Home Depot's online GMV increased by $6.5 billion, and it achieved record sales

The home furnishing e-commerce industry saw explosive growth in 2020 as Americans spent a lot of money on upgrading their homes and furniture , while also setting a record demand for holiday decorations.

Home Depot's online sales increase by $6.5 billion

Recently, Home Depot, the leader in the U.S. home furnishing industry, released its financial report, stating that its online sales increased by $6.5 billion in the fourth quarter alone , pushing total sales growth to a record high of $21 billion in 2020. According to Home Depot, its online sales growth accelerated by 25% in the fourth quarter .

It is reported that Home Depot's more spending is used for the negative impacts it has suffered, including pressure from product mix, shrinkage and transportation costs. Its operating profit has also been hit by additional expenses in wages, IT and COVID-19 prevention. Recently, the soaring cost of raw materials such as wood has also limited Home Depot's profitability.

Home Depot executives said that in 2021, they will strengthen business investment, upgrade supply chains and improve e-commerce business to maintain customer expectations and further enhance customers' online shopping experience. As the COVID-19 pandemic is brought under control, the potential growth potential of the home furnishing industry is gradually increasing, and they will be prepared to cope with future changes.

3,100 dining chair backs recalled

Home Depot is recalling 3,100 of its StyleWell Wood Windsor dining chairs because they pose a fall hazard and there have been 17 reports of the backrests detaching from the base, according to the U.S. Consumer Product Safety Commission.

The CPSC recommends that consumers immediately stop using the recalled chairs and inspect the underside of the chair base for missing screw holes and wood screws. It is worth noting that Home Depot is contacting known purchasers directly to provide consumers with instructions on how to inspect the chairs for defects.

The recalled chairs are available in black, natural wood, red and white and have eight vertical back spindles. The seat base of the chair is 17.5 inches wide , 17.5 inches deep and 17 inches high. The backrest is about 19 inches wide and 18 inches high from the top of the seat base. Each chair weighs about 15 pounds.

In addition, it is worth noting that the dining chairs recalled this time only include chairs without screw holes and wood screws on the back of the chair seat base. Sellers who sell similar products should also pay special attention, because the safety issue should not be underestimated.

Home Depot

Fourth quarter report

Dining Chair