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NRHA, 1969

AP ZIP! Z

1969 HERE WE COME!

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Volume 217 • Issue 4 • October 2019 • hardwareretailing.com

WE MAKE A ! GOOD TEAM

WEBSITE

JOIN MAILING LIST

FACEB

NRHA, 1969

A Seamless Transition Switching to Orgill was quick, easy and effective!

1969 HERE WE COME!

“Changing distributors was not a decision we took lightly, but we are so glad we made the switch to Orgill. Working with them has been the best decision for our business.” Greg Goodale l Riverhead Building Supply l An Orgill customer since 2018

10 WAYS TO BE A SHOP-LOC AL SUPERHERO PAGE 46

Why We Like Working With Orgill: • A smooth and efficient conversion process

• Programs to improve our customers’ in-store experiences

• Products and pricing that help us be successful

• Opportunities for growth in our business

1-800-347-2860 ext. 5373 • information@orgill.com • www.orgill.com/about-us Riverhead_Single Page.indd 1

9/17/19 11:12 AM

The True Cost of Not Offering Health Insurance Health insurance continues to be a key differentiator for potential employees as they consider joining you or your competitor. The NRHA Health Insurance Plan offers an affordable solution with great benefits, providing flexibility, low group rates and numerous perks.

CTICS 10 TA T YOUR OS TO BO IMAGE PRICE 4 PAGE

CLICK! “Many independent business owners struggle with the high costs of health insurance. The NRHA Health Insurance Plan provides retailers with a realistic solution to offer benefits to employees.”

Volume 217 • Issue 4 • October 2019 • hardwareretailing.com

Bob Chiesa | President & CEO | Custom Benefits Insurance Group Inc. FOR MORE INFORMATION, GO TO CBIGI.COM/NRHA-PROGRAM

Health Insurance_HouseAds.indd 71

TOGETHER WE CAN SAVE IT !

9/16/19 2:16 PM

Cover_1019.indd 1

BOOK

P! ZAP

ADVERTISE

WAS Serving Hardware,HOW Home Center & Building Material Retailers THE SERVICE...

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S TO 10 WAY M, R WIN FA CH N A PET & R 4 PAGE 5

Need a second opinion? The brand new NRHA Forum is an online space for retailers to share ideas, ask questions and get feedback from their peers across all wholesale affiliations. The NRHA Forum is free for independent retailers in North America and covers a wide range of topics, including marketing, merchandising, training, industry news and more. Log in and connect today!

JOIN THE CONVERSATION AT NRHA.ORG/FORUM

Forum-housead-2019.indd 71

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THE SIMPLE

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10 TIPS E VERY SIDEKICK SHOULD KNOW PAGE 48

MEANWHILE... THE EXPANSION WAS

SEDGE STOP™ FROM GORDON’S

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Join retailers, wholesalers and channel partners for this daylong event focused on finding growth opportunities in the changing retail landscape. To learn more about all of the keynote presentations, visit NRHA.org/SOIC.

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NRHA, 1969

AP ZIP! Z

1969 HERE WE COME!

WAS Serving Hardware,HOW Home Center & Building Material Retailers THE SERVICE...

SURV

10 WAYS TO BE A SHOP-LOC AL SUPERHERO

S TO 10 WAY M, R WIN FA CH AN PET & R

PAGE 46

4 PAGE 5

10 TIPS E VERY SIDEKICK SHOULD KNOW

CTICS 10 TA T YOUR OS TO BO IMAGE PRICE 0

PAGE 48

MEANWHILE... THE EXPANSION W

4 PAGE

CLICK!

TOGETHER WE CAN SAVE IT !

Volume 217 • Issue 4 • October 2019 • hardwareretailing.com

WE MAKE A ! GOOD TEAM

Exceeding Expectations. One Fastener Destination at a Time!

“Crescent Ace Hardware sees our customers as our most valuable commodity. As their needs changed, we saw an opportunity with Midwest Fastener to expand our fastener department and to also meet the ever increasing needs of those customers.” -Joel “Barney” Wienecke, Co-Owner -Two of Crescent City Ace’s avid Midwest Fastener fans -Steve Rosenberger, Department Manager

For your very own fastener destination, contact Glen @ 800-444-7313 x 120

800.444.7313

fastenerconnection.com

Headquarters OUR MISSION

The North American Retail Hardware Association (NRHA) helps independent hardware stores, home centers and lumberyards, regardless of wholesale affiliation, become better and more profitable retailers. @NorthAmericanRetailHardwareAssociation

136 N. Delaware St. #200 Indianapolis, IN 46204 317-275-9400 nrha@nrha.org nrha.org

@nrha_official

EDITORIAL, DESIGN AND PRODUCTION EXECUTIVE VICE PRESIDENT AND EXECUTIVE EDITOR Dan Tratensek

CHAIRMAN OF THE BOARD TJ Comstock, Northwest Hardware LLC, Billings, Montana EXECUTIVE VICE CHAIRMAN Greg Schlecht, Greg’s True Value, St. Francis, Wisconsin DIRECTORS Daniel Harris, Palos Ace Hardware, Palos Heights, Illinois; Lemont Ace Hardware, Lemont, Illinois Will Aubuchon, Aubuchon Hardware, Westminster, Massachusetts Jared Smith, Jared’s Ace Hardware, Bishopville, South Carolina David Dishke, Grand River Home Hardware, Caledonia, Ontario SECRETARY-TREASURER Bob Cutter, NRHA President and CEO IMMEDIATE PAST CHAIRMAN Megan Menzer, Newton’s True Value, Cherryvale, Kansas

MANAGING EDITOR Melanie Moul ASSISTANT EDITORS Kate Klein Todd Taber PRODUCTION EDITOR Hans Cummings SENIOR DESIGNER Lynnea Chom GRAPHIC DESIGNER Kelsey Truex WEB DEVELOPER Kevin Trehan PRODUCTION MANAGER Nancy A. Vondersaar SALES AND PRODUCTION ASSISTANT Freda Creech

SALES AND MARKETING VICE PRESIDENT OF SALES AND PUBLISHER Kevin Hohman, 317-275-9430, khohman@nrha.org DIRECTOR OF MARKETING AND COMMUNICATIONS Whitney Daulton

MEMBER SERVICES

MIDWEST REGION MANAGER Brad Lyons, 317-275-9424, blyons@nrha.org

TRAINING MANAGER AND EDITOR Jesse Carleton, 317-275-9418, jcarleton@nrha.org

NORTHEAST REGION MANAGER Lowell Huffman, 317-275-9443, lhuffman@nrha.org

RETAIL OUTREACH COORDINATOR Renee Changnon, 317-275-9442, rchangnon@nrha.org

SOUTHEAST REGION MANAGER Nick O’Connor, 317-275-9409, noconnor@nrha.org

EVENT MANAGER AND RETAIL SUPPORT Katie McHone-Jones, 317-275-9426, kmchone-jones@nrha.org

CONTACT NRHA SALES 136 N. Delaware St. #200, Indianapolis, IN 46204 Fax: 317-275-9400

CIRCULATION, SUBSCRIPTION AND LIST RENTAL INQUIRIES PHONE 314-432-7511 FAX 314-432-7665 CIRCULATION DIRECTOR Richard Jarrett Hardware Retailing (ISSN0889-2989) is published monthly by the North American Retail Hardware Association, 136 N. Delaware St. #200, Indianapolis, IN 46204. Subscription rates: Hardware Retailing (Payable in advance): U.S. & possessions $50.00 year. Canada $75.00 year. All other countries $100.00 year. (Air Mail $60.00 year additional). Single copy $7.00. The Annual Report issue can be purchased for $30.00.

EXECUTIVE DIRECTOR Scott Wright, 317-275-9417, swright@nrha.org

CANADA John Magner, 500 Queens Quay W., #101W Toronto, ON M5V 3K8 416-598-0101 x220; Fax: 416-598-9191, jmagner@yorkmedia.net

NRHA CANADA

STATE AND REGIONAL ASSOCIATIONS

POSTMASTER: Send address changes to Hardware Retailing, P.O. Box 16709, St. Louis, MO 63105-1209.

NRHA CANADA Michael McLarney, +1 416-489-3396, mike@hardlines.ca 330 Bay Street, Suite 1400, Toronto, ON, Canada M5H 2S8

MIDWEST HARDWARE ASSOCIATION John Haka, 201 Frontenac Ave., P.O. Box 8033 Stevens Point, WI 54481-8033; 715-341-7100; 800-888-1817; Fax: 715-341-4080

All editorial contents copyrighted 2019 by the North American Retail Hardware Association. No editorial may be reproduced without prior permission of the publisher.

RETAIL LEADERSHIP INSTITUTE

PACIFIC NORTHWEST REGION Ronald F. Moore, 3857 Wolverine NE, Suite 20, Salem, OR 97305 (UPS, FedEx); P.O. Box 17819, Salem, OR 97305 (U.S. Mail); 503-375-9024; Fax: 503-375-7980; AK, ID, OR, WA SOUTHWESTERN REGION Jeff Flora, 638 W. 39th St., Kansas City, MO 64111; P.O. Box 419264, Kansas City, MO 64141 816-561-5323; Fax: 816-561-1249 AR, KS, LA, MO, NE, NM, TX

Follow along with NRHA’s retail outreach coordinator, Renee Changnon, who spent a week visiting retailers in the Northeastern U.S.

@nrha_official

PRESIDENT AND CEO Bob Cutter

NRHA BOARD OF DIRECTORS

On the Road Again

North American Retail Hardware Association

EXECUTIVE STAFF VICE PRESIDENT OF FINANCE AND BUSINESS SERVICES David Gowan

COMING IN NOVEMBER

HARDWARE RETAILING | October 2019

Periodical postage paid at Indianapolis, Indiana, and additional mailing offices.

REPRINTS: Contact the Editorial Department at 317-275-9400 for price quotations. Printed in the USA.

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Contents OCTOBER 2019 | VOLUME 217 | ISSUE 4

SPECIAL ISSUE

Taking On 10

The annual 10 Issue has swooped into Hardware Retailing. These lists give you the know-how to defeat big boxes, heighten local spirit and get you soaring to success.

40 48 54

10 Price Image Boosters Check out these 10 ways you can combat a high price image. 10 Reasons to Have a Mentor Discover 10 tips you can learn from being a stellar sidekick. 10 Ways to Win the FPR Category These 10 tips will keep your FPR category red hot this winter.

Look out for 10s on the loose throughout this issue. Once you rope them all in, send your final count to Kate Klein at kklein@nrha.org for a chance to win a prize!

68 OPERATIONS

Going 24/7 Trust PRO Hardware in Indianapolis has a unique operating approach: The store is open at all hours. Learn owner Adam Taylor’s philosophy on why he developed the hardware store that never sleeps, how he makes it profitable and what his plans are for the future.

61 INDUSTRY EVENTS

A City Gardening Oasis The theme of spoga+gafa 2019, an annual international lawn and garden expo in Cologne, Germany, was City Gardening. See the sights from the event and discover the trends that are geared toward consumers who have limited green space. 4

HARDWARE RETAILING | October 2019

Store owner Adam Taylor and his two full-time employees split day and night shifts at the store.

Departments 06 . . . . . . . . . . . . . . . . . On the Web 08 . . . . . . . . . Independent Thinking 10 . . . . . . . .Taking Care of Business 14 . . . . . . . . . . . . . . . . NRHA News 20 . . . . . . . . . . . . . . . . . . . . . Trends 22 . . . . . . . . . . . . . . . New Products 32 . . . . . . . . . . . . . . . . . . Checkouts 70 . . . . . . . . . . . . . . . . Newsmakers 74 . . . . . . . . . . . . . . . . . . Last Word

On the Cover The editors of Hardware Retailing developed these quick-hit lists to help independent operators discover the powers that lie within. Illustration by Lynnea Chom

BUILD ON A SOLID FOUNDATION Build your success with a solid foundation of marketing, group purchasing power, merchandising tools and value-added services PRO Hardware knows independent businesses are vital to your local economy and to the American way of life. Our retail program supports you as an independent retailer by providing the tools to build your business while maintaining your store’s individuality and independence. Being a PRO gives you access to a $6 billion national network of hardware, farm, and lawn & garden distributors along with a dedicated merchandising and marketing team that ensures each piece of the program works together to support you and your store. PRO works to create new and innovative advertising materials to assist you in promoting your story and shows you the steps to utilize each of them to suit the personal needs of your store. PRO Hardware Distributors: The Bostwick-Braun Co. Toledo, OH • 419.259.3600 Horizon Distribution, Inc. Yakima, WA • 509.453.3181 Wallace Hardware Co., Inc. Morristown, TN • 423.586.5650 Learn more about the PRO Hardware program by contacting Shari Kalbach, Vice President, at 303.792.3000 or shari.kalbach@pro-group.com Find us online at www.prohardware.com. Vendor Partners:

On the Web NEWS

Your Top News Stories Subscribe to the weekly Hardware Retailing e-newsletter for an industry news digest. Visit TheRedT.com/1019-news for the most popular headlines.

FedEx Delivers Big News to Amazon

Opportunities Abound at Orgill’s Fall Dealer Market

Inside House-Hasson’s Summer Dealer Market

Visit TheRedT.com/subscribe to receive the e-newsletter.

EVENTS

Possibilities in Bloom If you missed your flight to this year’s spoga+gafa event, you can visit TheRedT.com/spoga-2019 to take a tour of all the highlights from this year’s leading international lawn and garden event.

40,000 visitors from 124 different countries attended spoga+gafa this year.

10 LISTS

To the Power of 10 There are more 10 lists than could fit into the pages of this super issue. From the delicious operational pointers you can obtain from a great recipe to ways you can reduce your business’s carbon footprint, these 10 lists are quick boosts to recharge your batteries and serve customers better. For all the 10 lists, visit TheRedT.com/10-lists-2019. 6

HARDWARE RETAILING | October 2019

PODCAST

Decades of Leadership Aubuchon Hardware vice president Josiah Gates is the latest guest on the “Tell Me More...” podcast. Visit TheRedT.com/pod now to hear how Gates’ early start in the home improvement industry gave him irreplaceable insight for a lifelong career of industry innovation.

CONNECT WITH US

@HardwareRetailing @hardwareretail

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Independent Thinking

Make Use of Your Team

“Our association

exists to provide you with the programs, insights, information and tools you need to succeed.

”

ere’s a simple question. If you had access to a team of retail experts who could provide you with insights into the industry, share information about what other independent retailers are doing in their stores and offer tools to help train your team, would you utilize this resource to improve your operation? Of course you would! Here’s the good news. That resource is available to you through your association, the North American Retail Hardware Association (NRHA). All you have to do is reach out. Though it’s been said before, I think it is important to drive home the point that NRHA is a 119-year-old, not-for-profit association that exists for the sole purpose of helping hardware stores, home centers and lumberyards, regardless of wholesale affiliation, become better and more profitable operators. That is NRHA’s mission, and it is one rooted in service. Our association exists to provide you with the programs, insights, information and tools you need to succeed. As a not-for-profit, we don’t have owners or shareholders to satisfy, so we can focus 100 percent of our efforts on serving our mission. While we do have to earn money to keep our lights on, our staff paid and invest in our programs, we balance these needs with our mission. The one thing we do need from you to keep NRHA vibrant and relevant to the industry is your involvement. We realize that every one of you is busy running your business, raising your family and enjoying the free time you get, but any association is only as strong as its members. Also, it is important to note that when I talk about “getting involved” in your association, I don’t necessarily mean coming to meetings or conferences (though you are more than welcome to do so). I am just suggesting that you give our programs and services a long hard look and find ways that you can use them to improve your operation. Start there. Start by reading our magazine and reaching out to our editors with ideas for stories or by telling them your story so we can share it with other retailers. Start by coming by the NRHA booth at one of the many markets our staff attends during show season. Just stop by, say hello and take a few minutes to learn about everything NRHA has to offer your business. If you have already done some of these things and you are ready to get more involved in your association, take that step. Give us a call or shoot us an email to learn about other opportunities NRHA offers, such as retailer roundtables and conferences, or even how you might be able to serve NRHA on a committee or our board of directors. The message I am hoping to get across is NRHA is your association and we have all sorts of programs and opportunities you can take advantage of to help your industry and your business. I’d encourage each and every one of you to take a small step in the coming months to engage just a little bit more with NRHA. I’m confident you will be happy you did.

Bob Cutter, President and CEO

bcutter@nrha.org

HARDWARE RETAILING | October 2019

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Taking Care of Business

It’s October, So Top That

ctober is probably one of my favorite months of the year. First off, I am totally a fall person. I love the cooler weather, the start of football season, the leaves changing and the lead up to Halloween. In addition to these fall favorites, however, another reason October holds a special place in my heart is because it marks Hardware Retailing’s annual 10 Issue. As you may notice in the pages of this issue, our editors compile their lists of operations tips and best practices. Not to be left out of this festive fall fun, I compiled my own list, so I hope you enjoy.

Dan’s List of Top 10 Frequently Asked Questions 1. Is it hard to come up with column ideas every month? I have been writing this column for more than 15 years, so the answer is definitely yes. Which is why I occasionally resort to a cheap trick like a top 10 list. 2. What’s the best advice you would give independent retailers? Hopefully, I try to pass along a little bit of advice in every column but if I had to distill it down to one thing it would be, “Stand for something as a business.”

“Independent retail,

done well, is much more creative and customer-focused than any chain offerings I have ever seen.

”

3. Did you ever own a store? No. Through my 23 years at NRHA, I have gotten a firsthand look at how much energy, courage and dedication go into owning a small business that I am pretty sure I am not cut out for it. 4. Have you ever worked in retail? Yes. I did stints working in retail security for a major toy retailer and then as a sales associate for a major sporting goods retailer. I honestly enjoyed both experiences. 5. How long were you a male model? Too long. 6. What are some of your favorite stores? Honestly, I have been to so many outstanding retail locations, it’s hard to pick just a few. I do know that independent retail, done well, is much more creative and customer-focused than any chain offerings I have ever seen. 7. How often do you travel? Between dealer markets, conferences, store visits, roundtables, client meetings and other speaking engagements, I average 100+ nights a year on the road. 8. What do you like most about working for NRHA and Hardware Retailing? There are a lot of things to like, but one thing that is very important to me is our association’s mission. The fact that we have a dedicated team of people who are all working to help small business owners is something I am very proud of. 9. What has surprised you most about this industry? That despite all the threats that have been thrown at independent home improvement retailers throughout the years, they have found ways to respond and continue to thrive in the face of competition unlike retailers in any other channel. 10. And the question I get asked most frequently is… Where did the name of your column come from? People who know me well know that I am a big Elvis fan. Taking Care of Business (In a Flash) was the motto for the “Memphis Mafia,” so when I got a column, I knew I had to have a little flash of the King associated with it.

Dan M. Tratensek, Executive Editor

dant@nrha.org

HARDWARE RETAILING | October 2019

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DO IT BEST HELPS WOOD SHED LUMBER & HARDWARE SUPPLY LOOK INWARD—AND GROW OUTWARD. Do it Best member-owners Sharona and Cecil Eiserer always thought they were solely a contractor-driven business. But through powerful research and analysis programs from Do it Best, they discovered a steady stream of do-it-yourselfers were already coming into their store. The Eiserers jumped on the opportunity to serve this untapped market. With help from our Signature Store Design and TM

Retail Performance teams, they redesigned a larger store, adding The Color Bar and introducing popular housewares TM

brands to deliver a fresh shopping experience for all their customers. Sharona and Cecil’s investment has paid off. Sales have more than doubled, and Wood Shed Lumber & Hardware Supply is now the community’s go-to DIY store while still meeting all their pros’ needs.

“We wanted to find new ways to serve our customers—it helped to learn who our customers actually are.” Sharona Eiserer Wood Shed Lumber & Hardware Supply

» How well do you know your customer base? Do it Best can help identify your strongest customers and show you how to serve them best. Call us today at 888-DO-IT-BEST (888-364-8237) or visit doitbestonline.com.

NRHA News

NRHA Launches New Course in Basic Pricing

hen consumers decide where to spend their hard-earned dollars, price is a big consideration. To help retailers boost their knowledge of pricing fundamentals, the North American Retail Hardware Association (NRHA) has developed a new online course in Basic Retail Pricing. The training course offers an overview of pricing basics, including common terms, basic calculations and pricing models. It also discusses ways retailers can improve their price image and offers best practices for conducting price audits. Developed with guidance from pricing experts Jim Robisch, senior partner at The Farnsworth Group, and John Dillon, senior vice president of pricing for Orgill, the course is

designed for any employee at any level, including managers and owners. The course combines videos, interactive segments, a pricing glossary and knowledge checks for an optimal learning experience. When they’ve finished studying all the content, students can check their learning with a 25-question test. Like other online courses available from NRHA, the pricing course can be accessed anywhere you have an internet connection, and it is compatible with mobile devices. It can be completed in about an hour. Visit nrha.org/training to learn how to become an NRHA Training Member today to access this course.

Trainer’s Corner: Basic Retail Pricing

very NRHA basic training course is developed specifically for independent operators. The modules walk trainees through the program in a logical way, which means it’s suited for any experience level. Review the modules of the Basic Retail Pricing program here. The program is available on NRHA’s learning management system. Visit nrha.org/online-training or call NRHA Member Services at 317-275-9421 to learn more.

• Module 1: Introduction to Pricing The course starts with a overview of why pricing is critical to the success of the business. • Module 2: Basic Pricing Math This module helps students understand a few pricing terms and calculations. • Module 3: Pricing Analysis This module discusses how retailers analyze their prices, including conducting price audits. • Module 4: Pricing Strategies This module assesses common pricing models and techniques. • Module 5: Communicate Your Price This module discusses the importance of creating and maintaining a price image for your business. • Module 6: How to Improve Your Pricing The final module offers suggestions on improving pricing strategies.

HARDWARE RETAILING | October 2019

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NRHA News

The No. 1 Tool for Your Business Is Here

hat tools do you use in your operation every day? For many of you, the most useful resources may be your inventory management system, your P&L statements and daily sales reports. But all of those resources reflect internal data. If there were a tool you could use to compare your operation’s performance against an industry average, you would probably add it quickly to your must-have arsenal of operations resources. For more than 100 years, NRHA has been developing that exact tool. The association collects financial data from independent home improvement retailers in the U.S. to compile the Cost of Doing Business Study. This benchmarking resource provides metrics such as gross margin, sales per square foot and other vital data points so you can determine the performance of your operation compared to industry averages. The 2019 edition of the study is now available. Access the latest data to put your business on the path to growth at nrha.org/codb.

HARDWARE RETAILING | October 2019

Start Your New Year’s Resolution Early

re you resolving to straighten out your business’s finances, learn about new products and the latest retail technology trends in 2020? NRHA can help you accomplish all that and more. On Dec. 5, retailers, manufacturers and channel partners from across North America will gather at the association’s

Indianapolis headquarters to review new proprietary research and hear illuminating presentations from progressive retailers. Review the core of this year’s conference programming here, and visit nrha.org/soic to register. Retailers attend for free, but space is limited. Sign up today and take action for your business.

Planning for Succession

Increasing Labor Costs

Preparing for your business’s future is a project every retailer should take seriously. Learn the steps you can take today to ensure the business is in good hands and safeguard its long-term survival.

Knowing the forces behind rising labor costs puts you one step ahead of competitors. By attending this year’s conference, you can position your business to capture recurring sales from professional builders.

Integrating Technology

Changing Consumer Demographics

Implementing new tech resources can streamline your entire operation. Uncover how new tech applications can streamline inventory management and improve employee productivity.

Meeting the needs of a diverse customer base is crucial for ongoing retail success. Hear how retailers are integrating new opportunities to serve multicultural customer bases.

TAKE IT TO

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October 2019 | HARDWARE RETAILING

NRHA News

10 Ways NRHA Helps You Solve the Retail Puzzle

unning a successful home improvement business requires a lot of time and energy. In addition to stocking the shelves with innovative new products, you also need to educate your staff, hone your leadership skills and find ways to stand out among the competition. That’s why NRHA is here to help you address all of these aspects of running your business. Visit nrha.org to learn more about the programs and resources listed here.

Educate your team.

Whether you’re already a member or are ready to get started, visit nrha.org/training to take advantage of a full suite of training resources today.

Develop leadership skills.

Consider enrolling new managers and supervisors in NRHA’s Foundations of Leadership program. This online course teaches managers to be stronger leaders.

For over a century, we have insured the lumber and building material industries. A long time has passed since we first started insuring the unique risks of wood-based businesses in 1895, but our core values remain the same – we are committed to bringing our policyholders the most comprehensive and current coverages along with sophisticated risk management practices to keep their businesses safe and prosperous. Put our time in the building material industry on your side. Contact us or your broker for a competitive quote. It’s about time you moved your insurance to PLM.

800.752.1895 | www.plmins.com 18

HARDWARE RETAILING | October 2019

AMERICA’S OLDEST AND LARGEST MUTUAL INSURANCE COMPANY DEDICATED TO THE WOOD PRODUCTS AND BUILDING MATERIAL INDUSTRIES. WE INSURE HARDWARE STORES, HOME CENTERS AND BUILDING MATERIAL DEALERS.

Invest in profit-focused training.

NRHA’s Retail Management Certification Program helps empower your managers, grow top-line sales, reduce turnover and more. Visit nrharmcp.com for more information.

Look at the numbers.

Interact with the industry.

Improve your company culture.

NRHA’s Vision Process is designed to build a high-functioning retail operation. Teams focus on defining company values and goals and building best practices.

Learn from the experts.

Attend the NRHA All-Industry Conference, co-located at the National Hardware Show® each May. Benefit from educational programs and research presentations at the event.

Attend the NRHA State of Independents Conference, an interactive event that delivers proprietary research, live feedback and networking opportunities.

Invest in your community.

Have discussions with peers. NRHA offers business owners the opportunity to connect with peers from all wholesale affiliations to discuss a wide variety of topics at annual roundtables.

NRHA’s Cost of Doing Business Study aggregates financial data to help home centers, hardware stores, LBM outlets and paint and decor outlets compare their operations.

The NRHA Forum lets you to ask questions, share feedback and discuss ideas with others from your phone, tablet or computer. Register at nrha.org/forum and join the conversation.

Enhance your operation.

To save you time and money, NRHA partners with a variety of service providers. From health insurance options to e-commerce tools, NRHA Business Services help you excel.

October 2019 | HARDWARE RETAILING

Trends The Blended In-Store Experience Customers’ expectations for in-store shopping have grown as e-commerce and the capabilities of other retail technologies have changed.

Applied to Retail The NRF research shows that many consumers see retail technology as a solution for in-store shopping frustrations, such as difficulty finding the products they want.

As Mark Mathews of the National Retail Federation (NRF) says in the Q&A on Page 70, consumers still want to shop in brick-and-mortar stores, but they are interested in blended, technology-enhanced experiences.

Affordable options are becoming more available to independent retailers for improving e-commerce, developing mobile apps and showing what’s in stock.

NRF reports in its Consumer View Summer 2019 study that more than 60 percent of shoppers think innovations, such as mobile apps and websites that show what stores have in stock, make their in-store shopping better.

Continuously explore your tech options so you can adapt. Keep in mind that customers increasingly want a blended experience, not an online store that functions separately from your brick-and-mortar store.

Merging Tech With Brick-and-Mortar Shopping Percentage of customers who have tried and been satisfied with the following retail technologies:

66% 69% Mobile Payment

67%

Buy Online, Pickup in Store

63%

of shoppers say technology has improved their in-store experience.

Self Checkout

52%

of shoppers say it’s important for stores to use technology to show them if a product is in stock.

HARDWARE RETAILING | October 2019

Source: Consumer View Summer 2019, National Retail Federation

New Products

“We love Rubio Monocoat

for many reasons. It has no VOCs or solvents and leaves no lap lines. It’s simple to maintain.

”

—Jody Bryan, H. Houst & Son Inc.

1 “They’re extremely versatile—

weather resistant, UV resistant, easy to use. And they’re a Montana product. We like to support local products.

”

—Mariah Joos, CEO, Nelson’s Ace Hardware

1. Natural Wood Coatings

2. Industrial Tie Down Straps

Rubio Monocoat can be applied to almost any type of wood. It uses molecular bonding technology to color and coat the wood in a single layer. It is based on natural ingredients and contains no water or VOCs, which makes it safe for users and the environment. Surfaces treated with Rubio Monocoat are easy to maintain and easy to repair.

High performance polymer tie down straps are tough, durable and UV-resistant. Titan Straps retain flexibility in cold temperatures and their textured surface allows for gripping with cold or wet hands. The polished aircraft aluminum buckle is heat-treated and coated. Its design allows the strap to thread through the buckle twice, doubling the strap’s strength.

Rubio Monocoat USA 844-937-6862 or rubiomonocoatusa.com

Titan Straps 406-556-7234 or titanstraps.com

HARDWARE RETAILING | October 2019

Retailer Picks These four products were selected by retailers like you! Share your favorite products by contacting Hans Cummings at hcummings@nrha.org.

“We use Bug-A-Salt guns in

the store almost every day on spiders and flies. They’re fun and easy to use. People love them and we sell quite a bit.

”

—Matthew Boswell, Kabat’s Ace Hardware

3 “They’re functional, practical, clean easily, cost effective and sustainable. They make great gifts! I have been using mine for months and I love them! —Jody Bryan, H. Houst & Son Inc.

”

3. Pest Control Device

4. Reusable Food Wraps

The BUG-A-SALT 2.0 is a unique, patented insect eradication device which shoots a shotgun spray of regular table salt. It is recommended for use on common houseflies, mosquitos, spiders, small to medium-size roaches, moths and other soft-bodied insects. Ordinary granulated table salt works best. It includes a 90-day warranty and a limited one-year warranty from the manufacturer.

Z Wraps are the modern way to protect your food and the environment. Reusable and all natural with cotton fabrics, these sustainable wraps are handcrafted in Massachusetts from beeswax, organic jojoba oil and tree resin. Z Wraps are available in a variety of sizes and are designed to wrap individual fruit or sandwiches or cover entire meals.

Skell Inc. bugasalt.com

Z Wraps contact@myzwraps.com or myzwraps.com

October 2019 | HARDWARE RETAILING

New Products

5. Wide Blade Tape Measure Milwaukee’s new Wide Blade Tape Measures deliver up to 14 feet of standout for extended reach and efficiency on the job site. The straight standout allows users to easily measure long distances on their own. In addition, these tapes feature an anti-tear blade coating that reinforces the first six inches of the blade, a five-point reinforced frame for drop protection, a finger stop for controlled blade retraction and a two-sided blade printing for increased readability. The Wide Blade Tape Measure also has 16 feet and 25 feet magnetic options. Milwaukee Tool 262-790-6655 or milwaukeetool.com

6. Pet Waste Disposal Mitts Ease picking up after your pet with Poo-Paws Mitts. They're made from natural, plant-based materials and are compostable. Two extended strips at the bottom of the mitt simplify tying. Poo Paws are made in the U.S. Grabbies Media 800-935-2059 or grabbies.com

HARDWARE RETAILING | October 2019

7. Garden Chimes Woodstock Chimes®, the leading manufacturer of musically tuned wind chimes, is launching the Woodstock Garden Chime™ series. These pentatonic scale-tuned wind chimes feature three decorative designs silk-screened onto the aluminum tubes. The colorful designs serve as attractive accent pieces. Each chime has a removable wind catcher, which customers can have customized with a personalized message silk-screened or engraved. Woodstock Percussion Inc. 800-422-4463 or woodstockchimes.com

8. Limited Reserve Honey Epic Honey takes their honey from the beehive directly to the jar. Their small-batch products include Texas Guajillo honey, coffee blossom honey, avocado honey and more, providing unique flavor profiles. Their apiaries donate profits from their limited reserve honey to a no-kill bee rescue operation. Epic Honey epichoney.com

Toter helps retailers and their customers with a full line of professional solutions to collect, transport, and dispose of waste and recyclables. With our product offering of two-wheel carts, tilt trucks, litter containers, and more, Toter products work as hard as you do. Our Advanced Rotational Molding™ manufacturing process results in stronger, more durable products that will make you feel like a Pro.

try.toter.com/pro

October 2019 | HARDWARE RETAILING

New Products

American Made & Profitable For Over 80 Years

9. Cast-Iron Cookware Lodge’s new line of wildlife-themed cast iron cookware features America’s most distinctive animals. Cast-iron cookware offers even heating and heat retention. In addition, cast iron is easy to care for— just hand wash, dry and rub with cooking oil. Each piece is molded and seasoned in Tennessee. Lodge Cast Iron 833-563-4387 or lodgemfg.com

10. Foldable LED Worklight

With a variety of clearly marked spring assortments, Ajax offers your customers ease of selection for their specific needs. Each assortment comes in their own unique case. Our storage cabinets and kits, provide assortments of Steel Lock, Brass Lock, Music Wire, Stainless Steel, Extension, Compression and more, each making dispensing efficient and economical. Ask for our Product Catalog which provides product descriptions and size specifications.

Toll Free: 855-966-AJAX (2529) www.ajaxwire.com ajaxwire@aol.com 119 Bloomingdale Road, Hicksville, NY 11801

HARDWARE RETAILING | October 2019

The EcoStreams LED Portable Worklight is ideal for professional contractor jobs or home improvement projects. Its light heads swivel both horizontally and vertically to illuminate large work areas or provide direct lighting for specific tasks. The patented quick-fold design makes the product lightweight and portable enough to move from room to room with ease. It folds up for easy storage. EcoStreams 909-930-6868 or naturaled.com

11. Battery Charger and Maintainer The Duracell 4 Amp Charger and Maintainer is a multistage charger that automatically adjusts to the power needs of your batteries. With 4 amps of power, it takes batteries from dead to ready to start in under 2 hours. The multistage charging protocol ensures an optimal charge on all types of 6V or 12V vehicle batteries. Its Quick-Connect cable system makes it easy to connect, charge and go. batterybiz battery-biz.com

New Products

12. Circular Saw Guide SkatePlate is a detachable rolling plate with a guide for circular saws. The rollers absorb vibration and eliminate scratching. It eliminates friction and glides over surfaces, increasing cutting speed. The traction it creates enables precision cuts with minimal cut depth loss. Circsaw Technologies Inc. 213-265-6706 or skateplate.com

13. The Original CanCooker The Original CanCooker is a versatile cooking vessel that can be used anywhere from a stove top to a campfire. Using steam, the CanCooker quickly cooks food that would otherwise need to simmer all day in a crockpot. It is lightweight, constructed of high-quality aluminum and uses a silicone-sealed lid with a latch closing system to seal in flavor. It can hold up to 4 gallons of food. CanCooker Inc. cancooker.com

HARDWARE RETAILING | October 2019

14 14. Full Color Smart Bulb For mood setting every day and entertainment value for holidays, sports celebrations and other moments, C by GE’s Full Color Smart Bulbs offer millions of color options, plus tunable whites. Schedule lights to turn on and off automatically, create lighting scenes for movies or bedtime and control multiple bulbs at once. GE Lighting 800-435-4448 or gelighting.com

THE COMPANY INC.

www.jeskecompany.com 800.677.3383

New Products

16 15

BEYOND THE CURRENT

Scan the QR Code or go to halexco.com/shows.cfm

15. Electric Log Splitter The Earthquake 5-Ton Electric Log Splitter delivers power, performance and new convenience features in a compact, user-friendly machine. The two horsepower electric motor provides quiet power, while precision gears and copper windings supply a constant splitting force. Two wheels and a handle make the unit easy to move and store. Ardisam info@getearthquake.com

16. Folding Utility Knife This heavy-duty utility knife combines strength and safety. Featuring a unique grind, it is safe to the touch, cutting materials effectively. Its convenient design features include a finger loop for safe and controlled cuts, no-tool blade change, a quick-release lock and a belt clip. Slice® safety blades never rust. Slice Products sliceproducts.com

HARDWARE RETAILING | October 2019

17 18 WITH AUTO-SHUT-OFF PROTECTION

GLOW

The Ultimate Water Removal Tool for Every Home!®

Exclusive discount when you set an appointment! 17. Molecule Super Bond Glue Originally engineered for prosthetics, KISS® Molecular™ Super Bond adapts to materials, providing flexible and rigid bonding options. It bonds wood, ceramic, metal, plastics, leather, rubber, paper, glass, porcelain, foam, silicone, PVC, vinyl and more.

KISS Glue 844-547-7458 or kissglue.com

18. Smart Water Assistant Phyn’s Smart Water Assistant installs under any sink with hot and cold water lines and a power outlet. It monitors water usage, and its patented pressure sensor senses ice crystals forming in pipes, alerting the homeowner to problems before the pipes have a chance to freeze. Mobile notifications alert homeowners to all types of leaks, and the product works seamlessly with Amazon Alexa and Google Assistant.

Scan the QR Code or go to waynepumps.com/shows

Phyn phyn.com

October 2019 | HARDWARE RETAILING

Checkouts COMMUNITY ENGAGEMENT

Serious Safety

TU Do it Center takes community safety seriously, and its annual fire safety event demonstrates that commitment. The store is in Las Vegas, New Mexico—a small rural community located in a heavily wooded area. Forest and grass fires are common. BTU Do it Center hosts its event in October, which is National Fire Safety Month, to teach local people about preventing fires and offer special deals on safety products, co-owner Shelly Sonchar says. The store invites the U.S. Forest Service, the local fire department and a chimney company to set up in the parking lot and talk to area residents about fire safety. The Forest Service brings its mascot, Smokey Bear, and the fire department brings a Dalmatian dog named Sparky. The fire department parks a fire truck for people to climb through and allows community members to don firefighting gear and enter a smokehouse that simulates what it’s like to be in a burning building. “The bottom line is to promote safety,” Sonchar says. “Our goal is to prevent fires and keep the communities safe.”

Wayne Sonchar (left) and Shelly Sonchar, in Sparky costume, are co-owners of BTU Do it Center. They invite people in their town and the surrounding area to meet local firefighters and learn about fire safety.

Looking for creative ways to engage customers? Whether it’s promotions, merchandising or special events, we cover it here. Have an idea? Contact Kate Klein at kklein@nrha.org to have your story considered for publication. 32

HARDWARE RETAILING | October 2019

THE SIMPLE

SEDGE

SOLUTION SEDGE STOP FROM GORDON’S ™

TRIANGLE-SHAPED STEM PROMINENT MID-RIB

Give your customers the simple solution to sedges and kyllingas: Sedge Stop! *State registration pending. Check with your sales representative for availability.

Checkouts

Events: Barbecue for All Dale Hardware in Fremont, California, has a large grilling department but had never hosted a multicultural barbecue event to showcase what freshly grilled food from their cultures tastes like. Marketing manager Michele Munguia saw an opportunity for an inclusive event. Dale Hardware employees served free multicultural food to a diverse crowd of nearly 500 guests and sold some new grills, too.

“Restore It - Don’t Strip It!” Restor-A-Finish is the perfect alternative for those customers who don’t want to strip and refinish. Kitchen cabinets can be restored in an hour with a can of Restor-A-Finish. It fills a niche by having the unique ability to penetrate wood finishes and enhance the luster and depth of grain. It will bring back color and luster to faded finishes and blend out scratches and blemishes with an easy wipe-on, wipe-off process.

Eliminates white heat rings, water marks, sun fade, oxidation, smoke damage, etc. Available In: Neutral, Maple-Pine, Golden Oak, Walnut, Cherry, Mahogany, Dark Walnut, Dark Oak, and Ebony Brown

~ Available Through Most Co-Ops and Distributors ~ For Wholesale Pricing Call Howard Products, Inc. 800.266.9545 Or Visit Our Website www.HowardProducts.com 34

HARDWARE RETAILING | October 2019

Come By Booth # 2810

“If people

could find an eco-friendly option that is more available, people would use it.

Customer Experience: Design Details Hartville Hardware in Hartville, Ohio, is big, but it doesn’t skimp on small details. For example, a hardware department sales kiosk has cabinets with handles made from trowels. The purpose is to offer a unique experience for shoppers, and even cabinet handles contribute to that goal, marketing director Katherine Merkle says.

”

—Jody Bryan, H. Houst & Son Inc.

Customer Service: Drinks for Change The drinking fountain and bottle filler at H. Houst & Son Inc. in Woodstock, New York, is a customer service tool that makes a statement. Owner Jody Bryan saw a need in her community for free liquid refreshment for residents. But she also wanted to set an example for other business owners by providing customers an opportunity to use reusable water bottles for the sake of being eco-friendly.

Can you pick up the kids? and get milk? and Becca has soccer. Yes dear

NOT JUST ANOTHER GLOVE. A GLOVE LIKE NO OTHER.

Our new Command Series™ line of gloves features 17 styles of fully touchscreen enabled, task specific gloves for all situations. Each model has features to ensure that your customers needs are met exactly at price points from $9.99 to $29.99 MSRP.

DEMAND THE BEST. DEMAND IRONCLAD.

POP AVAILABLE!

MENTION CODE HWR919 TO RECIEVE A DOZEN IRONCLAD BEANIES FREE ($120 VALUE)* CustomerService@ironclad.com | (844) 200-5664

With Purchase of 2019 $250 |or greater, while supplies last. October HARDWARE RETAILING 35

Having Grow Your theBusiness Right Digital withRetail Technology Technology For generations, the heart of every business was the cash register and inventory ledger. These tools were consolidated when point of sale systems automated and integrated those processes. Retail technology now extends far beyond the checkout stand and the warehouse or receiving dock. A cutting-edge retail platform touches all aspects of business including optimized ordering & inventory management, customer marketing, employee scheduling, accounting and featuring products online more prominently than Amazon. As the retail landscape continues to evolve, digital technologies have become increasingly important. Statistics show that retail sales in 2018 totaled $3.7 trillion across all categories,

dent hardware and LBM businesses the tools to keep them competitive in this evolving landscape. Paladin is a single touch-point to control all aspects of a business through innovative features and integrations.

"I access insights (in Paladin) to do what’s right for my business make it best-suited for what I need it to accomplish." Bruce Taylor, Bruce’s Hardware Order Analyst uses real-time supplier data to locate the lowest cost of each item within a purchase order and splits the PO immediately saving you money to invest in other areas of your business.

purchases are here to stay.

Chat Support provides answers exactly where you need it – directly in the software. Tired of going to the phone and waiting for answers? Industry leading, 100% USA-based support technicians are now only a couple of clicks away.

That’s why having powerful in-store business tools combined with a strong digital presence is so important. Paladin Data Corporation provides indepen-

Ez-Ad leverages a business's unique data to enhance the shopping experience with dynamic digital signage, product demonstration videos, a mobile app

by digital factors such as online marketplaces, digital advertising and marketing, and mobile searches. This trend

that shows real-time competitive price comparisons and more. Sage & QuickBooks empower small businesses with streamlined, secure and compliant bookkeeping all in a package that accountants prefer. Pointy pushes your real-time inventory and pricing to Google when a customer is searching for a product you stock near your store location. Deputy workforce management optimizes employee time, attendance collection and payroll, and allows businesses to forecast their teams for peak hours. Centralized Management for Multi-stores enables businesses to capitalize on their inventory investment with centralized management across all locations. Transferring products in real-time between stores is a breeze with automated back office and accounting adjustments. Additionally, Paladin’s mobile capabilities – Mobile2Deliver, Mobile2Checkout – and Remote Monitoring & Management (RMM) give businesses the ability to control every part of their business from just about anywhere.

TECHNOLOGY BUILT FOR YOUR BUSINESS

Intuitive Point of Sale Automate business operations and enhance customer experience 100% USA-Based Customer Support Available 24/7

Market Driven Inventory Management™ Mobile2Checkout™ Mobile2Deliver™ Centralized Management for Multi-stores

Visit paladinpointofsale.com/nrha to learn more | 541.803.6060

NRHA, 1969

ZIP! Z

AP!

HOW WAS YOUR SERVICE?

1969 HERE WE COME!

SURV

MEANWHILE... THE EXPANSION WAS

CLICK!

TOGETHER W CAN SAVE IT E !

WE MAKE A ! GREAT TEAM

5M 38

HARDWARE RETAILING | October August 2019 2019

ith a whoosh, the 10 list issue of Hardware Retailing has returned . This year, we’re exploring all sides of the independent home improvement industry with a twist . You’ll be able to fly through these 10 lists, but you’ll come away more powerful and ready to take on any retail foe . From category tips to operations best practices, each list is action-packed with a takeaway you can use to improve your business . You’ll get the inside scoop from your peers about how to show off your shop-local pride . You’ll also swoop into Hardware Retailing history for some lessons from the archives that still apply to today’s retail landscape . Finally, sharpen your skills by finding all the 10s in this issue . Send your final count to Kate Klein at kklein@nrha.org for a chance to win a supreme prize .

40 . . 10 Tactics to Boost Your Price Image 42 . . . . . 10 Ways Surveys Save the Day 43 . . 10 Ways to Conquer a New Location 44 . . .10 Blasts From the Magazine’s Past 46 .10 Ways to Be a Shop-Local Superhero 48 . . 10 Tips Every Sidekick Should Know 49 . . . . 10 Trusty Tools for Your Tool Belt 50 . . . . 10 Tips for Worldwide Success 52 . 10 Wins on Small Business Saturday 54 . . . . 10 Ways to Defeat Winter’s Wrath Get even more 10 list excitement online at TheRedT.com/10-lists-2019.

October 2019 | HARDWARE RETAILING

Tactics to Boost Your Price Image

hen competitors enter your territory, it’s tempting to wield price as the weapon of choice. However, an all-out price war rarely leaves a clear winner. You’re likely to sustain significant damage to your reputation if shoppers start to equate low price with low quality products. Your bottom line will also likely suffer, as profitability is directly tied to your pricing. The better option is to look for ways to send the message to shoppers that your prices are fair without robbing your margins. Since many consumers believe that independent retailers have high prices, it’s critical you take active steps to shape your price image if you want to show you’re competitive. An effective price image is created by a variety of factors, such as your overall pricing strategy to your merchandising. Here are 10 suggestions to create the price image that will give you the upper hand.

A ZIP! Z

LEARN MORE ABOUT PRICING

Offer Price Guarantees The more you know how to use pricing strategies, the better equipped you will be to impress customers with your prices. This month, NRHA released its new course in Basic Retail Pricing to help you understand pricing fundamentals and how to use them to your advantage. To learn more, see Page 14 and visit nrha.org/training.

Price Audit Regularly Shoppers are comparing your prices to other retailers, so shouldn’t you do the same? Price auditing (also called price shopping) ensures that your prices stay in line with what your competitors are charging and that you’re not over. You could find items where you are overpriced or undercharging.

HARDWARE RETAILING | October 2019

1 2

Perhaps the most effective way to let customers know they are going to get a fair price at your business is to offer them some type of price guarantee. Few customers will ask you to match a price, and even if you lose a few dollars on the customers who do, it will strengthen your position as a viable alternative to the big-box price leaders.

PRICE AUDIT BLIND ITEMS, TOO

While it’s natural to focus price audits on price-sensitive items, consider the whole basket of products. Most customers have an idea of a fair price, so if a customer finds out you are significantly higher on a blind item in relation to another retailer, either be prepared to defend your price or match the competitor’s price.

Call Out Price Changes

When you’re offering discounts, don’t expect customers to find them on their own. Tell shoppers about them as loudly as you can. Use signage that draws attention to the prices at the shelf level and place discounted merchandise in more visible areas, such as endcaps and dump bins. It may not take more than a few promotions to create a positive price image.

WIDEN THE SELECTION

Use point-of-sale signage that lists your competitor’s price next to yours. Even if your prices are equal, use the space to list the other services you have to offer that the other retailer doesn’t, such as free assembly, free delivery and access to knowledgeable sales associates.

In order to be competitive, you’ll likely need to drop your prices on some items. If you’re using a variable pricing model, then you will make up for that loss on other items. Loss leaders get customers in the door and are probably the first items customers will compare with your competitors. If you can win the sale on those items, then you will likely sell more products long term. A few low-priced items will go a long way in creating an overall positive price perception.

Hold Sales Events

Having a good-better-best selection helps your price image. When customers can choose the price and quality level they want, they are likely to view your prices favorably. If your selection is heavily weighted toward low-priced items, customers may think you can’t compete on price. If you only carry expensive items, shoppers might think your overall prices are higher.

Emphasize Value

UTILIZE LOSS LEADERS

A storewide sales event can strengthen your price image. This can be a good way to convert new customers, too. Hold a sales event in conjunction with a community or nonprofit event. You could expose your store to a new set of shoppers, and their first impression of you will be a sale, a positive way to start off your new relationship.

8 9

SALE

TAP THE POWER OF ENDCAPS

Endcaps are one of the most effective merchandisers for communicating price, but they must be executed properly. Maintain endcaps by rotating them regularly and include several lower priced items to appeal to price-sensitive customers.

October 2019 | HARDWARE RETAILING

Ways Surveys Save the Day

HOW WAS YOUR SERVICE?

urveys can be vital tools to get customers’ feedback, verify employee training is working and encourage positive change. Russ Haswell from Medallia, a company that helps businesses collect and use customer and employee feedback, contributes insight into how surveys can make your business a champion.

Getting baseline numbers. How many new and repeat customers are you getting? Do you know why shoppers leave without buying? If you don’t have data, you won’t know what to improve or when it improves.

2 3

Deepening customer loyalty. If you ask shoppers how you can better serve them, you communicate that you care about them, says Russ Haswell from research firm Medallia.

4 5 42

SURV

Strengthening employee loyalty. Surveying employees about problems in the business or soliciting suggestions for how to improve shows employees that they matter to you.

Starting key conversations. If you ask customers a few questions, you may be surprised by how quickly they open up with more information than you ask for. You can’t fix problems you don’t know exist.

Fighting to improve your price image. You won’t know if your pricing is competitive unless you ask. Get your customers’ thoughts using the survey at TheRedT.com/pricing-survey.

Helping staff perform better. Positive feedback encourages workers to continue doing what they do well, but also make changes based on occasional negative feedback without getting discouraged, Haswell says.

Challenging your own assumptions. Ask customers what they think of products and programs. You may discover you’re not promoting them well if shoppers don’t know about them.

HARDWARE RETAILING | October 2019

8 9

Reinforcing company values. Customer feedback, be it positive or negative, offers opportunities to talk with employees about what matters to you as a retailer, Haswell says.

Creating meaningful interactions. A paper or digital survey offers an unobtrusive way to ask every shopper how your operation is doing, not just hear from outspoken regulars.

Guiding training. Open-ended questions on a customer survey help gather meaningful feedback for the type of training individual employees need, Haswell says.

Ways to Conquer a New Location

arlier this year, Scott Ward, co-owner of the Fix and Feed family of farm and hardware stores, opened a store in Quinlan, Texas, which is the company’s fourth location in the state. While you don’t need superpowers to pull off an expansion to your business, Ward shares a few of the secrets he’s learned to make it successful.

Beware of regulations.

Don’t do too much at once.

Spend extra time planning.

Use wholesaler resources.

Study demographics.

Know permitting and zoning regulations in the town where the new store will be located. “Doing more research on the front end about what the city expects would have saved us a lot of time and money,” Ward says.

Ward and his team decided to implement a new POS system for all their stores at the same time they were opening the new location. Looking back, he says it would have been a better idea to separate the projects.

Ward had a designer on staff create a 3D model of the new building, which he used to plan shelving and the layout in the store. The extra time he spent planning made the setup process go a lot smoother.

“We spent three months picking products to stock with our wholesaler and laying out the planograms for each shelf so we had a detailed plan prior to making that first order,” Ward says.

While Ward had a general idea of what he wanted to sell in the new location, he used a demographic study provided by his wholesaler for deeper insights into customer demand for that particular area.

D WARE, LUMBER AND FEE FIX & FEED SELLS HARD STOMER BASE. TO A MOSTLY RURAL CU

Plan to overspend.

Leverage vendor relationships.

Use veteran employees in the new store.

Don’t advertise before you’re open.

Don’t cut corners, especially in inventory. You don’t want to open an understocked store. “Always plan to spend more than you think you’ll need,” he says. “You can always not use it if you don’t need it.”

The initial inventory investment for a new store is high. “Take advantage of any discounting or extended terms from your wholesaler or vendors so you can free up your cash and get better margins,” Ward says.

Ward temporarily used employees from other locations to get the new store running smoothly and teach new staff company procedures. “I would rather be overstaffed for a short time than not have the proper knowledge on the floor,” he says.

Unforeseen obstacles delayed the opening of the new store, so Ward is glad he didn’t make a big advertising splash before the store was actually open. He had the grand opening about four months after the store was operational.

Take the risk. “Being successful means taking a risk, and there’s a difference between being risky and taking a planned risk,” Ward says. “Opening a new store can be scary, but if you’re planning, you can have some peace of mind.” October 2019 | HARDWARE RETAILING

Blasts From the Magazine’s Past

ver more than a century, Hardware Retailing has adapted to the times to help independent retailers like you stay on the forefront of emerging industry trends and technology to find new paths to success. From profiles of enterprising young retailers to investigating how veteran home improvement operators have gone to market, the magazine has aimed to educate and guide the independent channel with each issue. Step into the time machine for a look back at 10 lessons from previous issues of Hardware Retailing. Learn about some aspects of retailing that have stayed true throughout the years. To read each story in full, visit TheRedT.com/hr-decades.

1969 HERE WE COME!

THE NEW MERCHANDISING OF 1919

Preparing for the 1970s Hardware Retailing’s national president J.M. Campbell discussed the importance of merchandising in October 1919. “Modern merchandising is a scientific study,” he wrote. In that issue, the versatility of lattice works in window displays is highlighted, and is still a verstaile merchandising idea.

Staying Optimistic The April 1944 issue was full of optimism. Retailers discussed the importance of planning for a time when World War II would end and GIs would come home to start families of their own and rely on home improvement stores.

HARDWARE RETAILING | October 2019

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In October 1969, independents turned their sights to the possibilities of the 1970s and explored how data would drive their business. Today, check out High Performance Retailing for a wealth of relevant, timely data to help your business prosper.

HARNESSING TECHNOLOGY IN THE 1980s

The October 1980 issue highlighted the ways technology could streamline home improvement businesses. The prevailing notion of finding new ways to save time and manage your inventory stands true. In 2019, there are countless ways to use new technology in your business. Visit TheRedT.com/pointy-sales to learn how you can grow your digital presence.

ADDING TO EACH TRANSACTION

Pro Connections Creating bonds with local contractors was a focus in March 1992. Contractors providing home renovation services are a reliable customer base that retailers should always be courting. The article recommends retailers focus on offering special prices, delivery services and customized support to gain and keep contractor customers.

A RETAILER’S CRITICAL MISSION

In March 2010, Hardware Retailing readers were reminded of the importance of ensuring each transaction is lucrative for their business. This article takes a look at common DIY projects and the products needed to accomplish each. From weatherizing the home to updating paint and repairing trouble-making toilets, the article is a great resource to ensure your staff is helping customers complete their projects successfully from start to finish.

Stepping Out, Stepping In

October 2001 explored the most important points of making a sale. From greeting customers to finally securing a sale, the article reviews critical touchpoints on the path to purchase. Review it with your staff to convert customers from browsers to buyers.

Balancing Act In April 2009, readers learned how successful retailers across the country balanced the pressures of retail excellence while raising a new family. Review the article to learn their lessons for true balance.

In August 2016, four retailers who planned to exit their business gave advice on successful succession. From working with financial professionals to finding the right buyer, this article is full of helpful advice for anyone involved with buying or selling a business.

MEASURING YOUR PERFORMANCE

In December 2018, the latest Market Measure report featured financial analysis of the industry’s players and results from the annual Cost of Doing Business Study. Don’t miss the next Market Measure report in the December 2019 issue.

October 2019 | HARDWARE RETAILING

Ways to Be a Shop-Local Superhero By Samantha Post, T & M Hardware, Bellevue, Pennsylvania

SUPPORT OTHER SMALL BUSINESSES!

n a retail world dominated by big boxes and online shopping, it’s important to remind customers that local shops still exist and brick-and-mortar stores have a vital place in this world. The shop-local movement shows the positive impact that buying from local businesses has on local economies. This list highlights some of the promotions and practices that I use at T & M Hardware and in my community to help spread the shop-local spirit. While these efforts are helpful, they will never truly be successful until every independent retailer walks and talks local business. If every person reading this article commits to all or even just a handful of these ideas, we can really ignite the movement and transform shopping local into a way of life, not only a feel-good cause reserved for the Saturday after Thanksgiving.

SHOP LOCAL

SPEND YOUR MONEY LOCALLY

Hire Local Staff It’s easy to dine locally, but it’s harder to regularly make purchases at specialty shops, the businesses that need the most support. Try to set aside money to buy something from a different shop every month. Shifting as little as $10 or $20 from a national chain to an independent business helps keep main streets thriving.

Get Involved in Online Groups There are many local groups on social media where neighbors look for items you sell. For example, our town has a gardening group my staff and I joined to open the lines of communication. Customers now ask us if we can get certain products so they can buy them locally. We also keep them updated on new products.

HARDWARE RETAILING | October 2019

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Your customers want to do business with people they know and like, so having a local staff incentivizes local shopping. Residents know and talk to many people, and word-of-mouth is priceless. Locals know the pulse of the community, which allows you to tailor operations to meet their needs so they don’t have to shop elsewhere.

SHOWCASE YOUR COMMUNITY CONTRIBUTIONS

You buy ads in local programs, donate to local organizations, sponsor community events and volunteer. But do your customers know you do this? People like to support businesses that are involved in the community because they see their money making a difference. Find ways to showcase everything your business is able to do for the community.

Promote Your Special-Order Capabilities Most customers assume if you don’t carry a product in your store they have to buy it elsewhere. However, many customers are willing to wait for orders to come in because they want to support local businesses. Make sure customers know you have access to more SKUs than you have on the shelf so they can better support you.

PARTICIPATE IN SMALL BUSINESS SATURDAY

Every November, American Express sponsors Small Business Saturday to encourage consumers to shop local businesses during the holiday season. The company does a phenomenal job promoting the event nationally, including offering free resources to small businesses, but it’s up to you to host events to promote shopping local in your community.

Co-op Advertising Advertising is expensive, but it can be more affordable split across several businesses. If all the independents in your district chip in, everyone will be able to advertise more frequently, increasing awareness of all your businesses to local and visiting shoppers alike.

REMIND YOUR CUSTOMERS ABOUT YOUR DELIVERY SERVICES

While online retailers boast about how they can offer fast shipping, local businesses have always been able to offer same-day or even one-hour delivery. Some retailers have even followed customers home on occasion to make a delivery. Promote your ability to receive products within similar time frames so customers have an extra incentive to shop your business. Serve customers well with timely receiving and buy online, pickup in store services, so when the chain stores and online retailers start offering faster delivery services, they will remember that you have already set the standard.

Show Your Love for Local While purchasing from local businesses is the best way to show your love for local, also use social media to leave reviews online. Like and share small businesses’ posts on social media, post pictures of the products you buy and share testimonials to show your support to help expand their reach, exposure and credibility in the community.

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TAKE ONE FOR THE TEAM

If there are areas where your products overlap with other local retailers, consider eliminating them to give the other retailer the business. This can free up resources to reinvest into growing other areas of your operation.

October 2019 | HARDWARE RETAILING

Tips Every Sidekick Should Know TOGETHER WE CAN SAVE IT !

business mentor can prove to be a superhero who offers wise advice, encourages you through your failures and teaches you by example. Being a sidekick to another retailer who is older, has more experience or excels in areas you don’t could be a life-changing learning opportunity. Here are 10 tips to be a top-tier sidekick.

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Treat people well. A good mentor will model in their day-to-day life how to treat people respectfully in a variety of situations, ranging from the most pleasant to the wildly mortifying.

Strategize to balance work and family. A business owner who balances time with their family can help you prioritize the people who matter most while doing the work you love.

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WE MAKE A ! GREAT TEAM

Imitate their successes. An experienced retailer can offer ideas based on what has worked for them. You may be able to imitate key practices with fewer risky experiments.

Don’t repeat their failures. A retailer with many years in the industry has likely made and learned from some giant mistakes, so ask about their biggest failures and how you can learn from what went wrong.

Handle people problems. A more experienced business owner can offer insight when you run into personnel or customer problems you don’t know how to navigate.

Be consistent. A good mentor will use the advice they give, making their heroic words match their deeds. Watch how their advice works for them and, if it doesn’t work, then ask why.

Prepare for the future. If you’ve never developed a succession plan, seek out a mentor who has. They can help you think through potential problems and offer tips.

HARDWARE RETAILING | October 2019

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Learn to prioritize. A mentor is a resource for suggestions on time management, implementing accountability for employees and delegating responsibilities.

Gain referrals and resources. A seasoned retailer likely has experience with a variety of employees, POS systems, distributors and training programs. Ask questions.

Lead your own sidekick. If you develop a time-tested relationship with a mentor, you will have a friend you can rely on and learn how to be that friend to other retailers.

Trusty Tools for Your Tool Belt CLICK!

ou probably always have your favorite hammer, your trusty jigsaw and your adjustable wrench all within arm’s reach, but don’t forget some other critical tools to help your business blow the competition out of the water. Check out this list of must-have tools to keep in your proverbial tool belt so you’re prepared to triumph over any foe.

Retailer Peers

Customers

Non-Industry Friends

E-Newsletters

Your Wholesaler

You can learn a lot from a conversation between friends, especially if they share your experiences and offer relevant advice. Stay in touch with retailers to find new ways to position your business for success.

Your customers can tell you exactly what they want from you. Take time to find out what projects they’re taking on next, what creaks and groans their homes make and let them know how your business can come to the rescue.

Sometimes an honest evaluation comes from someone on the periphery. Ask your friends outside the industry to walk your store and honestly tell you how you can improve the customer experience.

It’s hard to stay on top of trends and keep track of headlines when you’re a business operator. Luckily, Hardware Retailing combines everything into one digestible weekly newsletter. Sign up at TheRedT.com/subscribe.

If you want to bring new products into the warehouse or you need some merchandising ideas, call up your sales representative. Their job is to make yours easier, so rely on them when you need insight.

Podcasts

Industry Events

Business Advisers

Vendors

Everybody needs a vacation or at least an hour of “me time.” Subscribe to two of your favorite industry podcasts at TheRedT.com/pod to gain insight from home improvement industry leaders while you take a load off.

There are dozens of opportunities to explore the industry. Attend a conference or a trade show, such as the NRHA All-Industry Conference, co-located at the National Hardware Show in Las Vegas, May 5-7, 2020.

If you haven’t talked to your attorney or your financial adviser about your succession plan, today is the day. Call up the people who can help you make smart decisions to keep your operation growing well into the future.

Invite the people who make the tools into your store for a demo day to bring in professional customers and curious homeowners. Offering hands-on experiences with the latest tools will help you sell a few extra fully loaded tool belts.

Your Association Your association can help make many of these things come together for you. Learn more about how the North American Retail Hardware Association can help your business become better and more profitable at nrha.org. October 2019 | HARDWARE RETAILING

Tips for Worldwide Success

t’s a bird, it’s a plane—it’s thousands of globe-trotting retailers in action! March 1-4, 2020, thousands of retailers, manufacturers and home improvement channel partners will gather at the 2020 EISENWARENMESSE International Hardware Fair (IHF) in Cologne, Germany. For international attendees, it’s a chance to get a global glimpse of emerging products and compelling industry research that can help their businesses capture new sales and raise customer engagement. Uncover 10 ways attending the 2020 EISENWARENMESSE International Hardware Fair this March in Cologne can help you bring new opportunities to your business.

Koelnmesse Photo Credits: Intro , 9: Thomas Klerx, 3,7: Hanne Engwald, 5: Harald Fleis sner

THOUSANDS OF EXHIBITORS

Explore the dSummit When you attend IHF, you’ll be one of the first to see products from 2,700 vendors representing nearly 60 countries. No matter what product category you want to strengthen, visiting IHF is a great way to discover new hardware, outdoor living products and technology before your competitors.

Visit German Stores While you’re abroad, stop by local home improvement stores to see how your international counterparts do business. Take the chance to gather world-class merchandising ideas and see European retail in action during your visit.

HARDWARE RETAILING | October 2019

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The 2020 IHF will focus on storage, logistics and e-commerce opportunities. At the dSummit, analyst Michael Atug will explain how e-commerce provides new opportunities for retailers to boost online sales while welcoming new customers.

INTERNATIONAL NETWORKING OPPORTUNITIES

When you visit, you’ll meet independent home improvement professionals just like yourself. You’ll get insight into how retailers are thinking globally and acting locally to institute new processes and products at their operations. The connections you make at IHF can bring new possibilities to your business year after year.

Walk the Boulevard New manufacturers will present their innovations to major manufacturing companies in hopes of securing a distribution deal on the DIY Boulevard. You can take a look at their innovative products and get a sneak peek at the gadgets and gizmos that are sure to capture your customers’ interest and set your operation apart.

EDUCATIONAL SESSIONS

There will be plenty of educational sessions devoted to exclusive industry research and emerging trends at the 2020 IHF event. Presented by a dynamic lineup of international home improvement analysts, each informational session will educate IHF attendees on shifting consumer preferences, new technological opportunities and the ways stocking an innovative inventory can boost sales and gain new customers.

HARDWARE’S HISTORIC HERITAGE

Go International IHF dates back more than 70 years, and with each year, the event has grown and adapted to meet retailers’ changing needs. When you visit IHF in 2020, you can browse historic memorabilia of the event’s past and see how it is delivering modern solutions.

Meet Global Allies IHF brings in visitors from almost 150 countries, so you can meet with the home improvement industry’s movers and shakers. Ask questions, start conversations and make new friends while you’re visiting.

IHF occupies more than 1.7 million square feet in Koelnmesse, the convention center in Cologne. The event presents an overview of the retailers, manufacturers and partners who strengthen the international channel. Every space is distinct, giving visitors motivation to see as much as they can.

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IHF MAKES IT EASY

IHF offers a full range of trade fair services to help guests get the most from their visit. From travel planning to entertainment and international shipping logistics, IHF wants guests to succeed on a major level.

October 2019 | HARDWARE RETAILING

Wins on Small Business Saturday

he holiday shopping season will be here before you know it. On Nov. 30, Small Business Saturday will draw millions of shoppers to independent retailers in their communities— and you won’t want to miss out. Here are 10 ways to capitalize on Small Business Saturday in your operation.

Bill Brunelle Co-founder, Independent We Stand Independent We Stand (IWS) educates communities about the benefits of supporting locally owned businesses. IWS inspires small business owners to celebrate their locally owned status and helps consumers understand their value. IWS is sponsored by STIHL, Do it Best Corp. and PPG Paints.

SHOW YOUR COMMUNITY SPIRIT AND YOUR SHOP-LOCAL PRIDE ON SMALL BUSINESS SATU RDAY.

CUSTOMIZE YOUR CREATIVE

Make It Tasty American Express, which sponsors the annual event, offers customizable promotional materials for small businesses to use during the event. Visit the Shop Small® Studio online to explore options and create materials easily. Display them in your store leading up to the event to inform your customers you’ll be participating.

Get Crafty The weekend after Thanksgiving is known for long lines and stampeding shoppers. Let your customers slow down with a seasonal experience like wreath-making or decorating ornaments. These activities will bring customers to your store and send them home with memories of your business.

HARDWARE RETAILING | October 2019

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Attract customers to your store and thank them for stopping by on Small Business Saturday with a seasonal treat. Offer hot chocolate and cookies to visitors, or team up with a local food truck to offer something more substantial. Treating your customers to a tasty bite will spice up the celebration. It’s even stronger if you can rope in a local eatery.

BECOME A NEIGHBORHOOD CHAMPION

American Express offers robust resources to retailers who volunteer to become Neighborhood Champions. They do more than prepare their stores for the big day. They commit to rallying the neighborhood in celebration by planning fun events, coordinating a campaign with multiple businesses and drumming up enthusiasm among residents.

Be Social

Much holiday shopping has moved online, and so can your Small Business Saturday celebration. While in-store celebrations remain essential, your business can leverage shop-small enthusiasm to encourage online engagement. The buzz generated from sharing the shopping event and related content on social media can turn online fans into brick-and-mortar customers.

PROMOTE OTHER BUSINESSES

Holiday shopping is about giving, so invite customers to give back while they’re shopping. Donate a portion of your profits to a local charity or invite them to set up a booth in your store. Connecting your business to a worthy cause helps customers feel good about their purchases.

You can—and should—go big for Small Business Saturday, but the celebration should be true to your business’s local and independent nature. Early-morning openings and flash deals may work for the big boxes, but customers expect a different experience from small businesses. Maintain your everyday commitment to providing tailored customer service and expert advice, even on the busy days, and craft a celebration that reflects your local character.

Join a Local Campaign

If you can’t commit to serving as a Neighborhood Champion, you can still participate. Help neighboring shops create a festive ambience or work together to make a local shopping guide for the businesses on your block. Effective cross-promoting helps you expand the impact of your celebration and reach more customers.

Give Back

STAY SMALL

To stay true to your local character, look for a local campaign you can join. Many Main Street organizations or buy-local groups will organize Small Business Saturday campaigns and holiday celebrations for their downtown districts. When your community kicks off its holiday season, be there to support the fun.

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REFLECT ON THE EXPERIENCE

The holiday shopping season is busy, but taking time to reflect helps you make valuable observations. Small Business Saturday has grown exponentially in recent years, and setting yourself up for future success can help your own celebration grow, too.

October 2019 | HARDWARE RETAILING

Ways to Defeat Winter’s Wrath AT RUNAMUK ACRES, OWNER SAMANTHA BURNS STARTS WINTERIZING HER PROPERTY IN LATE SUMMER.

o matter where you do business, Old Man Winter will soon be knocking on your door. Whether that means a few nights with lows in the 60s or dozens of feet of snow, learning how you can help customers winterize their farm, pet and ranch (FPR) investment could be the perfect way to ensure sales stay burning all throughout winter. Hardware Retailing spoke to Linda Clark, owner of Clark’s Ag Center in Turbotville, Pennsylvania, to learn how she helps customers prepare their homes and farms for winter weather and why retailers across the country should make FPR winterizing products a priority for their own businesses. In addition, Samantha Burns, owner of Runamuk Acres Conservation Farm, a bustling apiary and small farm in New Portland, Maine, gives tips on the products she uses to winterize her property against freezing temperatures.

Connect to your community. For Clark, answering customers’ FPR questions is critical. She connects customers with local organizations to be sure they have the information they need to safely winterize FPR operations.

Scope out winter FPR options.

Tailor it to the animals.

Offer different FPR products as winter approaches. Scope out your wholesaler’s markets to learn about new items that can help animals, pets and even farmers brave the winter chill.

Burns says each animal requires its own care plan as temperatures drop. Field a survey of your customers to learn what they’ll need from your operation season after season.

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HARDWARE RETAILING | October 2019

Understand the FPR bond. Clark says retailers must understand how much customers care for their pets. “There’s more of an emotional connection to the animals for hobby farmers,” she says.

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Ways to Defeat Winter’s Wrath

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Plastic tarps are crucial. At Runamuk Acres, Burns says she is always finding new ways to use tarps to safeguard her sheep, bees and chickens. “Tarps are so versatile, you can use them for whatever you need,” she says.

Heated water bowls protect animals. For some retailers, Burns says, heated water bowls can be an easy way to ensure animals’ water supply doesn’t freeze as temperatures drop, keeping them healthy and hydrated.

Heat lamps can be lifesavers. Burns says heat lamps play an important role in helping farm animals survive the winter. From preventing ice to keeping chicks perky and plucky, heat lamps can be a lifesaver for animals.

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HARDWARE RETAILING | October 2019

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Aluminum trash bins have amazing uses. Burns says one of the simplest FPR products she chooses are aluminum trash bins that double as livestock feed containers. They keep rodents from nibbling the food and are easily transportable.

Straw and mulching are versatile. Burns says every FPR shopper has a use for straw and mulching, but in winter they can reduce moisture in enclosures and help animals stay warm even as temperatures fall.

Organic ice melt wins. Stocking organic ice melt can be an easy way to net sales from customers who are looking for safe alternatives from harsh chemicals.

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WHITEPAPER

5 Inventory Management Pitfalls to Avoid How to improve your inventory management and positively impact the bottom line. Many small to midsized businesses (SMBs) struggle to compete with their big box counterparts because they have fewer resources including personnel, technology, budget, and time. That said, making your resources as effective as possible is extremely important.

Surprisingly, many SMBs do not have inventory recordkeeping policies in place including regular inventory counts, maintenance, and documentation. Results from a recent ECI Software Solutions’ customer “Warehouse Management Woes” survey shows that 53% of small to mid-sized businesses conduct manual inventory counts at least once a quarter and 50% of respondent have challenges counting or reconciling inventory.

Inventory management is one of the most vital areas of any business yet often needs the greatest improvement. Struggles in this area can lead to a variety of problems including poor customer experience, lack of visibility across departments, low inventory turns, out-of-control labor costs, decreased profitability, and ultimately, business failure.

Accurate inventory recordkeeping enables SMBs to effectively balance inventory levels to ensure the proper stock is on hand. The benefits include:

Here are five inventory management pitfalls that many inventory managers face and how successful businesses can streamline purchasing and inventory processes to drive efficiency, eliminate errors, and reduce costs. 1.

Inventory record inaccuracies: Many inventory processes involving physical counts, or disconnected spreadsheets with different data systems, can never really be trusted. Are missing items the result of employee negligence, fraud, or double shipments? Is there a logistics problem tracking the flow of inventory from purchasing to receiving to your store shelves? Important questions constantly go unanswered, and with little time to manually analyze the data, costly issues can drag on for months or even years.

• • • • • • • • 2.

Better customer service Reduced operating costs Less stocking labor effort and costs Accurate product receiving information Consistent on-time deliveries Accurate data for financial records Maximized retail shelf space to drive sales Efficient turn analysis

Inefficient storage, display, and receipt processes: Since many SMBs have limited time, personnel, and financial resources, inefficient storage, display and receipt processes are common. This pitfall is often the start of other costly mistakes including difficulty accessing merchandise, overordering, and missing stock.

To resolve this challenge, a business must have a documented process that holds personnel accountable for oversight and implementation. There needs to be clear instructions for each of the following: • • • • • • • 3.

Employee interaction with inventory Storage of material Storage locations Material/merchandise handling Safety guidelines Reporting/entering data Handling damaged inventory

Excess inventory: Holding excess stock or reordering products at at the wrong time contributes to some of the biggest overhead cost drivers for SMBs. Inefficient inventory control leads to wasteful spending. If cash is tied up in excess inventory, the business can’t invest in other areas that provide ROI.

Accurate inventory and sales information is essential to an accurate purchasing process, as well as understanding the best opportunity for future growth. Accurate inventory levels are also essential for successful marketing and advertising initiatives, as well as reducing the need to drastically lower prices to quickly sell excess stock.

Like what you’ve read so far? Continue reading this article to learn about the remaining two pitfalls your company may be facing and how leveraging technology can help simplify the purchasing process and improve efficiency. www2.ecisolutions.com/inventory

Stop Counting, Start Selling! Hardware inventory weighing you down? You could be making one or all of these 5 inventory management mistakes!

Get the complementary ebook at www2.ecisolutions.com/inventory

www.ecisolutions.com/rocksolidmax | How business gets done.

BEGIN BY DETERMINING WHAT APPEALS TO YOUR CUSTOMERS. Successful marketing depends on a deep understanding of customer needs, desires and expectations. To this end, HIRI conducts exclusive research that empowers our members with knowledge of home improvement customers, home improvement categories and market dynamics. A member-driven, nonproﬁt organization, we’re dedicated to our members’ success in the home improvement space. We’ll help you know what your customers want, when they want it and why they want it — enabling you to get every initiative off to the right start and achieve greater success.

INSIGHTS

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NETWORKING

Joint HIRI today to access Home Improvement insights by going to hiri.org.

By Melanie Moul, mmoul@nrha.org

Gardening in the City spoga+gafa 2019 Highlights Urban Gardening Trends

or the first time in the event’s history, spoga+gafa featured a theme: City Gardening. More than 2,000 exhibitors brought their products to Cologne, Germany, Sept. 1-3 to show how they cater to people who are committed to creating green spaces in urban areas. Whether your customer wants to fit dozens of houseplants in a one-bedroom apartment in Brooklyn, New York, or care for a container vegetable garden on a small patio in Austin, Texas, the trend of curating live goods in urban spaces is on the rise. Hardware Retailing was on-site to explore the four spaces of the show floor: Garden Living; Garden Creation & Care; Garden BBQ; and Garden Unique. Read on for insights into each segment, and see more at TheRedT.com/spoga-2019.

Photo by Koelnmesse/Thomas Klerx

October 2019 | HARDWARE RETAILING

Garden Living The largest segment of the show floor was Garden Living. Attendees explored products in this category across seven halls in the convention center. As consumers are spending more time in their outdoor spaces, they want to make them an extension of their living spaces. To meet their needs, the furniture, decor and leisure products continue to become more diverse to appeal to broad preferences. Many outdoor living collections could belong inside the home as well. The products in Garden Living included an extensive selection of outdoor furniture and decor. But attendees also saw trends in outdoor sporting goods, from yard games and playground equipment to endless pools and unique container gardening inspirations.

HARDWARE RETAILING | October 2019

Urban Gardening for Everyone According to a 2018 report from the United Nations, 82 percent of North Americans live in urban areas, and population density in cities is expected to increase considerably by 2050. Consumers who move into cities will continue seeking options to create or enhance green spaces. spoga+gafa 2019 vendors recognized the need to serve this growing customer base now to prepare for the future.

Garden Creation & Care You are likely the expert for many of your customers when it comes to establishing and maintaining their green spaces, regardless of how large or small their yard or garden may be. The Garden Creation & Care segment of spoga+gafa occupied two halls and two passageways for attendees to explore garden innovations and solutions. Attendees discovered trends in garden hand and power tools, with many opportunities to test the products. In addition to equipment, attendees also had the chance to delve into the science of gardening. Many exhibitors featured innovative soils, pest management products and other resources that can be critical for the care and maintenance of small garden spaces.

Photo by Koelnmesse/Oliver Wachenfeld

Inspirations Down the Boulevard The convention center that hosts spoga+gafa each year is about 1 mile long from end to end. In the main passage that connects the halls, called the Boulevard, spoga+gafa vendors set up inspiration spaces like this POS Green Solution Island. Attendees stepped inside these spaces to see how they can use live goods, containers and garden accessories to enhance their POS areas.

Photo by Koelnmesse/Oliver Wachenfeld

October 2019 | HARDWARE RETAILING

Garden BBQ Two halls of the convention center featured wall-to-wall grills and grilling tools in Garden BBQ. Attendees explored traditional charcoal and gas grills alongside the latest trends in outdoor kitchens, innovative grilling accessories and all the pieces that make an outdoor space complete.

Exhibitors fired up their products so attendees could have a firsthand experience of the results from the products. Each day, chefs from BEEF! magazine presented cooking demonstrations in a complete kitchen in the center of the hall, featuring a variety of foods and cooking techniques.

Photo by Koelnmesse/Oliver Wachenfeld

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Walk Through Outdoor Kitchen World The path through Garden BBQ led attendees through the hall and outside for an extended grilling and outdoor kitchen experience. Exhibitors set up grilling stations outside to provide even more taste-testing opportunities for attendees. The space also served as another option for lunch and a networking spot for attendees and exhibitors.

October 2019 | HARDWARE RETAILING

Garden Unique Trends tend to move from east to west, making it to the U.S. and Canada months—even years—after a concept or fashion statement has been popular in Asia and Europe. Exploring an event like spoga+gafa can give you insights into what the trends may be in the future so you can plan ahead.

Photo by Koelnmesse/Hanne Engwald

HARDWARE RETAILING | October 2019

One of the primary reasons North American attendees go to spoga+gafa is to see the trends that are already popular in Europe and around the world. In Garden Unique, attendees examined high-end outdoor living trends, which focused on outdoor furniture, from patio sets to lounge pieces.

Finding Furniture Trends A highlight in Garden Unique was the Trendshow Outdoor Furniture & Decoration segment of the hall. In addition to trends in urban gardening, attendees found trends in sustainable, ergonomic, minimalist and smart designs for garden furniture and accessories. As with many of the products found on the show floor, these products captured the breadth of the consumers who are seeking these solutions.

Photo by Koelnmesse/Thomas Klerx

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“Customers love that we’re open 24/7 and love to talk about it. One reason we do it is because it reduces the friction of people wondering if we’re open.” —Adam Taylor Trust PRO Hardware

HARDWARE RETAILING | October 2019

Began Operating a 24/7 Store

rust PRO Hardware in Indianapolis has an unusual claim to fame in the home improvement industry: 24/7 hours. Owner Adam Taylor opened the store in 2012 in a 3,200-square-foot space. Early on, he experimented with operating between 5 a.m. and midnight. He noticed over time that customers were showing up later and later. Many of them were people with late-night plumbing and electrical problems, but others were nurses

and firefighters who stopped in after working night shifts. Some of Taylor’s contractor customers work on projects at coffee shops and large retail stores, where they can’t begin working until the businesses close for the night. They asked Taylor what he thought about keeping the store open 24 hours a day to serve them during their night work shifts. As an experiment, Taylor began testing later hours without advertising the change. He decided that store traffic

and higher transaction sizes made 24/7 operating hours worthwhile. Taylor sees fewer customers at night, but their purchases are often larger. His store’s average daytime ticket is $15, but that bumps up to a $100 average after 9 p.m. Taylor has two full-time employees. Between the three of them, they are able to keep the store staffed at all hours because the operation is small. Especially at night, the store only needs one employee on duty at a time. “It’s a little bit easier to do because it’s a small store,” Taylor says. He started out by telling customers about the around-the-clock hours and news spread. Next, he posted signs in the store and changed the operating hours online so late-night Google searches would display his store in search results. Now, the 24/7 service hours get people to notice the business, which has gained a reputation for being the hardware store that’s never closed. “Customers love that we’re open 24/7 and love to talk about it,” he says. “One reason we do it is because it reduces the friction of people wondering if we’re open.” Taylor puts in most of the night hours, working more than 100 hours

a week. His employees occasionally like the change of pace of working a long night shift, but those shifts are Taylor’s specialty. He’s made a small living area in the back of the store, and his dog lives there full time. He isn’t married and doesn’t have children, which make working the hours he puts in possible. “I don’t sleep much. I’m young,” Taylor, 36, says. “I have a lot of energy. I don’t want to do it forever. I’m making the sacrifice now to establish the business while I’m still young.” Taylor plans to add to his staff and expand to multiple locations so he will eventually spend less time at the store. Trust PRO has a small salesfloor, but it’s crammed with products from top to bottom, Taylor says. His product mix and overnight hours are exactly what many of his pro customers wanted. The hours also turned out to be what DIY customers need—even if they live 90 minutes away—when they have urgent plumbing or electrical problems at night. “Sometimes it’s hard to get people to notice a small store. This sets us apart,” Taylor says. “There are advantages to staying so small that you can deal with customers on a very personal level.”

Adam Taylor Trust PRO Hardware Indianapolis

Problem Resolved Customers were buying supplies at Trust PRO Hardware after getting off second-shift jobs or discovering late-night plumbing and electrical problems. Contractors asked for 24/7 hours because they needed supplies for overnight projects at big-box stores. Other customers were confused about what Trust PRO’s hours were because other home improvement stores tended to stay open until 10 p.m. Other independents had a reputation for closing in the early evening.

Key Takeaway “Customers will tell you what they want. They’ll say what you’re doing right and what you’re doing wrong. Keep listening and adapt. We’re part of the community, and they trust us. People know we’re going to be here.”

Future Plans Trust PRO Hardware moved to a new 4,000-square-foot store location in September. Once Taylor’s team and the customers adjust to the change, Taylor wants to consider expansion. He plans to open similar stores in other suburban communities in the area. Taylor believes growth will reduce the need for his constant oversight. Adam Taylor began operating Trust PRO Hardware on a 24/7 schedule in response to increasing night traffic at the store and requests from professional customers.

October 2019 | HARDWARE RETAILING

Newsmakers

Expert View: No Apocalypse

Upcoming Events

October

ark Mathews, vice president of research development and industry analysis for the National Retail Federation, answered questions from Hardware Retailing about what recent store closings and openings mean for the retail industry.

3-6

Hardware Retailing (HR): Is the number of retail stores decreasing or increasing in the U.S.? Mark Mathews (MM): Big picture, we certainly see the number of stores growing. When well-known retailers close stores, there’s almost a psychological factor. People love retailers and when one goes out of business, there’s a building impression that we’re in a retail apocalypse. But the data says something completely different. More stores are opening than closing. In fact, for every retailer closing stores, five retailers are opening stores. Every segment of retail, including department stores, has more companies opening stores than closing.

True Value Fall Reunion Chicago

9-11 Wallace Hardware Co. Inc. Fall Dealer Market Pigeon Forge, Tennessee

15-16 Pet Connections Expo Edison, New Jersey

Retailers need to view online transactions and in-store shopping as one experience. It’s all one blended thing.

18-21 Do it Best Fall Market Indianapolis

24-26 House-Hasson Fall Market Sevierville, Tennessee

HR: Which retailers are finding success? MM: I think you’re seeing a broad spectrum of different types of success stories. Retail has evolved multiple times throughout its history, driven by shifting consumer preferences, new technology and demographic trends. To be successful, according to Wall Street, you have to grow your same-store sales. However, the growth of e-commerce is forcing retailers to find an appropriate balance between physical and digital channels and to rationalize their store footprint. Stores are not just places to transact. They are places to engage with your customers and deliver a positive customer experience. HR: Do you foresee consumers continuing to value brick-and-mortar store experiences? MM: Just as banks didn’t close because of ATMs, stores aren’t closing because of online sales. Buy online, pickup in store (BOPIS) and in-store pickup are good for brick-and-mortar stores. Using old metrics to measure the value of the store is going out the window. Retailers need to view online transactions and in-store shopping as one experience. It’s all one blended thing. Customers are becoming multichannel shoppers. I think these old notions of what a store should be don’t apply now. Gen Z likes to be in stores as much as anyone else. It’s this blended experience, and small stores are starting to have the resources to do what the big stores are doing with technology.

Mark Mathews is vice president of research development and industry analysis at the National Retail Federation. He is responsible for helping develop, evaluate and direct the research initiatives for the trade association. He has spent more than 20 years working in research in a variety of roles in the U.S and the U.K. Most recently, he headed the Market Intelligence Group at the World Gold Council.

HARDWARE RETAILING | October 2019

November 10-12 STAFDA Annual Convention & Trade Show Nashville, Tennessee

19-21 Distribution America & PRO Group Inc. 2020 Executive Planning Conference St. Petersburg, Florida

December 5 NRHA 2019 State of Independents Conference Indianapolis

Find more events online at TheRedT.com/calendar. To have your event added, contact Kate Klein at kklein@nrha.org.

“Many independent business owners struggle with the high costs of health insurance. The NRHA Health Insurance Plan provides retailers with a realistic solution to offer benefits to employees.” Bob Chiesa | President & CEO | Custom Benefits Insurance Group Inc. FOR MORE INFORMATION, GO TO CBIGI.COM/NRHA-PROGRAM

Newsmakers UNITED STATES Opportunities Abound at Orgill’s Fall Dealer Market Retailers made discoveries at the Orgill Fall Dealer Market. Across the show floor, attendees found multiple product showcase sections, a model store, U.S. and Canadian promotional areas, thousands of items from a variety of categories and many buying opportunities. The show’s model store, Four Seasons Hardware, covered more than 12,000 square feet and highlighted a number of categories, including paint, hardware and fasteners, hand and power tools and outdoor living.

The market’s concept store offered retailers ideas for implementing space-saving techniques and single-queue checkout lines.

Ace Hardware Acquires Home Repair Franchise

Home Depot, Lowe’s Announce Q2 Financials

Ace Hardware Corp. has completed the acquisition of Handyman Matters, a home repair, maintenance and improvement services franchise based in Denver. Handyman Matters will become Ace Handyman Services and operate as a new stand-alone subsidiary. The franchise currently consists of 57 locations in 23 states offering home improvement services.

Home Depot has its second-quarter 2019 financial results, reporting second-quarter sales of $30.8 billion. This figure represents a 1.2 percent increase over the same period in 2018 and a 16.6 percent increase over the company’s first-quarter figures. Lowe’s announced net earnings of $1.7 billion in the second quarter of 2019, for an 8 percent decrease over its second-quarter 2018 earnings.

Merchandisers Quick-Release Grease Coupler Display Kit Patented Design

LX-1403

LX-1403-XL

Free Counter Display!

LX-4851

4’ Merchandisers - Fast Turning Products!

Grease Gun & Acces. LX-401

Pumps & Acces. LX-402

Lumax.com

Info@Lumax.com

HARDWARE RETAILING | October 2019

Fluid Management LX-403

844.660.6876

Ace Hardware Reports Q2 Revenue Growth Ace Hardware Corp. reported revenue of $1.7 billion in the second quarter of 2019, an increase of 6.3 percent year over year. New stores and e-commerce helped fuel the growth, CEO John Venhuizen says. The co-op’s income for the period was $53.8 million, a decrease of $1 million from the second quarter of 2018.

Ace Hardware Corp. saw sales increases in all categories, including grilling and electrical.

CANADA

Home Depot Begins Rolling Out New Signage in Its Canadian Stores

Rebates on Energy-Savers Benefit Retailers

Home Depot Canada has worked with its U.S. parent company and agencies WD Partners and BGI to develop a new concept for its store signage. Intended to be clean, simple and intuitive, the new signs are part of a goal to improve customer experiences by making navigation of the stores easier. The new signs also create a consistent look and feel in Home Depot’s signature orange color. With the signage, customers follow an icon-based wayfinding system to get from place to place. The new signage has the added benefit of using images as a visual way for customers who don’t speak English to identify store departments.

A new program from the government of Ontario will enable consumers to garner significant savings on energy-saving products, while giving retailers an edge to sell a range of related items. Catherine McKenna, a member of Parliament and minister of environment and climate change, announced the launch of the Energy Savings Rebate program recently.

Ontario will provide retailers $200 million to offer up to 25 percent off the price of energy-saving products, such as washing machines, dryers, refrigerators and dehumidifiers.

Want to Read More? For the full story on these briefs, head over to TheRedT.com/1019-news. To read the Canadian briefs, visit hardlines.ca/hardwareretailing. For the latest independent home improvement news, interviews, trends and videos, visit hardwareretailing.com.

AD INDEX Ajax Wire Specialty Co. ............................................ 26 www.ajaxwire.com; 855-966-2529

Howard Products Inc................................................ 34 www.howardproducts.com; 800-266-9545

Poo-Pourri ................................................................. 11 www.poopourri.com; 972-818-8200

Allway Tools ............................................................. 16 www.allwaytools.com; 718-792-3636

Impress Art............................................................... 19 www.impressart.com; 631-940-9530

Pro Hardware ............................................................. 5 www.prohardware.com; 303-792-3000

Ancra Cargo.............................................................. 65 consumer.ancracargo.com; 800-626-8353

IPG............................................................................ 17 www.itape.com; 888-898-7834

Rust Patrol................................................................ 28 www.rustpatrol.com; 803-396-8400

Big Green Egg .......................................................... 21 www.biggreenegg.com; 800-793-2292

Ironclad Performance Wear Corp............................. 35 www.ironclad.com; 844-200-5664

Sashco ....................................................................57 www.TryCleanz.com; 800-767-5656

Channellock Inc. .......................................................BC www.channellock.com; 800-724-3018

Jeske Company Inc. ................................................. 29 www.jeskecompany.com; 800-677-3383

Sika ........................................................................... 64 www.sika.com; 201-933-8800

Coles Wild Bird Products Co. ..................................... 3 www.coleswildbird.com; 877-426-8882

Lumax....................................................................... 72 www.lumax.com; 844-660-6876

Soudal....................................................................... 16 www.soudalusa.com; 877-873-8739

Do it Best Corp.................................................... 12-13 www.doitbestonline.com; 888-364-8237

Midwest Fastener ............................................... IFC, 1 www.fastenerconnection.com; 800-444-7313

Stihl............................................................................. 9 www.stihlusa.com/dealers; 800-467-8445

Dutton-Lainson Company.........................................67 www.dutton-lainson.com; 402-462-4141

Mr. LongArm ............................................................ 24 www.mrlongarm.com; 800-821-3508

Stillwater Designs .................................................... 56 www.kicker.com; 405-624-8510

ECI Solutions .......................................................58-59 www.ecisolutions.com; 800-588-5128

NRHA Health Insurance Plan ................................... 71 www.cbigi.com/NRHA-PROGRAM

SureCan .................................................................... 27 www.surecanusa.com/dealer; 801-827-0500

Epicor........................................................................67 www.epicor.com; 888-463-4700

NRHA State of Independents Conference ............... 55 www.NRHA.org/SOIC

Wastequip ................................................................ 25 www.toter.com; 800-424-0422

Franmar .................................................................... 66 www.franmar.com; 800-538-5069

Orgill Inc. ............................................................76-IBC www.orgill.com; 800-347-2860

Wayne ...................................................................... 31 www.waynepumps.com; 800-237-0987

Gordon’s ................................................................... 33 www.gordonsusa.com; 816-421-4070

Paladin Data Corporation ..................................... 36-37 www.paladinpointofsale.com/nrha; 541-803-6060

Wooster Brush Company ......................................... 15 www.woosterbrush.com; 800-392-7246

Halex......................................................................... 30 www.halexco.com; 800-749-3261

Pennsylvania Lumbermens Mutual Ins. Co.............. 18 www.plmins.com; 800-752-1895

Home Improvement Research Institute................... 60 www.hiri.org; 317-982-3979

Phifer .......................................................................... 7 www.phifer.com; 205-345-2120

*This index is provided for the convenience of our advertisers and readers. The Publisher assumes no liability for errors or omissions.

October 2019 | HARDWARE RETAILING

Last Word