Home Depot Slogan
Home Depot released its 2008 annual report this week and simultaneously announced it is launching a new advertising campaign this month. The new campaign seems to divert away from the no-holds barred approach of “You can do it. We can help.” to a more fiscally sensitive tone of “More saving. More doing.” This new Home Depot Slogan will be part of a ton of 2009 advertising this year—so what do you think?
Suffice it to say, the new slogan is an indicator that the Depot is aware that fiscal cuts are going on in the consumer marketplace (even if government spending is current out of control). People are, first and foremost, concerned with saving money and Home Depot’s new TV ads will promote Home Depot’s “bare-bones style”, offering support for those looking to save by doing it themselves and getting their materials at discounted prices.
“Right now what the consumer is responding to is value,” said Howard Davidowitz, chairman of a national retail consultancy and investment bank Davidowitz & Association in New York. “Frankly, it’s almost the only thing.”
The ad campaign is the result of months of research and work which began last year and stresses two things: a return to Home Depot’s core of “being real, authentic and genuine” and emphasizing value.
From what we’ve seen, the new ad campaign also effectively takes aim at the more clean-cut Lowe’s, which fancies itself as being more refined and better targeted towards women. In this economy, Home Depot’s raw styling and warehouse-looking persona actually lends more credibility to its bargain pricing marketing efforts – something likely to win over shoppers from its chief rival.
Last quarter, Home Depot actually gained market share from Lowe’s in nine of 13 categories – the first time in years. This isn’t surprising since the company started driving prices lower on certain items and discontinuing unprofitable promotions on others last Fall.
Home Depot’s History of Slogans
- 2009: More saving. More doing.
- 2003: You can do it. We can help.
- 2001: Driving down the cost of home improvement.
- 2001: First in home improvement.
- 1993: Where low prices are just the beginning.
Home Depot’s gross advertising expenses
- 2007: $1.2 billion
- 2006: $1.2 billion
- 2005: $1.1 billion