AboutStarting Semester: Spring 2024
The Home Depot
Client ProfileThe Home Depot founders' vision of one-stop shopping for the do-it-yourselfer came to fruition when they opened the first two Home Depot stores on June 22, 1979, in Atlanta, Georgia. The first stores, at around 60,000 square feet each, were cavernous warehouses that dwarfed the competition and stocked 25,000 products, much more than the average hardware store at that time.
Today, The Home Depot is the world's largest home improvement retailer with approximately 475,000 orange-blooded associates and more than 2,300 stores in the U.S., Canada and Mexico. The typical store today averages 105,000 square feet of indoor retail space, interconnected with an e-commerce business that offers more than one million products for the DIY customer, professional contractors, and the industry's largest installation business for the Do-It-For-Me customer.
Project DescriptionPro Xtra is The Home Depot loyalty program built for Pros. Pro Xtra members save time and money with exclusive benefits and business tools. The Customer Loyalty Product Management team is responsible for bringing new, innovative solutions to life for our Pro Xtra members and are looking for a team to help us design and send persoanlized offers in 2024. Today, we have the infrastructure to distribute offers to 1 to 10M members, however we are currently constrained to sending <100K per week.
In order to incent the behaviors most beneficial to growing loyalty with The Home Depot, while balancing costs, we are looking for a proposal to build AI/ML models using 0P/1P data. Success will be measured by:
-Increased offer capacity
-Increased digital engagement
-Increased sales attach/lift
-Optimized investment per offer (cost vs. sales attach)