Lifestyles
The Home Depot and AARP Form Strategic Alliance to Include Merchandising and Consumer Education Initiatives
News Release
December 1, 2004
The Home Depot and AARP: "Shaping Homes. Shaping Lives."
Following the successful launch of a national hiring partnership earlier this year, The Home Depot®, the world's largest home improvement retailer, and AARP® today announced an exclusive multi-year, multi-faceted agreement expanding their relationship to include a number of educational, merchandising and marketing initiatives designed for AARP members and all customers of The Home Depot.
In addition to the special values and activities planned for AARP members, the strategic alliance is designed to provide products and information to mature Americans who wish to remain in their homes and "age in place." AARP and The Home Depot will focus on ways for older customers to achieve their goals for home modification as well as modernization.
"Our expanded relationship with AARP will empower millions of Americans to improve their homes and communities," said Bob Nardelli, chairman, president & CEO, The Home Depot. "By 2020 about 35 percent of the American population will be over age 50. We want to develop meaningful and relevant relationships with a population that will soon grow to more than 118 million."
"This expanded alliance with The Home Depot is a significant step in our ongoing commitment to enhance the AARP member experience with products, services, information and benefits of value," said William Novelli, CEO, AARP. "In addition to the employment opportunities available through the hiring partnership, The Home Depot will be providing educational materials, special programs and other benefits for our members."
Among the key elements of the expanded alliance, The Home Depot will pilot an in-store information resource center in 2005 for age 50+ adults and all individuals who are looking for ways to live independently in their homes. The special information center may include brochures and materials on such topics as universal design and home modification. The Home Depot will offer a national home modification workshop and an annual grandparents/kids workshop, both debuting in 2005.
The Home Depot will offer AARP members a number of exclusive values and savings opportunities, including an everyday 4 percent discount on all online gift card purchases.
The Home Depot will distribute future home improvement products that will eventually carry the AARP Seal of Approval. These products will meet high standards set by AARP and are designed to help mature adults maintain an independent lifestyle. The products for consideration may include bath and electrical fixtures, as well as certain types of hardware that will assist individuals to remain in their homes and live more independently. Products under consideration and additional details on the AARP Seal of Approval will be announced at a later date.
The Home Depot will be expanding its current relationship with the AARP Foundation, and also has committed to be among the highest level sponsors of AARP's annual member event—Life@50+ National Event and Expo. The Home Depot and AARP associates will join together in volunteer opportunities, including national days of service, KaBOOM!® playground builds and home modification projects.
In February 2004, The Home Depot announced the formation of a national hiring partnership with the AARP Foundation. Through that agreement, The Home Depot works with the AARP Foundation Senior Community Service Employment Program (SCSEP) to attract, motivate and retain eligible older workers as full- and part-time associates in new and existing stores across the country.
"We hear from our members that they are seeking products and services that better serve their needs and provide ways to have independence, choice and control that are beneficial and affordable for them and for society as a whole. This alliance with The Home Depot will help AARP members, people 50+ and their families. It represents a tangible opportunity for our members and The Home Depot customers to learn and find ways to live independently, and if they so desire, remain in their homes," said Dawn Sweeney, president of AARP Services, Inc.
Founded in 1978, The Home Depot® is the world's largest home improvement specialty retailer and the second largest retailer in the United States, with fiscal 2003 sales of $64.8 billion. The company employs approximately 325,000 associates and has 1,835 stores in 50 states, the District of Columbia, Puerto Rico, nine Canadian provinces and Mexico. The company recently announced the creation of a business development operation for retail expansion into China. Its 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.
AARP Services, Inc. (ASI), founded in 1999, is a wholly owned subsidiary of AARP. ASI manages the wide range of products and services that are offered as benefits to AARP's 35 million members. The offers span health and financial products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; automobile, life, and homeowners insurance; member discounts on rental cars, cruises, vacation packages and lodging. ASI's responsibilities include developing new products, managing products and services, marketing, creating and maintaining partnership and sponsorship relationships, and developing and managing AARP's award-winning Web site, www.aarp.org.
AARP is a nonprofit, nonpartisan membership organization dedicated to making life better for people 50 and over. We provide information and resources; engage in legislative, regulatory and legal advocacy; assist members in serving their communities; and offer a wide range of unique benefits, special products, and services for our members. These include AARP The Magazine, published bimonthly; AARP Bulletin, our monthly newspaper; AARP Segunda Juventud, our quarterly publication for Hispanic members; NRTA Live and Learn for National Retired Teachers Association members; and our Web site, www.aarp.org. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.