Issuu

Serving Hardware, Home Center & Building Material Retailers Servingg Hardware, Home Center & Buildingg Material Retailers

Game Game Plan Plan

Nation’s CEO Nation’sBest Best CEO Chris Talks ChrisMiller Miller Talks Growth GrowthStrategy Strategy Page Page5050

How Young Retailers Are How Young Retailers Are Shaping the Industry

Shaping the Industry Page 34 Page 34

What Customers Crave What Customers Crave n Consumables Page 58 in Consumables

Page 58

Volume 219 • Issue 2 • September 2020 • hardwareretailing.com 8/17/20 8:53 AM

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We’re going virtual. NRHA All-Industry Conference | Oct. 12-15

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How Young Retailers Are Shaping the Industry

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What Customers Crave in Consumables

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Dan Starr

Dan Tratensek

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Connect and Learn KEYNOTE

Dan Starr, President & CEO, Do it Best. Corp. How Independents Are Still Disrupting Eric Hassett, Owner, Hassett Hardware & Matt Woods, Owner, Woods Hardware Evolving Technology Dan Tratensek, Executive Vice President, NRHA How Consumer Demands Are Changing Post-Covid

To see the entire speaker lineup and to register, visit nrhaconference.com

KEYNOTE

Kevin Hancock, CEO, Hancock Lumber Employees First: Disrupting Assumptions for More Loyal Customers and Stronger Sales Will Aubuchon, Patrick Goebel, Kevin Hancock & Kirby Scales 2020 Top Gun Awards Retail Panel Kim Peffley, Retail Consultant, NRHA The Tools You Need to Improve Your Culture

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Volume 219 • Issue 2 • September 2020 • hardwareretailing.com

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Headquarters EDITORIAL, DESIGN & PRODUCTION

Consider Your Options

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

@NorthAmericanRetailHardwareAssociation @nrha_official North American Retail Hardware Association @nrha_official

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. NRHA BOARD OF DIRECTORS CHAIRMAN OF THE BOARD Daniel Harris, Palos Ace Hardware, Palos Heights, Illinois; Lemont Ace Hardware, Lemont, Illinois EXECUTIVE VICE CHAIRMAN Greg Schlecht, Greg’s True Value, St. Francis, Wisconsin DIRECTORS Will Aubuchon, W.E. Aubuchon Co. Inc., Westminster, Massachusetts David Dishke, Grand River Home Hardware, Caledonia, Ontario Ryan Ringer, Gold Beach Lumber Yard Inc., Gold Beach, Oregon Jared Smith, Jared’s Ace Hardware, Bishopville, South Carolina Matt Woods, Woods Hardware, Cincinnati, Ohio SECRETARY-TREASURER Bob Cutter, NRHA President and CEO IMMEDIATE PAST CHAIRMAN TJ Comstock, Northwest Hardware LLC, Billings, Montana

s a successful independent, you know keeping your options open is critical. The North American Retail Hardware Association (NRHA) offers a range of business services to strengthen your operation, including the NRHA Health Plan. We created this option due to the rising costs of health insurance plans. Our goal was to offer retailers like you flexibility and clarity when exploring health insurance coverage for employees. We encourage you to compare your current coverage to the NRHA Health Plan to see if you can lower your overall health insurance costs. Some retailers have reviewed the NRHA Health Plan and ultimately opted to stay with their existing coverage. But simply reviewing the plans has motivated their insurance agents to sharpen their pencils and find lower overall costs. We consider that a win. Besides reviewing the NRHA Health Plan for your business, you’ll also have the ability to review our low-cost secondary coverage for dental, vision, short- and long-term disability and life insurance options. You’ll partner with Custom Benefits Insurance Group, a team that truly takes the time to answer questions and keep retailers’ best interests at heart. Visit nrha.org/health-insurance today to learn more about how the NRHA Health Plan could cut costs for your operation.

317-275-9400, editorial@nrha.org

EXECUTIVE VICE PRESIDENT & EXECUTIVE EDITOR Dan Tratensek MANAGING EDITOR Melanie Moul, mmoul@nrha.org PROFILES EDITOR Kate Klein, kklein@nrha.org TRENDS EDITOR Todd Taber, ttaber@nrha.org PRODUCTION EDITOR Hans Cummings, hcummings@nrha.org SENIOR DESIGNER Aubrey Smith GRAPHIC DESIGNER Autumn Ricketts DIGITAL MEDIA SPECIALIST Kevin Trehan EDITORIAL & RESEARCH PRODUCTION COORDINATOR Natalie Harris PRODUCTION MANAGER Nancy A. Vondersaar SALES & PRODUCTION ASSISTANT Freda Creech

MARKETING & COMMUNICATIONS DIRECTOR OF MARKETING & COMMUNICATIONS Whitney Daulton CORPORATE COMMUNICATIONS MANAGER & EDITOR Julie Leinwand

NRHA SALES

317-275-9400, sales@nrha.org VICE PRESIDENT OF SALES & PUBLISHER Kevin Hohman, khohman@nrha.org NORTHERN REGION SALES DIRECTOR David Brodowski, dbrodowski@nrha.org BUSINESS DEVELOPMENT REPRESENTATIVE Matt Caruso, mcaruso@nrha.org SOUTHERN REGION SALES DIRECTOR Scott Gilcrest, sgilcrest@nrha.org BUSINESS DEVELOPMENT REPRESENTATIVE Jordan Rice, jrice@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

EXECUTIVE STAFF

David Gowan Vice President of Finance and Business Services

PRESIDENT & CEO Bob Cutter VICE PRESIDENT OF FINANCE & BUSINESS SERVICES David Gowan

MEMBER SERVICES

800-772-4424, nrha@nrha.org

STATE & REGIONAL ASSOCIATIONS 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

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.

NRHA CANADA

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

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

POSTMASTER: Send address changes to Hardware Retailing, P.O. Box 16709, St. Louis, MO 63105-1209. All editorial contents copyrighted 2020 by the North American Retail Hardware Association. No editorial may be reproduced without prior permission of the publisher. REPRINTS: For price quotations, contact the Editorial Department at 317-275-9400 or fax requests to 317-275-9403. Printed in the USA.

HARDWARE RETAILING | September 2020

TRAINING MANAGER & EDITOR Jesse Carleton, jcarleton@nrha.org RETAIL OUTREACH COORDINATOR Renee Changnon, rchangnon@nrha.org EVENT MANAGER & RETAIL SUPPORT Katie McHone-Jones, kmchone-jones@nrha.org

RETAIL LEADERSHIP INSTITUTE EXECUTIVE DIRECTOR Scott Wright, swright@nrha.org

CIRCULATION, SUBSCRIPTION & LIST RENTAL INQUIRIES CIRCULATION DIRECTOR Richard Jarrett, 314-432-7511, Fax: 314-432-7665

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Contents SEPTEMBER 2020 | VOLUME 219 | ISSUE 2

“I want to create a company that’s known for its mission statement of treating others the way they want to be treated.” —Chris Miller, Nation’s Best Holdings

Departments On the Web . . . . . . . . . . . . . 06 Editorially Speaking . . . . . . . 08 Taking Care of Business . . . . 10 NRHA News. . . . . . . . . . . . . 14

Trends . . . . . . . . . . . . . . . . . 18

COVER STORY

Growth Is Best Introducing Nation’s Best Holdings, a new company focused on identifying and investing in hardware stores and home centers with strong local roots and a best-in-class approach to service. Learn about the company’s growth strategy from CEO Chris Miller and get his insights into the future of the industry.

New Products . . . . . . . . . . . 20 Checkouts . . . . . . . . . . . . . . 30 Newsmakers . . . . . . . . . . . . 70 Last Word. . . . . . . . . . . . . . . 74

CATEGORY SPOTLIGHT

Snacktime Solutions Including locally produced and packaged snacks and candy in your consumables product mix can boost add-on sales and customer loyalty. Learn the value of trying something new in this varied category.

OPERATIONS

Priced Perfectly

INDUSTRY AWARDS

The Young and the Disruptive The six 2020 NRHA Young Retailer of the Year honorees are revamping company cultures, expanding sales, adopting new retail innovations and mentoring future leaders—and they’re just getting started.

HARDWARE RETAILING | September 2020

Learn how Deron Yingst, co-owner of Jackson Center PRO Hardware, uses regular visits to his competitors to create a price image that keeps customers coming back and filling their baskets.

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On the Web

INDUSTRY AWARDS PODCAST

Young Retailer Reflections The 2020 Young Retailer of the Year honorees are inspiring the channel. Visit TheRedT.com/yroty-2020 for links to podcasts with each of this year’s honorees and a recording of this year’s virtual awards summit to learn more about the industry’s future leaders.

OPERATIONS

Organization Counts Never miss an expiration date by following the first in, first out method for your consumables category. Go to TheRedT.com/fifo for tips and best practices to share with your team.

RESEARCH

The Contractor Equation

OPERATIONS

Manage Your Workplace Stress Join NRHA’s Kim Peffley to learn simple ways you can combat workplace stress and ensure your team is balancing duties safely. Stream the exclusive webinar at TheRedT.com/manage-stress. STAY CONNECTED

@hardwareretailing

HARDWARE RETAILING | September 2020

@hardwareretail

COVID-19 has changed how professional contractors conduct business. Market research firm The Farnsworth Group has tracked contractor behavior since the start of the pandemic, helping retailers understand some of their biggest customers. Get the scoop by visiting TheRedT.com/contractors.

45%

of contractors say COVID-19 has pushed them to use a new product supplier since June. Source: The Farnsworth Group

PODCAST

Take a Bite Out of Consumables On the latest episode of “Editorially Speaking,” hear about trends in consumables from Do it Best merchandise manager Lauren Wilson. Head to TheRedT.com/pod to listen now.

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Editorially Speaking

From a Distance Join Us for a Virtual NRHA All-Industry Conference

f there is one thing we can agree on, it’s that nothing is going the way we planned this year. Whether your plans were personal or business, it’s likely they have been impacted in some way. In your case, the impact may have actually been positive, as an influx of customers finally started checking tasks off their home improvement to-do lists. Here at NRHA headquarters—which is now spread across many living rooms and home offices—we’ve adapted to a new way of virtual operations. And I would say we’ve adjusted quite well, all things considered. We all recognize the benefit of video calls when some of us previously would have tried to solve challenges any way other than face-to-face. Because we are limited in our communication methods, it shows us how important virtual face-to-face communication is to a successful operation, and to getting a magazine to the printer on time. As we began to see more wholesalers choosing virtual markets this year, everyone at NRHA started looking for more ways to accomplish the “associate” pillar of our mission, but virtually. Obviously, one of the best parts of attending wholesaler markets and other industry events is the once- or twice-a-year opportunity to network and catch up with old friends. Unfortunately, this year isn’t going to allow for those types of meetups. However, that doesn’t mean we’re calling it on our annual conference. The National Hardware Show recently announced its virtual event will take place Oct. 12-15, and the NRHA All-Industry Conference will happen in conjunction with the show. Every year, the conference requires the collaboration of every department at NRHA to create an event that provides value for attendees, no matter their wholesale affiliation. This year is no different, with the exception of it taking place virtually. Going virtual was a tough decision to make, both from an emotional standpoint and a logistical standpoint. We look forward

to the NRHA All-Industry Conference every year, which traditionally takes place in conjunction with the National Hardware Show in May. In addition to losing out on the in-person networking and live events, transitioning a four-day conference into a virtual event is challenging. But taking the NRHA All-Industry Conference online opens up possibilities we haven’t previously been able to offer, and that was key to making it work. One request we get from people who can’t attend the live event is access to recorded presentations. That hasn’t previously been possible, but this year, it is. Those who haven’t been able to attend the live event will get a chance to attend any and all educational sessions, including a keynote from Dan Starr, president and CEO of Do it Best, retailer panels, including the 2020 Top Guns and presentations from other industry leaders. To see the entire speaker lineup and to register for this year’s conference, visit nrhaconference.com. Mark your calendars to tune in to the event we didn’t anticipate hosting at the start of this year, but we are confident will deliver the vital connections you’ve been missing.

“Taking the NRHA All-Industry

Conference online opens up possibilities we haven’t previously been able to offer, and that was key to making it work.

HARDWARE RETAILING | September 2020

”

While we are learning the value of virtual events—and I anticipate they won’t go away, even once the pandemic is over—we can better appreciate the opportunities we have to associate in person when it’s safe to do so. In the meantime, I’ll see you on Zoom.

Melanie Moul Managing Editor | mmoul@nrha.org

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Taking Care of Business

Meet Your New Customer Online Research and Shopping See a Boost During Pandemic

or those who have been reading my column for any length of time, you’ll likely recall that I often use my lovely wife as an analog for your average retail consumer. I mean, she definitely represents more than that to me, but for the purposes of this column, I think you understand where I’m coming from. While my wife is wholly unique and truly special to me, she does happen to represent a pretty coveted demographic for retailers. She’s a middle-aged (sorry), suburban homeowner, who makes numerous household decisions and with two grown kids, two spoiled dogs and a very difficult to manage husband. Because I think my wife is fairly representative of other consumers, when I see her shopping behavior shift, I take notice.

“The COVID pandemic has been a major catalyst for change in consumer behavior. These new habits will persist after mask mandates and social distancing guidelines have passed.

”

So, when my wife, who had never ordered groceries for curbside pickup or home delivery on a regular basis began using a variety of grocery delivery services, I took note. When she stepped up the number of times she utilized third-party food delivery services, I also took notice. And lastly, when she began ordering pet care products online, I definitely knew changes were afoot. Obviously, all of these behaviors were heavily influenced by the current pandemic-related state of affairs. Like many people these days, my wife was more hesitant to go out and shop in her more familiar manner while trying to maintain social distancing. But honestly, the reason she started engaging in these new shopping activities is less important than her reaction to them. Bottom line is, she likes it. Sure, COVID-related restrictions led her to these services, but since she began engaging with these alternative shopping

HARDWARE RETAILING | September 2020

methods, she has become a fan. I have little doubt she will continue many of these behaviors post pandemic. So, what does that say about your customers? In a recent study that examines COVID-19’s impact on consumer behavior in the home improvement space, study author Fred Miller made the following statement: “In terms of consumer attitudes and behavior, there has never been a single force that has so significantly shaped the home improvement market (as COVID).” The study (available at consumerspecialists.com) goes on to illustrate how COVID has brought on some fundamental changes in the ways consumers go about home improvement projects. Particularly of interest to independent retailers is the way in which consumers say they are gathering information about and shopping for home improvement products. Not only does the study show that in 2020, consumers are much more likely to list online resources as one of the primary ways they gather information about home improvement projects (up by more than 12 percent from 2019), they are also less likely to buy those products from a local brick-and-mortar store (down by 6.7 percent from 2019). The silver lining to these findings, however, is that when choosing to shop at a local store for their needs, consumers did indicate they were more likely to patronize hardware stores, lumberyards or paint stores than a big-box home center. I think the important takeaway from this information is that the COVID pandemic has been a major catalyst for change in consumer behavior. These new habits will persist after mask mandates and social distancing guidelines have passed. Businesses that are able to recognize and align their operations to meet these new needs will be best suited for growth for years to come. And, if you don’t believe me, just ask my wife!

Dan M. Tratensek Executive Editor | dant@nrha.org

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DOUBT IS Out.

DO IT BEST HELPS MEMBERS LAUNCH NEW LOCATIONS WITH CONFIDENCE. More customers, more opportunity. More risk, more challenges. Expanding your business with a new location can be a time of promise and peril. But as member-owners Tammy and Scott Moore discovered, Do it Best is ready to support you every step of the way. The Moores started by collaborating with Do it Best on a thorough demographic and market analysis to confirm their chosen location was positioned for growth. Next, they worked with our Signature™ Store Design team to create the ideal store from the ground up. Guided by our market analysis, Tammy and Scott stocked their new location with comprehensive hardware and rental departments, along with a deep selection of outdoor living and home décor, including The Color Bar™ interactive paint department. Since their grand opening, Mountain View Home & Hardware has exceeded expectations, and the Moore family is already looking forward to their next location.

“Do it Best gave us the confidence that we had it right – they led us through the process and really took the pressure off.” Scott Moore Mountain View Home & Hardware Patrick Building Supply

» Partner with Do it Best to grow your business without the worry. Call us today at 888-DO-IT-BEST (888-364-8237) or visit doitbestretail.com.

NRHA News

New Podcast Dives Into Hardware Retailing Stories

osted by Hardware Retailing managing editor Melanie Moul, the “Editorially Speaking” podcast gives listeners a preview of the content in the upcoming issue of the magazine and features exclusive conversations with retailers, wholesaler representatives and other members of the independent home improvement channel. Each episode corresponds to content in the magazine. “We want to give readers a sneak peek of what’s coming up in the magazine, and a podcast gives us the opportunity to also deliver more retailer stories, best practices and industry trends and updates,” Moul says. “I look forward to using this new medium to share more of the great content that Hardware Retailing delivers every month.” New episodes of “Editorially Speaking” are released on the last Monday of every month. Search for podcast episodes, subscribe and listen at TheRedT.com/pod.

Available Episodes Episodes 1 & 2: Meet the 2020 Top Guns In the first two episodes of the podcast, Will Aubuchon of W.E. Aubuchon Co., Patrick Goebel of Star Lumber, Kevin Hancock of Hancock Lumber and Kirby Scales of Russell Do it Center talk about their operations and offer industry insights. Episode 3: Trends in Consumables Building on the strategies presented by retailers on Page 58, Moul talks to Lauren Wilson, merchandise manager for food and snacks at Do it Best, to get insights into additional trends in consumables and how retailers can further develop this potentially lucrative add-on category.

More Hardware Retailing Podcasts “Taking Care of Business”

“Tell Me More”

Hardware Retailing executive editor Dan Tratensek interviews high-profile retailers, industry experts and wholesale executives to understand trends, challenges and opportunities facing the industry today.

NRHA retail outreach coordinator Renee Changnon explores the world of retail with stories from independent retailers who are bringing new perspectives to the industry.

Health Insurance During COVID-19

s the U.S. faces an unprecedented public health crisis, independent retailers are seeking ways to better support their employees during COVID-19. Affordable group health insurance is a valuable asset for both employers and employees. The North American Retail Hardware Association (NRHA) offers the NRHA Health Insurance Program, which is managed by Custom Benefits Insurance Group Inc. This group plan allows independent operators to access benefits at lower rates due to the volume of retailers who participate in the program. “I encourage business owners to explore their insurance options and make the right choice for their employees,” says Bob Chiesa, owner and president of Custom Benefits Insurance Group Inc. “Employers need to prepare now in order to take care of their employees.” For information about the NRHA Health Insurance Program, visit nrha.org/health-insurance or speak with a member of the Custom Benefits Insurance Group team at 248-960-5100.

HARDWARE RETAILING | September 2020

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NRHA News

Be a Part of NRHA’s Virtual Conference

he NRHA All-Industry Conference is now going virtual. On Oct. 12-15, log in from the comfort and safety of your home or office to attend virtual keynote sessions, retailer panels and other industry presenters. “The theme is Industry Disrupters, which we thought was appropriate before the pandemic disrupted literally every aspect of our lives. Now it’s even more relevant,” says NRHA executive vice president Dan Tratensek. “Transitioning to a virtual conference is certainly a disruption from the norm, but we’re excited to be able to continue to bring stellar presenters and educational programming to retailers for this year’s conference.” The conference will take place in conjunction with the National Hardware Show, which will also take place virtually the same week. For more information about speakers and to register for the virtual event, visit nrhaconference.com.

Kevin Hancock

Eric Hassett

Matt Woods

Will Aubuchon

Dan Starr

Dan Tratensek

Kim Peffley

Kirby Scales

Patrick Goebel

Mark your calendars! From Oct. 12-15, join us for presentations from Do it Best CEO Dan Starr, the 2020 Top Guns and more.

Trainer’s Corner: 3 Opportunities to Train on Pricing

mployees who understand retail profit and loss are more likely to know how they can protect your margins. For example, you can encourage them to be careful when stocking shelves by showing them the effect one damaged product has on the bottom line. Or, show them the role margin plays in pricing when you train on add-on sales. NRHA has three training courses designed to give your employees a deeper understanding of pricing and profit. Consider working them into your training schedule this fall. Then, to expand your own insights into this topic, read the article on price shopping on Page 64.

Our Three Pennies of Profit NRHA’s longest-running training program, “Our Three Pennies of Profit,” is a 15-minute video designed to explain the fundamental elements of retail profit and loss. It shows some of the ways employees can help protect your margin, and why that’s good for everyone’s success. This course is available to NRHA Training Members.

Got pests...get ®

Basic Pricing Trainer’s Toolbox As part of NRHA’s Trainer’s Toolbox series, “Basic Pricing” contains a short video offering an introduction to cost, retail price and margin. It will help employees understand why the profit on some items is higher than others and what they can do to help boost the overall margin. You’ll find this free course on nrha.org/training in the Operations category.

Basic Pricing Online Course The course “Basic Retail Pricing” offers a high-level view of pricing fundamentals for anyone who wants to understand the connection between a retailer’s pricing strategy and profit. It consists of short videos and interactive segments and can be completed online in less than 1 hour. This course is available to NRHA Training Members. To learn more about how to become an NRHA Training Member, visit nrha.org/membership.

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Trends Monitoring the Market Use the following industry metrics to anticipate emerging trends and opportunities in the channel. Data is not seasonally adjusted, meaning these graphs represent real-time shifts in the market.

Analyze total retail sales for building material and garden equipment centers to track your business’s performance against national averages.

Understand consumers’ desire to save or spend by gauging overall consumer confidence levels.

Serve customers renovating or upgrading homes more effectively by observing housing starts and existing home sales.

Consumer Confidence

Monthly Home Improvement Sales

$10

Existing Home Sales

JUN

MAY

APR

MAR

FEB

JAN ‘20

DEC

NOV

$20

OCT

JUL

JUN

MAY

APR

$30

SEP

MAR

FEB

JAN ‘20

NOV

DEC

OCT

$40

SEP

120

AUG

$50 JUL

150

AUG

(Building material and garden centers; in millions)

(Measured by surveys sent to U.S. households; in basis points)

Housing Starts

600

500

(in thousands)

400

300

200

100

JUL

AUG

SEP

OCT

NOV

DEC

JAN ‘20

FEB

MAR

APR

MAY

Sources: The Conference Board; U.S. Department of Commerce, NAICS 444; National Association of Realtors; U.S. Census Bureau

HARDWARE RETAILING | September 2020

JUN

New Products

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tools—high quality, great warranty, and they cover parts for 10 years. In an industry that cycles in and out of models, Festool stays consistent. —Mike Benson, Central Valley

”

Roasted Sunflower Seeds Giant roasted sunflower seeds from South Forty Snacks are GMO-free, kosher and seasoned only with salt. The resealable bags keep seeds fresher, longer. They are roasted and packed in the U.S. South Forty Snacks south40snacks.com or 888-799-1142

Cordless Angle Grinder Dual Drive Bit Set This 10-piece Phillips® Dual Drive Bit Set features titanium-coated steel construction. The low-profile dual drive design allows for use with a ratchet or 11 mm wrench. It includes a storage rail and all bits are backed by a lifetime warranty.

Festool’s AGC 18 Volt Cordless Angle Grinder features a keyless arbor and guard change, stepless variable speed from 4,500 to 8,500 rpm and a unique battery position for cut-off operation. It is compatible with the Festool 18 Volt System battery packs and chargers. Its enclosed motor and cast electronics are safely protected against dust. Festool USA festoolusa.com or 888-337-8600

Mayhew Tools mayhew.com or 800-872-0037

Send a note to editorial@nrha.org with the details about products you can’t keep on the shelf. Include your name, your business name and a few reasons why you or your customers would love it to be considered for publication.

HARDWARE RETAILING | September 2020

Wood Stain Minwax Wood Finish Water-Based Color Solid Stain has over 200 tintable color options and is thicker than traditional oil-based stains for easier application. The solid color shows more color and less wood grain. It dries in one hour.

Gasoline-Powered String Trimmer

Minwax minwax.com or 800-523-9299

ECHO’s SRM-2320T Straight Shaft Trimmer is designed for light to medium trimming with a 17-inch cutting swath and a 2:1 high torque gear ratio. It features toolless access to the 2-stage air filtration system, a large full-wrap tank stand and rubber overmold front and rear hand grips. It includes a Speed-Feed® 400 trimmer head with Black Diamond™ string. ECHO Inc. echo-usa.com or 800-432-3246

Nail Guard

Reusable Bento Box

Smart Shield™ is a steel nail guard that protects wire and cable in wood framing. It can be installed before or after cable is placed and eliminates drywall bulge caused by using surface-mounted nail plates.

Takenaka Bento Boxes are made to replace single-use disposable containers and are microwave safe, dishwasher safe and BPA and lead free. They’re available in a selection of 18 colors and seven sizes and include a secure closure band.

Madison Electric Products meproducts.net

Takenaka takenaka-global.com

September 2020 | HARDWARE RETAILING

New Products

Banana Chips Classic Sea Salt ‘Nana Chips are a healthy alternative to potato chips. They are grain free, gluten free, non-GMO, paleo, vegan and kosher with no added sugar, soy or dairy. Bubba’s Fine Foods bubbasfoods.com or customerservice@bubbasfoods.com

Air Purifier Sharp®’s Plasmacluster® Ion Air Purifier features True HEPA filtration. It reduces pollen, dust, pet dander and smoke and can also reduce certain germs, bacteria, viruses, odors, molds and fungus. It includes a three-stage filter system with an activated carbon filter and long-life True HEPA filter. It also features technology that pairs with an app to provide remote control and monitoring. Sharp® shop.sharpusa.com

Multi-Surface Formula Learn More at FrogTape.com ©Shurtape Technologies, LLC 2020/81911

Open Shelves Arena style shelves from Kesseböhmer combine straight lines with a sleek single rail. Each shelf pairs a melamine surface with chrome-plated or powder-coated steel rails. The surface is resilient against household chemicals and cleaners and includes an invisible antislip coating to ensure stored items stay put. Kesseböhmer cleverstorage.com or 910-338-5080

Furniture Polish The Original Bee’s Wax Old World Formula Furniture Polish restores the natural beauty of wood and prevents dryness. It won’t fingerprint and will not build up wax. It doesn’t require buffing and can be used on leather, marble, granite, wrought iron, stainless steel, glass and mirrors. Bee’s Wax Polish beeswaxpolish.com or 800-568-1413

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REVENGE® House Guard Foaming Aerosol

.03% Deltamethrin • Expanding foam spreads deep into hard to reach places • Keeps killing roaches for up to 18 months • Foam disappears into invisible barrier • Non-staining formula does not stain where you put it • Fast acting, kills on contact

September 2020 | HARDWARE RETAILING

New Products

“We have many pets that

love to shop the treat area. I could never risk the health of people’s family members b ff i g unsafe treats. by offering

”

—Renee e Zaman, m Mazo a Hardware r e

Pet Chew

Home Air Conditioner Filter Silver Micron’s home air conditioner filters are infused with submicron carbon for odor control and silver ions. Studies show silver ions can inhibit the growth of COVID-19, flu viruses and over 800 germs, molds, bacteria and other viruses on contact for up to three months at 99.9 percent effectiveness. Silver Micron filters are made in the U.S. and are UL-certified and ASHRAE-approved. Silver Micron silvermicron.com or 303-946-1747

154 Harvey Road, Londonderry, NH 03053 (603) 644-2500 | www.wirebelt.com | sales@wirebelt.com 24

HARDWARE RETAILING | September 2020

Redbarn’s pet chews are 100 percent natural, grain and gluten free, rich in collagen and easily digestible compared to traditional rawhide. In addition, they’re odor and stain free. Redbarn invests time and money into quality assurance programs, ensuring all their pet treats are safe and healthy for pets. Redbarn Pet Products redbarn.com or 800-775-3849

Kitchen Towel TENJIN’s kitchen towels are made from 100 percent, stain-resistant linen. Linen is a durable natural fiber and is machine washable. TENJIN products are hand woven. TENJIN tenjin-global.com or sales@mirajapan.com

The new electric combination 1400-PSI pressure washer and 350-PSI low pressure dispensing mister is available as a hand carry or portable model. Includes everything you need for cold water cleaning or disinfecting.

Scan code to learn more about this essential equipment.

Fire Fighting Foam FireAde® is a water-based foam designed for easy application on accidental fires. Each can is multiuse; it works until the can is empty. It is noncorrosive, rapidly cools hot metal and is effective on Class A and Class B fires (97 percent of all fires). It also works great on Class D (metals) and Class K fires (cooking fats). FireAde fireade.com or safetyfirstsales2020@outlook.com

Pressure Washer Mister Combination (hand carry model)

www.mitm.com 800-553-9053

September 2020 | HARDWARE RETAILING

New Products Privacy Rail RDI’s HideAway Privacy Rail uses powder-coated aluminum framing with vinyl infill boards to provide privacy to outdoor spaces. HideAway can be used with other RDI vinyl and aluminum railing systems to create customized railing solutions for homeowners’ outdoor spaces. RDI rdirail.com or 877-420-7245

Backyard Beehive Flow Hive is a user-friendly beehive that uses patent-pending technology to allow beekeepers of all experience levels to safely harvest honey straight from the hive without causing any harm to the bees. Its construction protects the hive from the elements and features observation windows and brass fixtures. It is available in two sizes and two different wood timbers. BeeInventive Pty. Ltd. honeyflow.com or 646-876-8880

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Privacy Screen and Sneeze Guard Mockett’s Privacy Screen and Sneeze Guard helps create a safe personal work space and provides privacy. The translucent privacy screens fit into the slot of an extrusion that fits over panel walls. The extrusion is adjustable to fit panel walls from 1 7/8 inches to 2 ¼ inches wide. The panel screens are available in 12-inch, 18-inch and 24-inch heights up to 6 feet long. Doug Mockett & Co. mockett.com or 800-523-1269

Kitchen Faucet This pull-down kitchen faucet features all brass construction, a 360-degree rotating spout, dual-function sprayhead, a ceramic disc cartridge and a polymer braided hose with rotating joint. The Descano series signature look features hash mark textured knurling detail on the handles and spout. It is available in 28 finishes. California Faucets calfaucets.com or 800-822-8855

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0.36% Glufosinate-ammonium • Kills weeds, grasses and brush, roots & all • One gallon treats 1,000 sq. ft. • Visible results in hours • Use around trees, gardens, sidewalks, driveways

KleenUp® he Concentrate 5.78% Glufosinate-ammonium • Kills weeds, grasses and brush, roots & all • High efficiency formula, one gallon of finished spray treats 1,000 sq. ft. • Mix 3 to 8 oz. per gallon • Economical to use, visible results in hours • Use around trees, gardens, sidewalks, driveways

September 2020 | HARDWARE RETAILING

Mike Kimball, CEO - Ian Williams, COO Fresno Ag Hardware, Fresno, California

“Our philosophy as a company is to always be an asset to our community. That means it’s up to us to make sure we’re working with suppliers that best serves our customer’s and client’s needs. Midwest Fastener continues to exceed expectations by providing an amazing product selection, competitive pricing and quality customer service that you can’t find anywhere else.” – Mike Kimball, CEO

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

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Checkouts

Daniel Buzzell of Ace Hardware & Sports (left) worked with his distributor to buy more than 1,100 sheets of drywall to donate to homeowners in Michigan who are repairing their flood-damaged homes. Dams broke and caused disastrous flooding in and near Midland, Michigan, where Buzzell’s store is located.

A Disaster and a Donation

n May, aging dams failed throughout a river system in Michigan, forcing more than 10,000 people to evacuate their homes and businesses to escape massive flooding. When the dams broke, lakes emptied, flooding thousands of structures in the state, including formerly beautiful lakefront homes. No one died, but the physical destruction was extensive. Daniel Buzzell, owner of Ace Hardware & Sports in Midland, Michigan, had an employee whose home filled with water to its first-floor ceiling. Buzzell saw the ravages of Hurricane Katrina in 2006 when he did volunteer work in Louisiana, and the flooding in Michigan left damage that looked similar to him. Ace Hardware & Sports was untouched, so Buzzell felt an obligation to help the people who were sorting through the wreckage of their homes. They were gutting the buildings and trying to work with insurance companies to figure out if damages from the disaster would be covered.

Buzzell had seen the need for drywall in hurricane-damaged homes 14 years ago, so he asked his distributor for help buying a truckload of drywall to give to homeowners in Michigan. “A lot of people are just rebuilding on their own without insurance money,” Buzzell says. “We’re trying to do something that helps alleviate the cost somewhat.” He ordered 1,156 sheets of drywall, working with his distributor to buy it at half the typical cost so he could double the amount the store could donate. A local United Way case manager is working with a construction company to evaluate homes ready for the drywall and supply it to the owners. “We have been fortunate that we have been an essential business and have been profitable through the entire pandemic,” Buzzell says. “We realized we needed to step up and do more. We felt a sense of responsibility, and the drywall fits a very specific, timely need.”

Looking for creative ways to engage customers? Whether it’s promotions, merchandising or special events, we cover it here. Have an idea? Send an email to editorial@nrha.org to have your story considered for publication.

HARDWARE RETAILING | September 2020

HARDWARE COMPANY

You’re invited to log-in to Fall Virtual

our Fall Virtual Dealer Market

October 29-30, 2020 Dealer Market Our Virtual Market will have the same great deals and pricing as we have always had and more. All the Bonus Buy Assortments, Coupons, Super Savers, Preprints, Pallet Buys and Drop Shipment items will be available Thursday and Friday. More great spiffs will be available at this Market from our Vendors. Go to etoolbox.net to register for our Virtual Market to participate.

Buyers and Vendors will be availabe from 7:30 a.m.-5:00 p.m. on Thursday and Friday. All House-Hasson staff will also be available to help you with all of your needs.

Top Reasons to Log-in to Our Virtual Dealer Market • Unmatched Super Savers • Cash Spiffs • Hot Deals on Bonus Buy Assortments and Items • Unbeatable Prices • Industry Leading Vendor Participation

• Easy Payment Terms • Exciting New Items • Electronic Ordering • State-of-the-art Marketing Program

• Advertising & Merchandising

Solutions

For more information about our Fall Virtual Dealer Market, contact us today! 1-800-333-0520 ext. 212 • www.househasson.com • House-Hasson Hardware Co., Knoxville, TN 37914 • service@househasson.com

Community Art Ambridge Do it Best Home Center in Ambridge, Pennsylvania, has two mosaic art installations on the walls that illustrate the store’s connection with its community. An art teacher worked with local junior and senior high school students to create the mosaics, which are made from glistening bits of glass, for Ambridge Do it Best. The larger mosaic features cartoon character tools, including a screwdriver and a lawn mower. The store hosted a dedication ceremony in honor of the students and placed a plaque on the wall recognizing their contributions. “It’s incorporating our store and community into the decor,” general manager David Strano says.

Pizza and Thank You When essential businesses in Ashland, Wisconsin, started buying each other lunches in solidarity, St’s Hardware pitched in. The store bought 12 pizzas for workers at a local health center. The donation helped get the store’s name out in the community while also supporting frontline workers, owner Lindsey St. Germain says. “When anyone does something kind during a stressful time, it can put a smile on your face,” she says.

Rx for Orchids Once a month, the Jacksonville Orchid Society is on hand at Hagan Ace Hardware in the Mandarin neighborhood of Jacksonville, Florida, to show customers how to properly repot and care for their orchids. The repotting clinics are free to customers and a huge boost to the store, says Lisa Harrison, director of the Garden Shop for all eight Hagan Ace locations. “Having experts like those in the society come in and give specialized knowledge to your customers is well worth the time and effort for any retailer,” she says. “Our sales are up during that time, and the repotting clinics are a great way to educate both staff and customers. Our employees are more confident in answering customers’ questions now that they’ve watched a few clinics.”

Cake by Popular Demand Trevor True Value Hardware in Moline, Illinois, has offered cake decorating classes for years, but COVID-19 forced the store to take a break for a few months. Customers began asking when the classes would restart, so the store scheduled the events and provided space for attendees to participate while also social distancing. Classes are now back on the store calendar about twice a month. A cake decorator teaches the lessons and demonstrates techniques for making buttercream frosting, using fondant and creating cakes that feature designs such as beach waves and witches’ cauldrons. Classes range in size from four to 10 people, who each pay $25 to attend. Some customers participate in nearly every class, according to Jeanna Earley, gift, cake department and housewares buyer. “They’re always doing something new,” Earley says.

Introducing...

Rose Shield

ROSE SHIELD® Systemic Rose & Flower Care 0.22% Imidacloprid, 8-12-4 plant food • Dual action, insecticide plus fertilizer • Promotes strong roots while protecting plants from listed insect pests

ROSE SHIELD® Drench

0.80% Tebuconazole, 0.15% Imidacloprid • Provides 6 week control of both insects and disease • Won't wash off • Protects new growth

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0.66% Difenoconazole, .40% Thiamethoxam, 0.16% Lambda-Cyhalothrin • Insecticide and fungicide protects for up to 30 days • Rain proof within 60 minutes • No odor & no staining

September 2020 | HARDWARE RETAILING

A S S O C I A T I O N

Disrupting the Future 6 YOUNG RETAILERS WHO ARE RESHAPING THE INDUSTRY BY KATE KLEIN JULIE LEINWAND

KKLEIN@NRHA.ORG, JLEINWAND@NRHA.ORG

evamping company cultures, expanding sales, adopting new retail innovations and mentoring future leaders are among the many accomplishments of the 2020 Young Retailer of the Year honorees—and they’re just getting started. The North American Retail Hardware Association’s (NRHA) Young Retailer of the Year program annually recognizes outstanding retailers age 35 or younger who have demonstrated how they have improved their businesses, invested in their own career development through industry education and bettered their communities. Honorees are selected from three categories: stores with less than $2 million in sales, stores with more than $2 million in sales and operations with multiple stores. The six retailers NRHA honored this year have stepped up as leaders in the businesses they operate and in the communities they serve. They also stand out as rising retail stars who are advancing the industry during unprecedented times. “The 2020 Young Retailer of the Year honorees represent the bright future of the independent home improvement industry,” says Scott Wright, executive director of the NRHA Retail Leadership Institute. “Each one demonstrates the ambition and innovation that will continue moving our industry forward, as well as a passion for serving their communities, making them irreplaceable contributors to every market they serve.” Visit nrha.org/yroty to watch the virtual Young Retailer of the Year ceremony, listen to interviews and watch videos of the 2020 honorees.

THANKS TO ALL OUR SPONSORS

HARDWARE RETAILING | September 2020

Young Retailer of the Year | 2020 Honoree

Katie DEMARIS OWNER | DEMARIS HARDWARE

Location St. Ansgar, Iowa Category Under $2 Million in Sales

atie DeMaris first dreamed of owning a hardware store in 2014, after a visit to see her husband’s family in St. Ansgar, Iowa. On the trip, she and her husband noted that the local hardware store was for sale, and during the four-hour drive home, they discussed the possibilities the store presented. Nearly two years later, they decided to leave their jobs at a major agricultural equipment manufacturer and move with their three children to St. Ansgar to pursue this new dream. Their first several months weren’t easy— the family moved into the basement of the hardware store while they renovated their home. They also worked to revamp the store by themselves, replacing ceiling tiles and floors, painting the interior, overhauling the exterior and installing new LED lights. DeMaris Hardware opened for business on April 17, 2017. They hired their first part-time employee that September. In the first year, they saw a 152 percent increase in sales from the previous owner’s final year in business. DeMaris credits her work history and education for her success as a hardware store owner. Her high school job at a plant nursery, her undergraduate degree in art education and her MBA gave her experience with relevant products, creativity, marketing and inventory control. In their prior careers, DeMaris and her husband oversaw million-dollar department budgets and managed employees and inventory. The family’s turn-of-the-century home has also served as a source of inspiration and experience relevant to their store. They test

HARDWARE RETAILING | September 2020

many products on their own home and use this firsthand knowledge and their relationships with the tradespeople they hire to work on their home to better serve customers. DeMaris Hardware has adapted to the needs of its customers. The store boasts a profitable niche selling custom school sports apparel, local and seasonal live goods and free services, such as replacing watch batteries and bird food delivery. The DeMarises value giving back to their community. They donate regularly to the American Legion, the local fire and rescue department, the local school district, various historical projects, multiple cancer benefits and town festivals. They also try to pick a different organization each month for which to raise or match funds. For example, on their dog Gracie’s birthday, they offer in-store specials, hand out treats and donate a percentage of their sales to the local animal shelter. DeMaris is an active member of the local chamber of commerce and a parade organizer for the annual town festival. She also volunteers on the city’s park renovations committee, helping her establish new connections across St. Ansgar. The business has also partnered with the local school to employ students with special needs at the store so they have the opportunity to gain real-life work experience in a safe setting. For DeMaris and DeMaris Hardware, community comes in the form of a friendly hello, a welcoming canine and genuine customer service.

Photo by Hannah Rosholt

“

The struggle for St. Ansgar is much the same for many communities across America, but we have one thing that big-box stores and online shopping will never have—and that’s community. September 2020 | HARDWARE RETAILING

Photo by Marshal McIntosh

“

My dream is what’s down the road. What is the next store? What does it mean to serve other communities?

HARDWARE RETAILING | September 2020

Young Retailer of the Year | 2020 Honoree

Weston JACOBS

OWNER-OPERATOR | WEAKLEY-WATSON HARDWARE

Location Brownwood, Texas Category Under $2 Million in Sales

eston Jacobs had no retail experience when he took over his hometown hardware store in 2017 to prevent it from closing. He’s met the industry’s demands and established his business as a reliable community partner. Weakley-Watson Hardware in Brownwood, Texas, had been family run and operated since 1876. However, the fifth generation of the Weakley family was ready to retire when they prepared to shut down the operation in 2017. Jacobs’ parents, Tim and Kerri Jacobs, were entrepreneurs who saw an opportunity in the business, which is one of the oldest hardware stores in Texas. Jacobs embraced their vision. He and his family purchased the store in 2017, wanting to preserve Weakley-Watson’s 140-year legacy in Brownwood, the town where Jacobs grew up. He had left Brownwood when he went to college at Texas A&M University and then pursued a career with a large trucking company in Dallas. When he and his family bought Weakley-Watson, Jacobs and his wife moved to his beloved hometown so he could run the store. From the start, Jacobs took full responsibility for running the operation and set out to learn about retail and the hardware industry, while also growing the business. In the first year, he led the store’s change to a new wholesaler and saw sales grow 13 percent. The following year, Weakley-Watson’s sales grew 5 percent.

Jacobs looked to the store’s longtime employees for help learning about the business and understanding the industry. They were gracious teachers and Jacobs was eager to learn. He also pursued home improvement industry training opportunities to learn about the products and projects that are important to his customers. Jacobs considers his parents mentors who have taught him the importance of valuing relationships, no matter how frustrating or stressful a business situation may be. They operate a gift shop and pharmacy and never worked in home improvement, but they have shown Jacobs how to serve customers and employees well. Jacobs has taken his role as a local business owner seriously, seeing it as an opportunity to give back to the community. When wind destroyed granite veterans’ memorials in Brownwood, he worked with the local Veterans of Foreign Wars and American Legion groups to raise money to rebuild the monuments. Working together, they raised $30,000 for the repairs. Jacobs also collects coats and cold weather gear for needy kids, donates money to an organization that advocates for abused and neglected children and works with local businesses and residents to provide bottled water for local volunteer fire departments. Looking to the future, Jacobs plans to continue growing his business by adding sporting goods to his existing store and opening or buying additional locations.

September 2020 | HARDWARE RETAILING

Young Retailer of the Year | 2020 Honoree

Sam OLSON

CO-OWNER AND MANAGER | BUFFALO HARDWARE

Location Buffalo, South Dakota Category Over $2 Million in Sales

am Olson was just 24 years old when he helped negotiate the acquisition of Buffalo Hardware. He studied business entrepreneurship in college, where he got to create his own learning experience outside the classroom by buying the Buffalo, South Dakota, store with his parents in 2014. Born and raised in Buffalo, Olson grew up visiting Buffalo Hardware. The owner hoped a local entrepreneur would eventually buy the business from him to ensure it remained a community asset. Olson was just the man for the job as he is deeply invested in and passionate about his hometown. Olson was also committed to growing as a retailer and pursued multiple opportunities to learn about leadership, management and retailing. He participated in a state leadership program and completed the NRHA Retail Management Certification Program. After taking over Buffalo Hardware, Olson oversaw a store remodel and expanded the outdoor selling space and lumberyard. Sales tripled during the first year under his leadership. Olson also spearheaded the acquisitions of three other local businesses, including a gas station, propane company and a ranch supply store. Reflecting the demographics of the county, the businesses’ customers are primarily ranchers. Buying and running local companies is a way to keep a small community thriving, and Olson hopes his entrepreneurial efforts help improve

HARDWARE RETAILING | September 2020

the quality of life in Buffalo for present and future generations. Taking care of employees, customers and the community as a whole are motivators. For Olson, helping people includes offering stellar customer service and knowing the names of all 350 people who live in his small town, volunteering with the local chamber of commerce and economic development corporation, supporting fundraisers and lending a hand when people are in trouble.He is president of the chamber, vice president of the economic development corporation and vice president of the Olson Livestock Foundation, an organization that provides calves to young ranchers. Buffalo Hardware is a conduit for other people’s generosity, and Olson takes the role seriously. Every winter, community members give Olson cash and ask him to provide residents in need with gift cards and propane to help them get through the coldest months. The store matches the donations and identifies community members needing help, who only know that the gifts are given anonymously. The Buffalo community has partnered with Olson wholeheartedly in giving. When Olson donated to and helped support fundraisers to assist with medical bills for two local children who needed specialized care, the fundraisers raised $80,000 each— a significant amount of money coming from a county with only about 1,200 residents.

“

I’ve got to keep making my town better. I want to provide opportunities for my future children and make the community a place people want to stay in and return to. September 2020 | HARDWARE RETAILING

“

I love this company, I love my community and I am excited to grow with this business. It is an absolute honor to be recognized for all of the accomplishments we have been able to achieve in our first year as owners.

HARDWARE RETAILING | September 2020

Young Retailer of the Year | 2020 Honoree

Ryan BUCK

OWNER | BUCK’S HOME BUILDING CENTRE AND NEW GERMANY HOME HARDWARE BUILDING CENTRE

Location Bridgewater and New Germany, Nova Scotia, Canada Category Multiple Store Operations

yan Buck’s unofficial career in retail began 26 years ago at his parents’ store, then known as Beaver Lumber, stocking shelves on Friday nights. Those small moments still resonate with Buck to this day, and they are what propelled him into his career as a home improvement retailer. His career officially began at 16, working in the family’s then 5,000-square-foot store—the building would later be replaced with a 21,000-square-foot facility. Buck says starting in the smaller retail store allowed him the opportunity to grow his skills in all areas of the business. After returning home from college in 2005, an opportunity presented itself in the installed sales department. Buck stepped up to the challenge and made the department his passion. At the time, the installed sales department typically saw $250,000 in annual sales. But after 15 years under Buck’s leadership, adding two full-time associates and a part-time administrative assistant, the department has grown to surpass $1.5 million in annual sales. In 2017, while still managing the installed sales department, Buck’s focus shifted to the operational side of the business. He began having more frequent conversations with his parents about succession planning. On Jan. 1, 2019, Buck and his wife, Julie, purchased the business, now known as Buck’s Home Building Centre, from his parents. Four months later, they purchased their second location, New Germany Home Hardware Building Centre.

Since taking ownership of the New Germany store, Buck has seen store traffic increase at the location by 60 percent. As a small business owner, Buck believes in giving back to his community. In his first year as owner, he has been able to contribute to various sports teams, auction fundraisers and other local events. When a community outdoor pool needed a new deck and ramp, Buck donated the materials for the project. The store also donated labor to help build a playhouse for a local elementary school. And each year, the Bucks choose a charity or local organization to support through special fundraising events. After purchasing the New Germany store, the Bucks sought to invest in the future of the community by creating a scholarship for each high school in the area. These scholarships go to deserving students who are actively involved in the community and have a financial need. Buck also served for seven years as a member of the Bridgewater Volunteer Fire Department and is an active member of the local chamber of commerce. At age 34, Buck has already become a multistore operator and a valued member of the community, where he has put down roots with his wife and their three daughters, Madison, Ellianna and Kenzie. As Buck looks to the future, he says he hopes to continue empowering his staff, building their knowledge and skill sets to ensure they remain the retailer of choice within the communities they serve.

September 2020 | HARDWARE RETAILING

Young Retailer of the Year | 2020 Honoree

Cody GOEPPNER RETAIL MANAGER | BLEYHL CO-OP

Location Grandview, Washington Category Multiple Store Operations

ody Goeppner has integrated a passion for community and independent retail into the latest phase of his career. Goeppner is the retail manager for Bleyhl Co-Op and serves on the company’s senior leadership team. He oversees the co-op’s Grandview, Washington, retail store and adjacent convenience store, but also spends much of his time assessing ways to improve the company’s overall retail operations. Goeppner began his career in the independent home improvement industry working for his family’s hardware store in Ferdinand, Indiana, first as a child and later as an adult after pursuing a career in theater. When he rejoined the family business, he sought leadership training and made plans to become the seventh generation of his family to own and operate the store. While participating in NRHA’s Retail Management Certification Program, Goeppner connected with leaders from Bleyhl Co-Op and appreciated their passion and commitment to their business and the communities they serve. When Goeppner's family business closed in 2018, the team at Bleyhl Co-Op invited him to come to Washington. Goeppner was not immediately interested in working for the co-op because of his enthusiasm for family-owned operations, but Bleyhl CEO Dan Morano shared about his commitment to serving the organization’s members, piquing Goeppner’s interest. The company’s executive team was ready to make significant changes to its retail operations and was eager to bring in Goeppner’s fresh ideas and desire to innovate.

HARDWARE RETAILING | September 2020

Goeppner joined the co-op’s leadership team to focus on improving Bleyhl Co-Op’s retail stores. His vision was to turn the stores, which needed facility and business practice updates, into the modern face of the company. Goeppner set to work on projects ranging from remerchandising the stores to developing a new system for hiring and onboarding employees. Goeppner helped lead changes such as adapting the product mix to a more focused selection that serves core customers more comprehensively and having signage and marketing materials translated into Spanish to better serve the stores’ Spanish-speaking customer base. As part of the ongoing business improvement process, Goeppner mentored peer staff members, encouraging them to expand their leadership skills and grow in their confidence to share creative ideas for improving the business. A significant change for the operation, which has nearly eliminated turnover at the retail stores, was introducing the company’s customer service model during the interview process for new hires. Doing so enables employees to start their jobs understanding the company’s standards and values. Mentoring other employees has become Goeppner’s passion, and he encourages staff members to innovate, develop and bring forward ideas that make the business stronger. Goeppner has also plunged into contributing to his community, serving as president of the chamber of commerce, volunteering for the local fair and rodeo and hosting community events.

“

As with the family business, my goals are always legacy driven. I don’t want the successes of the business and what I’m doing to only be good as long as I’m a part of it. I now sit with an entire team of engaged individuals who are moving mountains in retail. September 2020 | HARDWARE RETAILING

“

To keep job stability and security and be a long-term investment in our community, customers and employees, retailers need to be forward-thinking.

HARDWARE RETAILING | September 2020

Young Retailer of the Year | 2020 Honoree

Matthew HOLMES

OWNER | HOLMES BUILDING MATERIALS

Location Baton Rouge and Denham Springs, Louisiana Category Multiple Store Operations

s the fourth-generation owner of Holmes Building Materials in Baton Rouge, Louisiana, Matthew Holmes got his start like many others in the industry— by sweeping floors and stocking shelves in the family business. His father, John, always wanted him to work outside the family business to get more exposure to the industry as a whole. So after majoring in construction management with a minor in business at Louisiana State University, Holmes worked for several years at a large custom home building company. In 2011, he returned to Holmes Building Materials with the aim to eventually succeed his father in the leadership and ownership role. He worked to prove himself in outside sales before being promoted to operations manager in 2014. That year, his redesign of the contractor services warehouse space paid off with huge gains in efficiency and sales. Previously, the warehouse team produced 30 to 40 doors a day, but Holmes’ redesigned space allowed them to deliver 100 doors each day. Holmes next turned his focus to gaining more exposure to local contractors in Baton Rouge. In 2015 and 2016, he opened two new showroom locations. Then, in August 2016, a complex thunderstorm system flared up in southern Louisiana, resulting in constant torrential downpours in the Baton Rouge area. The day the flooding started, Holmes sprang into action. Holmes Building Materials partnered with vendors to donate building materials to rebuild 32 homes for needy residents.

The store also matched each dollar that was donated to the cause. After rebuilding efforts in town reached a manageable level, a new, larger location for the Baton Rouge store became a priority— and a clear turning point in the leadership transition at Holmes Building Materials. Holmes took full control of the new store, which opened in 2017. When his father retired the next year, Holmes took over as president of the company. The ownership transition is in progress and will be completed in a few years. Holmes also devotes his time and energy toward service in his community. He and his family attend a local church, where he volunteers his time at events while helping with needed improvements at the facility. He coordinates Holmes Building Materials’ participation in the Home Builders Association of Greater Baton Rouge’s annual Dream Home auction, which has raised more than $20 million for St. Jude Children’s Hospital and Our Lady of the Lake Children’s Hospital. A few years ago, Holmes also stepped in to help save the local Salvation Army’s Angel Tree giving program, which assists families in need, by volunteering the former Baton Rouge location as a sorting and storage area for donations when the organization lost the use of its former building. Since Holmes’ return in 2011, sales at Holmes Building Materials have doubled. Holmes has already carved out his own legacy at the family business, and he will be making his mark in the industry—and his community—for many years to come.

September 2020 | HARDWARE RETAILING

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HARDWARE RETAILING | September 2020

P R O F I L E

New Endeavors N AT I O N ’ S B E S T C E O TA L K S I N D U S T RY C O N S O L I D AT I O N A N D S T R AT EG I C G R OW T H

here is no doubt we are in an era of consolidation among independent home improvement retailers. Recent research from the North American Retail Hardware Association (NRHA) clearly shows a trend toward fewer owners owning more stores. Accompanying this trend has been the growth of retail holding companies, unencumbered by geographic boundaries, looking to expand their retail presence and apply greater economies of scale to the operation of locally branded home improvement retail. Enter Nation’s Best. Nation’s Best is a retail holding company based in Dallas and run by Chris Miller, the former head of Parker’s Building Supply, one of the largest LBM chains in Texas.

Since forming in 2019, Nation’s Best has announced several acquisitions of independent home improvement businesses around the country, most recently acquiring Hall’s Hardware in Florida and bringing the operation’s total store count to 10. The company expects two additional divisions will join the Nation’s Best family by the end of the year, bringing the store count to 20. It was recently announced that Nation’s Best has entered into a joint venture partnership with Do it Best to continue fueling its momentum. Hardware Retailing recently talked to Miller for an exclusive interview to discuss the emergence of Nation’s Best and his plans for how the operation can continue on its growth path.

Chris Miller (center) is CEO of Nation’s Best, which is headquartered in Dallas. The leadership team also includes operations manager Matt Harrington (left) and Buddy Stewart (right), general manager of the Groom & Sons’ division.

September 2020 | HARDWARE RETAILING

Groom and Sons’ is a three-store operation in Texas that has been in business since 1948. Nation’s Best acquired the company in February. The Nation’s Best philosophy includes retaining the culture, the brand and the people of the stores it brings into the fold, including hardware manager Greg Mosley (left).

“This experience brought a new scope of accountability to my position and also a broader use of metrics to run a business than I had seen before.” —Chris Miller, Nations Best Hardware Retailing (HR): Tell us a little bit about your background and how that led you to your position with Nation’s Best? Chris Miller (CM): I started almost 15

years ago with Parker Lumber. I had the opportunity as a young man to move back to Beaumont, Texas, and team up with Scott Parker, who was an industry leader. He sold the business to Lanoga and was reacquiring 10 units when I joined him. We started with those 10 locations and now it sits with over 30 locations throughout Texas, California and North Carolina. For me, just the opportunity to work with Scott and having him as such a strong mentor in business and in life was an incredible opportunity. I’d really say that was the catalyst for my growth. Under Scott, I got to learn how to incorporate best practices from each location across an entire operation.

HARDWARE RETAILING | September 2020

Scott is a merchant at heart and he taught me the retail business, management and my first real experience into the world of acquisitions. In 2015, when Scott ultimately sold the business to US LBM, I had a chance to work within a larger, corporate environment, and this experience brought a new scope of accountability to my position and also a broader use of metrics to run a business than I had seen before. When I was working with Parker Lumber, I was helping customers, mixing paint and getting on the floor, really learning the nuts and bolts of the business. And then with US LBM, I was working at a more strategic level and managing multiple locations across the country. These two things really prepared me for what we are doing today with Nation’s Best. HR: How did Nation’s Best develop? CM: The idea came as we traveled around

the country and noticed there are definitely succession issues out there, but there are also other owners who just want to minimize risk and take their chips off the table. We also noticed that it is an extremely fragmented industry, and some of the smaller independents needed capital and additional experience to help them stay relevant and grow.

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All of these factors create a great opportunity for a holding company like Nation’s Best to find opportunities and make the best even better. With independents fighting the big boxes and larger national companies, we can continue to leverage and partner with local businesses and keep them autonomous while sharing best practices and strengths to create economies of scale like the big boxes have. I think for local home improvement stores to continue to be relevant and compete, they must be part of a larger organization with more scale, like what we have with Do it Best. HR: Explain what Nation’s Best is and tell us some of your goals. CM: The goal is, as the name states,

to become a national company

that comprises best-in-class local market home improvement retailers with great reputations, known for exceptional customer service and community involvement. The goal is to grow a solid business into the future with no private equity at play. With Nation’s Best, there are no capital return requirements in some short amount of time. This is really a long-term strategic play. I want to create a company that’s known for its mission statement of treating others the way you want to be treated. I know that might sound cliche, but if you treat your employees, customers and vendors the way you want to be treated, you will be successful and sleep better at night. We want to do this methodically and put our businesses on a continued path to growth.

HR: Where do you see Nation’s Best fitting in the independent home improvement retail channel? CM: I really see it as a unique fit.

There are a few other companies that might be considered similar to ours, but I look at Nation’s Best as being a really unique piece to the channel. We are a growth-oriented solution for home improvement companies nationwide that care about their businesses and their communities and want to see their businesses go to the next level. Nation’s Best started as a way to provide a succession opportunity for owners. The majority of the businesses we are looking at are small chains of home centers and hardware stores. These are operators who have good businesses but need a path to succession.

Left: Nation’s Best acquired Lambert Lumber and Home Center, owned by Annette and Mike Lambert (left), in February. Right: Customer service remains at the heart of Groom and Sons’. Head cashier Brenda Forman (left) helps customers like general contractor Kevin Freeman (right).

HARDWARE RETAILING | September 2020

HR: How does the process start? CM: It’s our goal to help these

owners move into their succession plan and keep the business and brand they built alive and growing. We will work with an owner even if the deal won’t start this year. We can begin having those talks and help them along the path to succession. So we can start talking and working with them through the succession process, and we have the resources to help through that transition. So if the owner says, “I don’t want to sell for two to three years,” then we can work with the owner and say, “Your business would look even more attractive to us if you do X, Y and Z.” Then we can work with them throughout the process. This is a model that hasn’t been pursued in the industry

at this point. The majority of the consolidators out there are either private equity-backed or operate as a wholly owned subsidiary of a distributor, so Nation’s Best offers a different and unique opportunity. HR: How do you see Nation’s Best growing throughout the balance of the year? CM: Where we sit today, I would

say that the four divisions and 10 locations we have acquired within the last year are stabilized and doing very well. That said, while our recent acquisitions have been in Florida, Texas and Oklahoma, we are open to constructive discussions with store owners in other parts of the country, some of whom we are in discussions with right now. We expect continued positive traction

in the coming months with a solid pipeline of businesses that fit our model and culture, including two more anticipated acquisitions that will bring our store count to 20 by the end of the year. We are well positioned to grow where there are opportunities and interest. HR: When it comes to acquisitions, is there a “sweet spot” for how many companies or brands you can operate? CM: We are focused on partnering

with experienced, knowledgeable management teams. We want our time to be spent pursuing profitable operations instead of getting tied up in turnarounds. We look for companies with a strong presence and brand identity in their

September 2020 | HARDWARE RETAILING

communities and that have a well-developed culture and respected reputation. We’re primarily focused on hardware stores and home centers with a strong retail mix. I’m not saying I wouldn't give a hard look at pro lumberyards, that’s my background, but right now, it’s not our primary focus.

Nation’s Best knows everything either; we learn from every acquisition and owner we talk to. Then we incorporate that knowledge into the other businesses, and that’s the beauty of something like this. We take what’s great from each unique brand and work to spread it throughout the entire operation.

HR: Tell us about the team at Nation’s Best and your core competencies. CM: We have a group of seasoned home improvement

HR: What are some of the biggest challenges you see today’s independent retailers facing? CM: That rolls into some of the challenges Nation’s

and business acquisition professionals. Most of the team members are people I have had the pleasure to work with, and they are exceptionally gifted at identifying good businesses that can become great and scale up with our proven practices and implementation of operational efficiencies. Part of our process is to sit down with the managers of the locations regularly to strategize on how to best service our customers, enhance efficiency, optimize our profitability and grow. We focus on modernizing the retail experience. Most owners we’ve talked to have wanted to put things like this into place and start managing through metrics and proper accountability, but for a variety of reasons, those initiatives were on the back burner. We also bring additional capital to improve the fleet and improve the stores. Where a store needs TLC, we will do a redesign and spend the capital where needed to position the store for long-term success and growth. I am in no way trying to discount the success these businesses have already achieved. I'm also not saying

HARDWARE RETAILING | September 2020

Best is seeking to address. Some stores are just falling behind in customer relevance. Owners have to ask themselves if their operations present an in-store shopping experience that connects with the needs of today’s customer. For example, do they have a digital presence that is informative and easy to navigate? Sometimes it’s as easy as looking on Google to make sure everything is updated. Making a business more responsive and relevant is about making the investments in the things that today’s customers expect when they walk into the doors—a clean, refreshed, well-merchandised operation. These are the things that we, over time, will revamp in the stores we operate. When you put money back into the store, refresh it and modernize it, the employees and customer base get excited. Another big challenge is succession. I know Hardware Retailing and NRHA have taken notice of the lack of succession planning within the industry. That’s where we can come in and help them navigate

“We take what’s great from each unique brand and work to spread it throughout the entire operation.” —Chris Miller, Nations Best that path. Even if it isn’t urgent, but further down the road, we can help them in that process. If all of that weren’t enough, there’s the pandemic, which has created its own set of challenges— and opportunities. We have to be better than we’ve ever been in presenting a compelling experience, as new customers are visiting our stores every day. Some are coming out of a renewed interest in shopping local and others just want to avoid the boxes. For those shoppers, we have to really deliver the wow factor during their visit. With as busy as stores are now, this is obviously a challenge, but boy, what an opportunity!

a buzz phrase right now, but I have seen people be successful in creating highly unique customer experiences by doing things like focusing on certain niches. Not just product niches, but niches in services, customer events and other in-store experiences. All of these things can drive the customer experience. HR: How do stores leverage niches to better compete? CM: I’d go back to the whole notion of Nation’s Best being

able to provide scale. As a larger business operating as an independently run holding company, I think we can combat that big-box scale in various ways. For example, at all of our locations, we are revamping websites for consistency and shoppability. We will be putting in various fleet analytics and bringing in disciplined marketing strategies and doing the best basic Retail 101 that is needed in the locations. Once we get that platform of store design done and some of the basic requirements the customer expects at retail, we can start looking at the long-term vision for how we truly differentiate ourselves from the competition. And we are already working on that. The use of technology is another one of the ways HR: What advice would you give independent retailers we can create scale to compete more effectively. I to overcome these challenges? notice that many retailers across the country have CM: First, you have to be active to stay relevant. You high-dollar ERP systems that are basically used like have to go to your co-op and supplier shows. This is cash boxes and are not leveraging the systems to one of the ways you know about trends and you know their fullest potential. That’s another area where we what the next hot product is. You have to join discussion groups and roundtables with can apply our skill set to take advantage of the tools an independent retailer might have at their disposal peer owners and share ideas about how to stay relevant. and create a more competitive operation. Also, I know customer experience is kind of

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he National Confectioners Association recently reported that plant-based snacks like popcorn, chips, veggie straws, corn crackers, dairy-free snacks, grain-free snacks made from plants like butternut squash or cauliflower, vegan puffs, minimally processed snack bars with limited ingredients and specialty diet snacks are growing in popularity. While food trends can inform the choices you make when selecting consumables to bring into your operation, following fads shouldn’t necessarily be the priority in this category.

HARDWARE RETAILING | September 2020

Treat your consumables category like you would any other niche opportunity in your business. Talk to your customers and employees about what appeals to them when it comes to snacks and treats and what makes them put something in their basket. Through these conversations, you may find ample opportunities to try something different that could be your next big hit. On the following pages, learn how focusing on new products and bringing in locally made and packaged food items can boost add-on sales and customer loyalty.

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Comfort, Room by Room

‘Keep It Fresh’

Mills Hardware & Feed in Arnold, Nebraska, has seen increased interest in healthy snacking. The store has more than 24 feet of floor space dedicated to consumables. Though the category only accounts for 4 percent of the business’s overall sales, it promises steady sales. “Some people prefer healthier snacks like granola bars,” says store manager Andrew Tickle. “But those items are more of a fad and the sales drop off after a while.” Mills Hardware & Feed has carried food items since it opened in 1996, sourcing new items twice a year at its distributor markets. “You’ve got to keep it fresh—people like either the staples or something new,” Tickle says. “You can’t just go with average shelf fillers.” At Mills Hardware & Feed, food items generally make great add-on sales. Meat jerkies and beef sticks are Tickle’s most consistent sellers, with fans of those items purchasing them nearly every time they are in the store. Craft sodas are also strong sellers. In addition to finding new consumables at distributor markets, the Mills team finds them at other home improvement businesses. “When we travel, we always visit hardware stores and see what they have,” says Tickle. “We want to make sure we’re keeping up with the times.” Trying new food items is an experiment with some risk because most edibles have expiration dates. “We bring it in and try it,” Tickle says. “If it’s not selling, we move it to an endcap or run a sale before it’s out of date.” Right: A broad selection of neatly packaged candy and other snacks catch customers’ eyes at the checkout at Keim Lumber. Bottom: Craft soft drinks have become a strong component of the consumables selection at Mills Hardware & Feed.

HARDWARE RETAILING | September 2020

BY T H E N U M B E R S

Local Food Sales 53% of survey respondents seek out locally grown or locally produced foods

Almost half are willing to pay up to 10% more; one-third are willing to pay up to 25% more Locally produced and packaged popcorn is a best-seller at Keim Lumber in Charm, Ohio.

Tickle says it’s important to be aware that food items, unlike most other home improvement product lines, are time-sensitive commodities. “Someone needs to be in charge of checking the dating and fronting in this category,” he says. “The old needs to be moved to the front and the new to the back when stocking.” Expiration dates aren’t the only challenges with consumable items this year. During the COVID-19 pandemic, Mills Hardware & Feed store traffic has been steady and add-on sales from the convenience of food items have been strong, but sourcing has been a challenge. “We’ve had to be willing to accept products that may not be

the exact SKUs we want because something on the shelf is better than empty shelves,” he says. Tickle has had fewer issues stocking local items since he deals with the manufacturers directly. A steady supply of local food is important at Mills Hardware & Feed because many local products drive shoppers to the store, making the goods more valuable than just addon items. “We have a handful of products that are unique and draw people in,” says Tickle. “We carry a pancake mix that people prefer to the standard mixes they get at the grocery store. It comes in different flavors.”

A third of consumers also claim to consciously purchase locally grown or locally produced foods at least once a week. Source: 2014 National Consumer Survey, Packaged Facts

September 2020 | HARDWARE RETAILING

Keim Lumber is committed to stocking and selling high-quality goods and giving back to communities that produce them. That commitment to their mission is one reason buyer Levi Miller brought in a line of ethically sourced coffee.

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Local Is Best

Because independent hardware stores are local themselves, there is an advantage to selling locally sourced products. The local food movement has gained ground, especially in recent months as consumers have wanted to limit trips to grocery stores. In Nebraska at Mills Hardware & Feed, locally made popcorn balls and cakes are its best-sellers. Tickle calls the supplier one a week and picks up his order himself. For other local items, Tickle has orders shipped. He learns about new local items when he or another member of his team sees them in other local shops. He then calls the manufacturer and asks if they are interested in becoming a Mills Hardware & Feed vendor. “You never know if you can access something unless you ask,” Tickle says. At Keim Lumber, a family-owned destination store with a cafe and catalog company that was founded in 1911 in Charm, Ohio, local food manufacturers often come to them, saving Keim Lumber buyers the trouble of sourcing new options. “We discover new local products when vendors bring them in and ask if we want to sell it,” says lawn and garden department manager and buyer Levi Miller. “They come to us first, before they go anywhere else, because we’re one of the largest stores in the area.” Miller added candy and snacks 15 years ago when the company decided to grow its consumables category beyond vending machines. Now the company has three endcaps with snack items at the registers along with a selection of nuts and candy. Keim Lumber carries over 40 SKUs of a local food brand that specializes in chocolate candies, including peanut butter cups and nut mixes. The store also sells 10 SKUs of ethically sourced coffee, which Miller says he consciously switched to because of the company’s practices. He recently moved the coffee closer to the register and sales have increased. Miller adds new items to the food lineup once or twice a year. However, they order new items in the soda category every three

months because the company adds and withdraws flavors often and the same SKUs aren’t always available. When Keim Lumber adds new items, the buyers and managers discuss what they think will work for their customers, says Miller. Sometimes employees on the floor also share what they think customers will like. Locally sourced popcorn is the No. 1 food seller at Keim Lumber, and they have a key connection to the source.

“An employee is a local kettle corn manufacturer,” Miller says. “He makes it once a week and brings it in.” Consumables represent a small but steady revenue source for Keim Lumber and Mills Hardware & Feed. Follow their example and explore flavorful options from local vendors, ensure product freshness and take advantage of special events and seasonal promotions to boost sales in the category.

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Price Investigator W H AT YO U C A N L E A R N F R O M S H O P P I N G YO U R C O M P E T I TO R S BY JESSE CARLETON

JCARLETON@NRHA.ORG

rial lawyers need to interview people on all sides of the case so they’re not surprised when they’re defending their client in the courtroom. That’s the approach Deron Yingst, co-owner of Jackson Center PRO Hardware in Jackson Center, Ohio, takes with pricing. It’s easy for him to defend his price to an inquiring customer because he visits his competitors weekly, analyzes their pricing and product selection and uses that research to refine his own retail strategy. As a result, he’s gained a reputation as a price leader. Overall sales have increased more than 300 percent since he and a business partner bought the store two years ago.

HARDWARE RETAILING | September 2020

Price shopping is an important part of any retailer’s competitive strategy. While wholesalers generate price lists that keep prices within a certain range of nearby competitors, many retailers, like Yingst, supplement those price lists with their own legwork. By visiting a competitor’s operation, you can also learn a lot about product selection and merchandising. While you may spend less time browsing through a store these days because of pandemic safety measures, consider making regular visits to nearby competitors part of your weekly routine. Here are six ways Yingst says you can get the most out of price shopping.

03. Evaluate their product selection.

01. Research new product lines. If you are adding a new product line, part of your market research should involve seeing what similar products other businesses in your area are stocking. For example, when Yingst decided to start selling flooring this past year, he devoted time to look at his principal competitor’s flooring department. He was not only interested in the price, but also in the quality of products they stocked. He chose to stock a higher grade of flooring, and because he had spent time in his competitor’s store taking notes on specific product lines, he was armed with the facts. He could explain in detail how his prices and quality of products compared to his competitors. Customers tend to be more satisfied when they have a better understanding of the product they are buying, Yingst says.

Yingst is just as interested in his competitor’s inventory as he is in their prices. Since he is in the same market, he can take their product mix as a good indication of what he should and shouldn’t stock. A trip to a competitor can help you determine your points of differentiation, whether that be in specific product lines, categories or services they offer. “I always look for what isn’t selling as much as what is selling well,” he says. “I look for full peg hooks that don’t look like they’ve moved in a while. If it doesn’t look like they’re selling something, then that could be an indication I don’t want to start selling that product either.” In the same way, he looks for products he isn’t stocking but maybe should be. Sometimes, he will walk through an entire department of another store and take notes about new items and what might be missing from his own lineup. “Use the big-box stores for clues to what you should carry. You can learn a lot from them,” he says. “They have spent a lot of money to figure out what to carry and how to merchandise it. I learn as much as I can from them and use that to determine what’s best for my business.”

02. Make price shopping a habit. Consistency is important to an effective price-shopping strategy. Your competitors frequently change promotional items and merchandising. If you are in their store on a regular basis, then you know what’s new, what your customers are seeing and what prices are catching their attention. Yingst visits his competitors’ stores and websites weekly. Between looking at ads online and in-person visits, he spends anywhere from four to 10 hours a week price shoppin How much time he spends depe on his goal for that particular visit. September 2020 | HARDWARE RETAILING

04. See what the ads won’t tell you.

Price shopping alone isn’t the magic bullet that will give you the edge over your competition. It must be accompanied by other operational efficiencies that will support your pricing structure.

Using only the internet and circulars to price shop has its limits. There may be items listed for sale in the store that are not listed in a circular. Visit stores so you can also see what products other retailers are promoting through their merchandising. What items are featured on endcaps and in the power aisle? How are they promoting impulse items? What appear to be their strongest categories according to placement on the salesfloor? Even if products in those areas aren’t on sale, customers are likely to notice their prices and so should you. Those high-visibility items may become points of comparison for customers if they do their own price shopping.

Why Low Prices Work for Jackson Center PRO

Yingst has made sure he’s running a tight operation so he’s prepared to take on his competitors’ prices, especially since his pricing strategy cuts against conventional wisdom. Rather than assuming shoppers are willing to pay slightly more for the service and convenience he offers, he’s not afraid to match or even undercut big-box prices when necessary. “Shoppers are not going to always pay a higher price for

Deron Yingst, Jackson Center PRO Hardware

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HARDWARE RETAILING | September 2020

convenience,” he says. “They may be loyal to you to a certain extent, but if they think your prices are too high, they will go somewhere else.” Yingst might be best known for his automatic 11 percent discount on all purchases, a direct response to Menards’ 11 percent rebate. He advertises his line of solid wood cabinets at 50 percent below what Menards charges. He says custom cabinetry is an item where his big-box competitors charge a premium. By undercutting their prices on cabinets, he can boost his price image and build a larger sale around a kitchen remodel. He uses frequent Facebook posts and in-store advertising to proclaim his low-price message.

“If you do your homework and learn your competitors’ strategies, then you will be able to compete with them.” —Deron Yingst, Jackson Center PRO Hardware One of the main reasons Yingst can afford to take a lower margin is that he owns his building and operates with very little debt. But just as important is his tight control on inventory. While he does take advantage of dating offers

from his two primary wholesalers, he also pays cash as often as possible. He relies on frequent deliveries to keep his store supplied, rather than let money sit on the shelf for weeks before an item sells. He also regularly purges dead items so he’s only keeping items he knows will sell. “Not having a lot of debt in inventory has been a huge advantage for us,” he says. “If we just used a revolving account with our wholesaler, we would be tempted to buy more than we need, rather than having cash available for other items. Having inventory paid for is key to being able to keep prices low, too.” Customer service and selection are important too. Yingst aims to have a wide enough inventory to complete major projects, such as a kitchen remodel. His selection includes a full line of hardware, cabinets, flooring and even some lumber. “I think one of the biggest mistakes retailers make is to think they can’t compete just because they are smaller,” he says. “If you have the attitude that you can’t compete, then you aren’t going to win. But if you do your homework and learn your competitors’ strategies, then you will be able to compete with them.”

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September 2020 | HARDWARE RETAILING

05. Improve your own customer service. Sometimes offering the best service to a customer means being honest with them about what the big boxes are carrying. If a customer is looking for an item he doesn’t have and can’t get via special order in time, Yingst can tell his customer not only which nearby store stocks it, but also which business is likely to have the lowest price. “Even if for that one time you are sending them to the competitor, they are not going to remember where they went as much as they are going to remember who sent them there, and they will come back to you,” he says.

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HARDWARE RETAILING | September 2020

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06. Remember the add-on sales. Price shopping is typically focused on comparing price-sensitive items so your business can stay competitive. Each retailer will have their own threshold of how low they are willing to go to match price. Yingst is willing to tread at or below his cost for certain items if it means winning the sale. That’s because he’s well prepared to create the add-on sales that will earn his margin. Effective merchandising, educated employees and a complete selection all contribute to add-on sales. Each of those elements should be strong in your store before you start to lowball prices. The ability to drive add-on sales could be your advantage over other retailers.

“You need to do more than just have a good price; you have to make those add-on sales and make your margin.” —Deron Yingst, Jackson Center PRO Hardware “Add-on items are where the big boxes often slack,” Yingst says. “They don’t always train their people to make sure shoppers have all of the accessories when they leave. You need to do more than just have a good price; you have to make those add-on sales and make your margin.”

September 2020 | HARDWARE RETAILING

Newsmakers

New Data Highlights Popular Home Renovation Projects

ome improvement website Houzz recently released data that reveals the most popular home improvement projects in the U.S. throughout 2019. Featuring insights from more than 2,000 homeowners across the country, Houzz’s data charts what homeowners were prioritizing before COVID-19 made a huge impact on the market. As more stay-at-home orders lift, check out the findings to see what home renovation projects your customers may be looking to revisit. Smaller price tags are becoming more popular. Houzz’s data shows the number of home renovation projects costing less than $5,000 is climbing. Nearly one-fifth of home renovation projects in 2019 cost less than $5,000. Marine Sargsyan, senior economist for Houzz, says the median spend on home renovations decreased to $13,000 in 2019, and many homeowners have narrowed their project scope as various international tariffs made certain products more expensive. Make way for home offices. Houzz’s data charts home renovation activity from 2019, but Sargsyan says home improvement retailers should expect to see many customers building or renovating home offices in the coming months as more people adapt to a work-from-home arrangement. “In a recent survey we conducted, we found that one in five homeowners have turned their homes into multiuse spaces for working at home,” Sargsyan says. “Homeowners are motivated to move their home office projects along as they were the least likely to be paused during the pandemic, with 7 of 10 such products continuing.” Be patient with homeowners planning renovations. One of the most consistent aspects of Houzz’s data is the long period of time it takes to plan and complete a home renovation project, Sargsyan says. “Preparing for a renovation in 2019 took homeowners longer than it did to actually renovate on average. While construction took between 2.7 and 4.5 months on average for different types of projects, the planning phase took about twice as long,” she says. “Kitchens require the most lengthy planning, averaging 8.3 months, compared with master and guest bathrooms (5.4 and 4.8 months, respectively). Surprisingly, entry, foyer or mudrooms, which typically command a smaller square footage, take 6.6 months on average to plan.”

HARDWARE RETAILING | September 2020

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Iron & Oak products are built solid with innovative designs and exclusive features to provide you with years of reliable service. IRONANDOAK.COM/HRM | (866) 281-4509

In light of COVID-19, many industry events are either postponing or transitioning to online platforms. For the latest information on major upcoming home improvement events, head to TheRedT.com/calendar.

Canadian Headlines • Walmart Canada Charges New Fee In a letter to suppliers, Walmart Canada announced it will issue a 1.25 percent “infrastructure development fee” on the price of products, with an additional 5 percent for goods sold online. The extra revenue will be used for Walmart to invest in its existing stores and e-commerce offerings.

• Canadian Tire Posts Deep Q2 Losses Canadian Tire posted a net loss of $20 million in its second-quarter financial report. The company saw profits of $177 million in the second quarter of 2019. Strong sales online and under the Canadian Tire banner made for an overall retail sales gain of 1.7 percent to nearly $4.4 billion.

• TORBSA Names New President Canadian building supply buying group TORBSA has named Paul Williams as its new president, replacing Bob Holmes. Williams was most recently Ontario regional manager for CGC Inc. and spent eight years with Owens Corning Canada.

• Pioneering Home Hardware Dealer-Owner Dies Howard R. Huehn, one of Canada’s first Home Hardware dealer-owners, died in August at the age of 98. Huehn was a World War II veteran and returned to Ontario after the war to manage Heidelberg General Store for several years.

Follow NRHA and Hardware Retailing on social media for updates.

@nrha_official

@hardwareretailing

Ad Index

Allway Tools .............................................................. 15 www.allwaytools.com; 718-792-3636

Howard Products Inc................................................. 66 www.howardproducts.com; 800-266-9545

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

Ancra Cargo............................................................... 68 consumer.ancracargo.com; 800-626-8353

Iron & Oak ................................................................. 71 www.ironandoak.com/HRM; 866-281-4509

Plylox Hurricane Window Clips ................................. 16 www.plylox.com; 800-583-4289

Bonide .....................................................17, 23, 27, 33 www.bonide.com; 315-736-8231

Jonathan Green ......................................................... 11 www.jonathangreen.com; 717-682-2179

Police Security............................................................. 9 www.policesecurity.com; 866-880-9297

Brave Products .......................................................... 71 www.braveproducts.com/HRM; 866-281-4421

Lighthouse for the Blind............................................ 32 www.rapidfix.com; 800-542-3697

Rescue......................................................................... 1 www.antbaits.com; 1-800-666-6766

Chapin International Inc............................................. 67 www.chapinmfg.com; 800-950-4458

Major Steelz .............................................................. 62 www.majorsteelz.com; 305-244-5260

Sashco ......................................................................IFC www.sashco.com; 800-767-5656

Do It Best Corporation ......................................... 12-13 www.doitbestretail.com; 888-364-8237

MARS ........................................................................ 59 www.marsdelivers.com

Shipp.......................................................................... 71 www.gnedi.com/shipp; 800-822-0295

Dosko ........................................................................ 71 www.dosko.com/HRM; 866-418-0474

Mayhew Tools........................................................... 69 www.mayhew.com; 800-872-0037

Shurtape Technologies LLC ...................................... 22 www.FrogTape.com; 800-321-1733

Dutton-Lainson Company.......................................... 62 www.dutton-lainson.com; 402-462-4141

Mi-T-M Corporation ................................................... 25 www.mitm.com; 800-553-9053

Shurtape Technologies LLC ...................................... 57 www.T-RexTape.com; 800-321-1733

EZ-AD ....................................................................... BC www.ezadtv.com; 888-580-5593

Midwest Fastener Corp........................................ 28-29 www.fastenerconnection.com; 800-444-7313

Thrasio ....................................................................... 26 www.angryorange.com; 877-757-3422

Franmar Inc. .............................................................. 56 www.franmar.com; 800-538-5069

National Hardware Virtual Show................................ 75 www.nationalhardwareshow.com; 888-425-9377

U-Haul International................................................... 19 www.uhaul.com; 800-468-4285

Gordon’s USA.............................................................. 5 www.gordonsusa.com; 800-884-3179

NRHA Health Insurance Plan .................................... 73 www.nrha.org/health-insurance

Wallace Hardware ....................................................... 3 www.wallacehardware.com; 800-776-0976

Hale Chain ................................................................. 24 www.wirebelt.com; 603-644-2500

NRHA’s TeamBuilder ........................................... 48-49 www.nrha.org/teambuilder

Wastequip Inc. .......................................................... 63 try.toter.com/beartoughcarts; 877-468-9278

Hardware Retailing Podcast ...................................... 66 www.hardwareretailing.com/pod

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

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

House-Hasson Hardware Co. .................................... 31 www.househasson.com; 800-333-0520

Paladin Data Corporation ........................................... 53 www.paladinpointofsale.com/nrha; 541-803-6060

HARDWARE RETAILING | September 2020

Protect Your Employees’ Health Are you looking for ways to help protect and support your employees amid COVID-19? Affordable group health insurance is a valuable asset for both employers and employees. The NRHA Health Insurance Plan offers great benefits with low group rates and the flexibility to choose your plan design.

“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 NRHA.ORG/HEALTH-INSURANCE

Last Word

Stay-at-Home Orders and Home Projects P eople who aren’t homebodies have become homebound in recent months, and data shows that an increase in house projects is one of the results of social isolation during the pandemic. Retailers in the home improvement industry have met the varying needs of customers by supplying products to clean, repair, beautify and make their homes more entertaining.

While paint is one of the top projects, nearly every home improvement category has sold well for retailers. According to a survey commissioned by Ace Hardware Corp., home improvements are on consumers’ radars more than usual because they have had extra time at home or are noticing unusual wear on their houses.

33% 35

of homeowners feel their house has aged two years in just two months.

of homeowners have recently noticed damage to walls or paint.

67% 63% of homeowners say recent events have caused added wear and tear to their homes. Survey conducted by Savanta on behalf of Ace Hardware

HARDWARE RETAILING | September 2020

of homeowners have become more likely to spot needed home improvements.

GOES VIRTUAL!

OCTOBER 12-15, 2020

The first ever National Hardware Virtual Show will feature 4 days of relevant industry education, direct appointment setting and networking between buyers and suppliers and a robust virtual product showcase featuring newly launched and never-before-seen products.

DIRECT APPOINTMENT SETTING & NETWORKING

Easily sync up your calendars and allow NHS to help facilitate direct and virtual appointment setting via Jublia between top industry buyers and retailers and NHS suppliers and manufacturers.

VIRTUAL PRODUCT SHOWCASES

NHS is known to be the industry leader in showcasing new products and innovation. This is your chance to see and source the newest products and tools to help expand your current product offerings…right from the comfort of your home or office!

EXHIBITOR SHOWROOMS

Search the virtual exhibitor directory of NHS suppliers and manufacturers spanning across all of our product categories, and use the tool to search for vendors and the newest products.

KEYNOTE PRESENTATIONS AND EDUCATIONAL SEMINARS Learn how to leverage today’s challenges from leading industry disrupters including Do it Best president and CEO Dan Starr and other industry innovators at the NRHA All-Industry Conference.

OCTOBER 12-15, 2020

To register to attend or sign up to exhibit virtually, visit nationalhardwareshow.com.

THE BEST IN THE BUSINESS

Orgill Helped Us Customize Our Offerings Without Sacrificing Our Independence Why We Like Working With Orgill: • A tailored product selection • Personalized market strategies • The ability to maintain our independence 1-800-347-2860 ext. 5373 information@orgill.com www.orgill.com

“Orgill is simply the best hardware distributor for our company. Orgill offers the right retail solutions to help us build our brand and grow our business.” Corby Biddle

Higginbotham Brothers Texas

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