'price" thrcats

retailing industry have struggled or performed poorly due to over emphasizing the price aspect of selling."

"A second major concern the retail segment faces is the matter of overstoring," he said. "More is not better. And it is often an expensive millstone around the retailer's neck. There is a high danger today in having too many storesand too much square footagein a given market."

"Stores are expensive investments which have to be leveraged into success quick-ly. The answer, I think, is to bring some sanity into the marketplacea more studied approach to the demographics and data about markets. locations and the amount of competition a given market can support," Hechinger emphasized.

D-i-y is a good business to be in because the homeowner is a pre-screened customer with credit who is spending to preserve, protect and beautiff a home, the largest investment of his or her lifetime, Hechinger pointed out. "We're not dealing with fads or high fashion. Yet, the typical d-i-yer is a more sophisticated, better-educated and more upwardly mobile person today than five years ago."

Hechinger suggested that retailers as well as manufacturers should be educating the customer and leading them in various ways. New ideas and merchandise should be presented aggressively and imaginatively. Convenience, compelling and easily understood packaging and instructions. multilingual in some cases. and convenience packaging were some of the items cited as importantto the consumer.

Hechinger concluded his talk by exhorting his audience to have a plan and stick to the principles of retailing, running a basic, sound, profitable business with single-mindedness of puqpose. A l0 point criteria for success taken from The Winning Performance : How America's High-Growth c e e d summarized his recommendations for success.

From open to close, the mood of the Aug. l0{3 Hardware Industry Week with the National Hardware Show was upbeat. Attendance at McCormick Place and McCormick Place West in Chicago sagged slightly from last year, although it reached over 75,000.

While recent forecasts have sent mixed signals on the likelihood ofcontinued economic strength through the remainder ofthis year and beyond, all industry reports indicated steady growth ahead for the hardlines business.

Story at a Glance

Sharpwarning todealers that customeE want morc than price ...cautions on danger of too many stores...upbeat mood among more than 75,000 show attendees...steady hardlines growth predicted.

The new products exposition and the packaging exposition were focal points for both those attending and those exhibiting. More than 500 packaging and product merchandiser items were displayed with more than 50 companies selected for packaging honors.

Attendance at the eight industry seminars was over 1,500. Developed by the American Hardware Manufacturers Association with the assistance and support of eight participating associations. the educational presentations offered ideas on productivity, time management, working with manufacturer's agents, managerial excellence and market opportunities.