Home Depot Tees-Up Online Rental Reservations for Equipment

Home Depot’s new online technology lets pro or do-it-yourself (DIY) customers reserve and rent equipment online up to 30 days in advance.
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The Home Depot (NYSE: HD), which is based in Atlanta, announced on Wednesday the launch of its new “Rent Online, Pick-up In Store” technology across 1,300 rental locations.

The online platform enables pro or do-it-yourself (DIY) customers to reserve and rent equipment online up to 30 days in advance. Home Depot customers can also check the availability of equipment at various locations while making their reservations online via their phones or other mobile devices.

“This new online technology saves Pro and DIY customers time and trips to the store because they can conveniently check equipment availability and reserve what they need in advance to get in and out of our rental centers more quickly than ever,” said Richard Porter, vice president of The Home Depot Rental. “For urgent needs at the job site or in the midst of that weekend project, customers can also check availability at multiple locations and make reservations on their phone or other mobile device.”

Home Depot first trialed its online rental program in its Atlanta, Charlotte and Houston markets before making it available to rental customers across North America.

As part of an effort to gain market share in the growing rental vertical, Home Depot also announced Wednesday that it has opened eight rental centers across the U.S. since January.

In May, Home Depot reported revenues of $37.5 billion for the first quarter of fiscal 2021, an increase of $9.2 billion, or 32.7% from the first quarter of fiscal 2020. The COVID-19 pandemic spurred a large uptick in DIY home construction projects last year and into this year, which has benefitted Home Depot’s bottom line.

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