The Home Depot Adds New Enhancements to Pro Xtra Loyalty Program

Rhea-AI Summary

The Home Depot has expanded its Pro Xtra loyalty program as of January 5, 2023, introducing new tiers: Member, Elite, and VIP. These enhancements aim to provide professional contractors with more benefits as they spend. Members can earn rewards, access an Elite Support Line, and enjoy preferred pricing. The Pro market represents a $450 billion opportunity, and The Home Depot is committed to supporting its Pros with specialized products, digital tools, and fulfillment options. The program has evolved since its 2012 launch to better serve the growing needs of Pros.

Positive

• Introduction of three new membership tiers in Pro Xtra loyalty program, enhancing benefits for professionals.
• Pro Xtra members can earn rewards that accumulate with spending, improving customer retention.
• Access to an Elite Support Line offering prioritized assistance reflects commitment to customer service.
• The Pro market represents a $450 billion opportunity, indicating significant growth potential for the company.

Negative

• None.

Expanded Tiered Program Offers Benefits That Keep Building for Pros

ATLANTA, Jan. 5, 2023 /PRNewswire/ -- Beginning today, The Home Depot has expanded its Pro Xtra loyalty program, unveiling new membership tiers and new benefits for professional contractors and builders. With three new tiers, Member, Elite, and VIP, Pros will enjoy more benefits than ever that keep building as they spend.

When customers enroll in Pro Xtra, they gain access to specialized perks, business tools to better manage and grow their businesses, exclusive sales and events in stores and online, paint rewards and more.

Every dollar spent counts toward earning rewards while also allowing members to unlock the next level of Pro Xtra benefits. As new tiers are unlocked, Pros access additional perks such as a new Elite Support Line for prioritized, exclusive assistance for business needs, VIP experiences, account management services with personalized purchase support from Home Depot experts, and preferred pricing. Additional benefits for members of all tiers will be released throughout the year.

"Pros make up about 10 percent of The Home Depot's customer base and approximately half of our sales," said Hector Padilla, executive vice president of outside sales and service for The Home Depot.  "To serve the Pro, it's about removing friction through a variety of products and capabilities – whether they visit a Home Depot store for a last-minute need on the way to a job or plan a larger purchase in advance to be delivered to the job site. We're focused on serving the Pro no matter where, when and how they choose to shop with The Home Depot."

Pros represent a $450 billion marketplace, and The Home Depot is building a unique, interconnected Pro ecosystem to help them build their businesses. The company has introduced new product offerings and capabilities for Pros, including job-lot quantities of the right assortment of brands, digital tools and personalized experiences, a variety of fulfillment options with reliable delivery and prioritization for Pros, and other value-added offerings like credit, tool rental, quote center and more.

"We're always looking for ways to enhance Pro Xtra to best support Pros as their needs grow and evolve, along with their businesses," said Molly Battin, senior vice president and chief marketing officer. "This tiered loyalty system unlocks a new experience of rewards and savings for our Pro customers with more benefits than ever, right at their fingertips."

Since the launch of Pro Xtra in 2012, the program has continued to expand its benefits and rewards with more ways to support Pros. For more information, visit www.homedepot.com/ProXtra or visit the Pro Desk at a local Home Depot store.

About The Home Depot

The Home Depot is the world's largest home improvement specialty retailer. At the end of the third quarter of fiscal year 2022, the company operated a total of 2,319 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs approximately 500,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index. The Home Depot is #17 on the 2022 Fortune 500.  

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SOURCE The Home Depot

FAQ

What are the new membership tiers in the Home Depot Pro Xtra program?

The Home Depot has introduced three new membership tiers: Member, Elite, and VIP.

When was the Pro Xtra loyalty program expanded?

The Pro Xtra loyalty program was expanded on January 5, 2023.

How does the Pro Xtra program benefit professional contractors?

The Pro Xtra program offers specialized perks, business tools, exclusive sales, rewards for spending, and prioritized support.

What is the market potential of the Pro segment for Home Depot?

The Pro segment represents a $450 billion marketplace for Home Depot.

How long has the Pro Xtra program been in existence?

The Pro Xtra program was launched in 2012.