality paint, flooring and appliances, can truly be a "needle mover."Īs the easy sales gains of the Covid pandemic fade, both Home Depot and Lowe's have pointed to the cordless, battery-powered tools as an opportunity. "And that's where these new products fit in."
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"When you ask 'What's been driving the ticket,' aside from inflation and like-for-like increases in product costs, the biggest driver is innovation," he said. But, he added, advancements in battery-powered tools have prompted an upgrade cycle and given do-it-yourself customers and home professionals a reason to come to stores for bigger purchases. Outdoor power equipment drives just a small fraction of the retailers' sales, said Zack Fadem, an analyst at Wells Fargo.
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Lowe's also cut its outlook and projected a drop in sales for the full year. Home Depot posted its worst revenue miss in 20 years for the fiscal first quarter and lowered its full-year forecast, saying it expects sales to decline by between 2% and 5% this fiscal year. Both have looked for a jolt as they see weaker store traffic and brace for declining sales in the year ahead. The transition away from gas power could come at a good time for the two home improvement retailers. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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