Battery power is not only booming in the auto-industry. Battery-powered tools used for landscaping are becoming increasingly popular as many companies make the transition from gas power.
According to CNBC, Home Depot and Lowe’s have been struggling with weaker store traffic, but electric-powered outdoor tools could be the saving grace for these home improvement stores. “Home Depot posted its worst revenue miss in 20 years for the fiscal first quarter and lowered its full-year forecast, saying it expects sales to decline by between 2% and 5% this fiscal year. Lowe’s also cut its outlook and projected a drop in sales for the full year.”
However, the rise in electric powered tools is giving customers who like to “do it themselves” a reason to make larger purchases in stores.
Also, Home Depot announced big plans for the future to hopefully turn around sales. The company’s goal is to have more than 85% of its U.S. and Canada sales in outdoor power tools require energy from rechargeable batteries instead of gas by January 2029.