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Why Home Depot Failed In China | A Look Inside China’S Social - At Up-Tube.com

Why Home Depot Failed In China A Look Inside China’s Social 1 month ago   05:54

CNBC
Home Depot bought Home Way, a Chinese home improvement company, in 2006. The acquisition marked the first time Home Depot had expanded beyond North America. With a booming economy and strong real estate market, China seemed like an easy win for Home Depot. Within six years, the company had closed all its stores in China.

In the 1990s, the Chinese government loosened regulations on the housing market, allowing its 1.2 billion citizens to own private homes for the first time since the Communist revolution in 1949. Home improvement and furniture companies like Sweden's IKEA and the U.K.'s B&Q rushed to meet the need.

In 2006, Home Depot bought the Chinese home improvement company Home Way, giving them 12 stores in the country. With its booming economy and strong real estate market, China seemed like it would be an easy win for America's home improvement giant.

But by 2012, Home Depot closed the last seven of its 12 original stores. The company doesn't break out sales data by country, but data from Euromonitor shows that China only accounted for about .3% of Home Depot's annual net sales. Analysts say that Home Depot failed to do its homework on the Chinese market, missing the mark on consumer needs and culture.

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Why Home Depot Failed In China

Comments 685 Comments

QinZhang Wong
TAIWAN is a part of china, stupid map ,and old picture
Red Butterfly
All the reason mention is just non sense, china and u.s is really not friends from the start, past 15 yrs china become aggressive and u.s products all declined becauase the govt brainwashed its people to embrace their own china made. Thats it.
Tao Huang
0:35 shandong isn't a city. It's a province
Aaron Czechlski
i hate chinese people.. anyone who can boil dogs alive and enjoy that should be slaughtered if you cant build a house your an idiot! that says alot about chinese men right there! no wonder asians love to become lady boys.. their tiny penises and lack of skills.. they are better off as women!!
carnage6ar
because all the stuff was cheap Chinese junk lol
Jose M Fernandez
In conclusion Chinese people are the cheapest people in the world
Fuert Neigt
01:59 Look at all those Mansions, that is the dream that everyone wants, to live there
Cheng Quan
Yeah pretty much all building material, large tools are useless in Chinese apartment. If HomeDepot focused on selling small tools, screwdrivers, plants and small furniture it might still live.
Mondaris
home depot failed there because china has no mexicans to stand outside the store for people to hire.
Mitchell
If they aim for small business owners not home owners, there is a huge market, I don't even know they had a store in my city.
jack sjsjs
Maybe because its current CEO is also a right winged extremist. Probably hired a bunch idiots who didnt do their market research.
incyphe
It baffles me they even tried.
Gamer007
So...chinese are the lazy ones now?
Obi2
Selling China made in China is like trying to sell ice to Eskimos
Selken
Why Home Depot failed in China: they reuse rusted steel and other decaying building equipment
WillN2Go1
Home Depot is just as shortsighted in the US, but having put most other hardware stores out of business, and being generally more convenient than lumberyards, there's no longer many other options. I have worked construction at a professional level, but still usually end up in the Home Depot. Urban Los Angeles Home Depots are particularly atrocious. Recently, when I needed some specific metric machine bolts, I decided not to bother with the mess that is Home Depot, instead driving quite a bit longer to an old style hardware. I found what I needed in less than five minutes, it was a joy. This experience underscored the annoyance of a typical trip to HD, where I always end up muttering 'F* Home Depot.' When people talk about free enterprise and consumer choice, what needs to be included is a measure by products and services over time. Home Depot put hardware stores out of business primarily by price, not because in anyway they do a better job.
Sebastian V
F China, too many of those Nibbas
Jack Mechak
chinah #1 home depot number 2.
kenny loong
Very true for culture,
Example.
My house done by xx designer
Or
I DIY my own house
Chinaman feel designer cooler
kick S ssh
That explains why Ken Langone, co-founder of Home Depot, hates China so much! He supports Trump's trade war on China.
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A Look Inside China’s Social Why Home Depot Failed In China 1 month ago   08:07

NBC’s Janis Mackey Frayer goes inside the factories making facial recognition scanners that track the movements and communities experimenting with China’s social credit system.
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