Hardware Retailing July 2024 by NHPA

3 Retailers Share Their Online Strategies Page 20

6 Outdoor Living Trends to Drive Project Sales Page 28 Don’t Fight the Impulse to Stock Trendy Products Page 34

Digital Drivers

10 REASONS TO ATTEND

3 Retailers Share Their Online Strategies Page 20

6 Outdoor Living Trends to Drive Project Sales Page 28 Don’t Fight the Impulse to Stock Trendy Products Page 34

Digital Drivers

10 REASONS TO ATTEND

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CONNECTIONS

HEADQUARTERS

1025 East 54th St. Indianapolis, Indiana 317-275-9400

NHPA@YourNHPA.org YourNHPA.org

OUR MISSION

The North American Hardware and Paint Association (NHPA) helps independent home improvement and paint and decorating retailers, regardless of affiliations, become better and more profitable retailers.

NHPA BOARD OF DIRECTORS

CHAIRMAN OF THE BOARD

Ned Green, Weider’s Paint & Hardware, Rochester, New York

EXECUTIVE VICE CHAIRMAN

Joanne Lawrie, Annapolis Home Hardware Building Centre, Annapolis Royal, Nova Scotia

DIRECTORS

Alesia Anderson, Handy Ace Hardware, Tucker, Georgia

Jay Donnelly, Flanagan Paint & Supply, Ellisville, Missouri

Ash Ebbo, Clement’s Paint, Austin, Texas

Scott Jerousek, Farm and Home Hardware, Wellington, Ohio

Michelle Meny, Meny’s True Value, Jasper, Indiana

Michael Sacks, FLC Holdings, LaGrange, Texas

SECRETARY-TREASURER

Bob Cutter, NHPA President and CEO

STATE & REGIONAL ASSOCIATIONS

MIDWEST HARDWARE ASSOCIATION

Jody Kohl, 201 Frontenac Ave., P.O. Box 8033 Stevens Point, WI 54481-8033

800-888-1817; Fax: 715-341-4080

NHPA CANADA

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

CIRCULATION, SUBSCRIPTION & LIST RENTAL INQUIRIES

CIRCULATION DIRECTOR

Richard Jarrett, 314-432-7511, Fax: 314-432-7665

COMING IN AUGUST

EXECUTIVE STAFF

PRESIDENT & CEO

Bob Cutter

CHIEF OPERATING OFFICER & PUBLISHER

Dan Tratensek

CHIEF FINANCIAL OFFICER & EXECUTIVE VICE PRESIDENT, BUSINESS SERVICES

David Gowan

EXECUTIVE EDITOR

Scott Wright, swright@YourNHPA.org

EXECUTIVE DIRECTOR, MARKETING, SALES & PARTNERSHIPS

Whitney Mancuso

CONTENT AND PRODUCTION

317-275-9400, editorial@YourNHPA.org

SENIOR CONTENT MANAGER

Work Smarter, Not Harder, With AI

No longer just a sci-fi pipe dream, artificial intelligence (AI) is being used in a myriad of ways to improve efficiencies and overall operations in industries across the board. In the August issue of Hardware Retailing, we’ll explore how AI has the potential to positively impact the independent channel and save operations time, money and energy.

Hardware Retailing (ISSN0889-2989) is published monthly by the North American Hardware and Paint Association, 1025 East 54th St., Indianapolis, IN 46220. Subscription rates: Hardware Retailing (Payable in advance): U.S. & possessions $50/year. Canada $75/year. All other countries $110/year. Single copy $7. The Annual Report issue can be purchased for $30.

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

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

REPRINTS: For price quotations, contact the Editorial Department at editorial@YourNHPA.org. Printed in the U.S.

Lindsey Thompson, lthompson@YourNHPA.org

RESEARCH & ENTERPRISE CONTENT MANAGER

Melanie Moul, mmoul@YourNHPA.org

CONTENT COORDINATOR

Jacob Musselman, jmusselman@YourNHPA.org

GRAPHIC DESIGNER

Autumn Ricketts

GRAPHIC DESIGNER

Olivia Shroyer

PRODUCTION MANAGER

Austin Vance

PRODUCTION & DESIGN ASSISTANT

Samantha Mitchell

SALES & PRODUCTION ASSISTANT

Freda Creech

MARKETING COORDINATOR

Nathan Piper

SALES

NATIONAL SALES MANAGER

Greg Cole gcole@YourNHPA.org | 317-775-2206

ASSOCIATION PROGRAMS

800-772-4424, NHPA@YourNHPA.org

DIRECTOR OF MEMBER OUTREACH & EVENTS

Katie McHone-Jones, kmchone-jones@YourNHPA.org

DIRECTOR OF ORGANIZATIONAL

DEVELOPMENT & CONSULTING

Kim Peffley, kpeffley@YourNHPA.org

TRAINING MANAGER & EDITOR

Jesse Carleton, jcarleton@YourNHPA.org

RETAIL ENGAGEMENT SPECIALIST

Renee Changnon, rchangnon@YourNHPA.org

The Ins and Outs of What Retailers Are Doing Online

Over the last few years, retailers have been prioritizing creating in-store and online experiences for their customers. Featuring exclusive data from the North American Hardware and Paint Association, meet three retailers with distinct approaches to their online presence.

Get insights from the Home Improvement Research Institute on trends in outdoor living from the organization’s consumer research. Learn how you can support your customers in creating an outdoor paradise right at home.

See You in Sunny Florida

In just a few short weeks, the Independent Home Improvement Conference will kick off in beautiful Marco Island, Florida. Here are 10 reasons why you should get your ticket booked today to attend.

See how two retailers successfully follow the latest trends when stocking impulse items and improve their sales in the impulse category by using social media and creative merchandising to promote items.

EDITORIALLY

SPEAKING

CONNECTIONS

Send Scott a Message swright@YourNHPA.org

Scott Wright

“It is my honor to serve this association and industry by returning full circle to help run our media properties.”

FROM THE EDITOR

Coming Full Circle

ON A RECENT TRIP to the West Coast for our HR Training Roundtable group’s annual meeting, my trusty iPhone decided to die the day before the meeting started. It was a complete black screen event, and despite a few flickers of the Apple logo gasping for air, there was no bringing it back. As the moderator of the roundtable, I had no way to communicate with the dozen retailers arriving within 24 hours who would be texting and calling for guidance and directions. It couldn’t have been worse timing to lose my communication lifeline.

It’s times like these I realize how much we take for granted our reliance on personal technology (i.e. our smartphones) and how unconnected and lost we feel without it. After the panic subsided, I remembered that it wasn’t my only means of communicating. It was just the easiest way.

Back when I last held an editorial title with this magazine 20 years ago, we operated pretty efficiently in an analog world. The Blackberry ruled supreme, and the first gen iPhone wouldn’t be released for a few more years in 2007. Back then we weren’t writing about autonomous robots that shoot “outs,” we were writing about inventory management best practices. We weren’t writing about electronic shelf labels (ESLs), but we were writing about pricing strategies to stay competitive with the big boxes. Like my phone, the robots and digital bin tags are just tools used to perform functions retailers have been doing quite successfully for years.

I have been fortunate to have worked in each of the various divisions here at NHPA in my 30-year career. The first decade was in our publication department, visiting stores and writing articles for the magazines we produced. This is when I fell in love with this industry. The next 10 years, I headed up our member services department, serving our group membership accounts and helping develop programs that are still widely used today, such as our Basic Training product knowledge series that remains the industry’s gold standard. During the past 10 years, I’ve helped launch our advanced training curriculum, including our previously mentioned retailer roundtable series, as well as our Retail Management Certification Program and Foundations of Retail series.

All of this has provided perspective on the multiple paths to success that exist in this business, both analog and digital. I’ve come to find that independent retailers are unique, entrepreneurial beings who find ways around life’s obstacles in order to be successful and serve customers. The common denominator to success is the relationships they forge with their staff members and their customers by putting people first.

It is my honor to serve this association and industry by returning full circle to help run our media properties so we can continue NHPA’s 124-year legacy of developing and disseminating meaningful content that helps retailers become better and more profitable. This has always been the association’s mission, and my mission will be to see that Hardware Retailing continues to lead the industry forward, providing the quality content, actionable ideas and compelling research our members have come to rely upon to be able compete both online and in the aisles of your stores. It will be a mix of analog and digital delivery, the way you want to receive it, but either way, we will continue to share the stories of retail success you have come to expect from us.

Scott Wright Executive Editor

TAKING CARE OF BUSINESS

“The support of key channel partners hinges on you keeping up your end of the bargain.”

FROM THE PUBLISHER

Independent Retailers Thrive

I RECENTLY HAD THE OPPORTUNITY to speak to a group of the top manufacturers in the home improvement industry. During my presentation, it struck me how much the climate in the industry has changed over the last couple decades and especially the last few years.

It wasn’t that long ago that the entire channel was focused on the rise of the big boxes and at NHPA, we felt like we were constantly having to make a case for why independents still mattered.

Yet, here I was, invited to speak to this group of industry leaders about the state of the independent channel and what its future might look like. All of these companies were interested in how they could support and partner more effectively with independents.

But why? And why now?

Why are independent retailers top of mind while the big boxes are out there capturing about half the sales in the channel? Why, when Amazon continues to roll over the retailing landscape like a tsunami?

To me, there are a couple of reasons.

First, as it relates to the big boxes, independent retailers have survived this market push. You stepped up to the big bullies on the block and punched them in their noses and have created a “quiet peace” where big boxes and independents coexist.

You did this by being agile, responding to market opportunities and offering customers an alternative experience to the low-service, cavernous home improvement warehouses.

As far as Amazon, you are also finding ways to pivot. You are adding e-commerce features to your operations, engaging in local advertising and showing your customers you can still be convenient in the era of next-day delivery.

For all these reasons, the other members within the home improvement channel still look at independent retailers as a pathway to growth. Although the general sentiment has changed from 20 years ago when channel partners’ growth strategy was transfixed on the boxes, it can just as easily change today.

The support of key channel partners and these partners’ belief in the future of independent retailers and the growth they offer hinges on all of you keeping up your end of the bargain. This includes continuing to invest in your operations, continuing to be open to adding new products, continuing to focus on the needs of your specific market and continuing to stay ahead of consumer trends.

Without this kind of vision and willingness to invest in your own futures, channel partners’ prospects for growth with independent retailers will once again dim and there will no doubt be another competitor out there eager to step in to replace you.

Dan M. Tratensek Chief Operating Officer & Publisher

Grow With the Cash Flow

Teaching your team about best practices for controlling cash flow is essential for growth. Learn more about the new Navigating Cash Flow course at YourNHPA.org/cash-flow

Meet Gary

Gary Pittsford has helped hundreds of family business owners with valuations, exit planning, estate documents, retirement income security and net worth protection. Gary served as president and CEO of Castle Wealth Advisors, which was acquired in 2021 by Creative Planning to form a new division providing services for corporations, LLCs, family limited partnerships and others across a range of industries. Creative Planning Business Services offers expanded services for business owners. Gary retired from Creative Planning in December 2023 and now functions as a consultant, continuing to work with business owners nationwide.

gary@castleconsultingco.com

LinkedIn Gary Pittsford

EXPERT INSIGHTS

Just Keep Growing

About 40 years ago, most everyone in the retail home improvement industry had just one store. In the last 20 years, and especially in the last 10 years, it has become more common to see business owners acquire other stores or build brand new stores to grow their company. As most of you know, opening the second store is the hard one, but after that, the third and fourth store are a little easier.

Some of you may double the size of your retail square footage in one store and then some of you will acquire a second location in order to grow the business and create more stability and income for the family.

Growth in your company creates higher income, more financial security and better support if the next generation is going to take over the business.

Growth and profitability increase the value of your company and increase your personal net worth. The higher valuation and higher net worth for you makes it easier to think about retirement in a few years.

Some of you own several stores and no real estate, but probably at least half of you also own the real estate where the stores are located. By owning several stores and several buildings, it makes your retirement goals easier to reach.

If the next generation in your family is going to take over the business, most younger retail home improvement professionals like having a larger company with perhaps more than one location. It is easier for them to rapidly adopt new modern technology to run the company. This new technology in software and equipment will allow your company to grow faster, and hopefully more profitably.

Growth will give you the needed income to hire one or more of your children to take over the company and also hire more qualified store managers.

Growth for the future cannot happen without great employees who are well trained in all facets of running a retail home improvement business.

Many of you started your business 40 or 50 years ago with zero income, and now you have a substantial business with great employees and loyal customers. Doubling your business in the next 10 years will be much easier because of the technology systems and people that you have in place right now.

Growth is good for your net worth, good for your retirement, good for your family and good for your community. Don’t stop now.

Gary Pittsford Partner & Chief Valuation Officer (ret.) and Consultant Creative Planning Business Services

EDUCATION Communication Counts

The Everything DiSC® assessment measures your employees’ communication preferences so you can create a more cohesive work environment. Learn more at YourNHPA.org/disc ASK KIM

EXPERT ADVICE

A Success Guide to Pitching Ideas

What do I do when my boss doesn’t want to hear my ideas?

—Assistant manager, multistore paint operation

It can be frustrating when your boss doesn’t seem receptive to your ideas. Here are a few strategies you can use to get your ideas heard.

• Create a plan: Planning ahead is crucial. It’s tempting to act on your ideas immediately, but taking a moment to think things through before discussing them with your boss can make your approach more effective.

• Pick the right moment: Timing is everything. Catch your boss when they’re not busy or stressed. Setting up a quick meeting can be better than dropping your idea out of the blue.

• Understand their perspective: Try to understand why your boss might not be open to your ideas. Maybe they are focused in different areas or they simply need more information.

• Align with the company goals: Present your ideas in a way that aligns with your company’s culture and goals. Demonstrate how your ideas can solve a problem or add value to the organization.

• Be prepared: Come prepared with data, examples and a clear plan. Get to the point quickly to maintain their attention and interest.

• Try a different delivery: We all have different communication styles, so consider what delivery type will work best for your boss. If you’re always presenting your ideas verbally, try writing out your plan.

• Be open to and seek feedback: If your idea isn’t approved, ask for feedback on how your idea can be improved to be considered in the future. Seeking feedback shows you are open to improvement and willing to understand their perspective.

• Share any successes: If your idea has been successful for you personally, and you believe it could benefit your team, explain how and why it will be helpful for others.

• Stay professional: Even if your ideas aren’t immediately accepted, remain professional and continue to contribute positively.

When you focus on improving your overall communication, sharing new ideas becomes easier. Be cognizant of your communication style and others around you. The key is to adapt your message to ensure it is received. For me, utilizing my DiSC assessment really helped with this. Keep the good ideas coming. I can’t wait to see what you will do next.

Now, let’s go out and make a difference in someone’s day today!

Kim Peffley Director of Organizational Development & Consulting North American Hardware and Paint Association

Kim Peffley is the director of organizational development and consulting with the North American Hardware and Paint Association (NHPA). With 30 years of retail experience, her management and leadership knowledge enables her to offer professional training covering many aspects related to effectively leading a team in a home improvement retailing environment. Peffley leads retailers through comprehensive organizational change to improve internal communications and create stronger teams.

TRENDS

RESEARCH

More Independent Insights

The deadline to participate in the 2024 Cost of Doing Business Study has been extended to July 15. Participate in this industry benchmarking tool at YourNHPA.org/codb

HOW ARE YOU INVESTING?

MEASURING THE PERFORMANCE

of independent home improvement operations helps the entire channel understand how they compare to the industry at large. Since 2022, the North American Hardware and Paint Association (NHPA), in partnership with The Farnsworth Group, has

fielded the Independent Retailer Index, which tracks key performance metrics on a quarterly basis. We recently surveyed retailers on their performance in the first quarter of Q1 compared to Q4 2023. See highlights of the data here and download the full report at YourNHPA.org/retailer-index.

Be sure you’re on the list to receive the newest data from the Independent Retailer Index every quarter. Head to YourNHPA.org/research to subscribe

FREE DOWNLOADABLE RESOURCE

Live Oak Bank’s Guide to Buying a Business

As hardware store acquisition loan experts, Live Oak Bank knows what a successful ownership transition entails and shares comprehensive insights in their Guide to Buying a Business. Scan the QR code below to download the free guide.

Meet Live Oak Bank

Live Oak Bank’s hardware store experts fully understand the nuances of your specific business model and will support you with customized banking products focused on your success. Live Oak offers loans, business checking and business savings nationwide. Beyond the traditional banking experience, they strive to be an asset to each one of their customers by turning obstacles into opportunities and by helping you avoid costly mistakes. Let their team confidently guide you through the business banking or loan process and craft a unique plan that will help you and your business thrive.

Email brian.misenheimer@liveoak.bank

PARTNER COLUMN

Get the Funding You Need For Your Hardware Store Quickly

any retail hardware store owners need capital for the acquisition of another location or store improvements, but traditional loans seem out of reach. The money required is often too small to be worth the hassle for traditional banks. Additionally, some hardware store owners may need the funds quickly to take advantage of an opportunity or address an immediate need. Unfortunately, the slow approval process of traditional loans could result in missing out on the opportunity.

Live Oak Bank’s new lending program, Live Oak® Express, is designed specifically for small businesses that need funding fast. The program offers loans ranging from $10,000 to $500,000 with terms of up to 10 years. The loan process is streamlined, with fast closing and transparent costs. There are no prepayment penalties or hard credit inquiries, and documentation is simple.

For loan approval, businesses must have been operational for at least two years, maintain an excellent credit history and be current on all outstanding debt.

Store owners may be able to utilize the Live Oak® Express program to quickly acquire a small existing hardware retail store for under $500,000.

If outdated technology, signage, inventory and store layout prevent you from maximizing profits, consider capitalizing updates or a complete store remodel. Increased levels of relevant inventory, new fixtures, new décor package and a fresh coat of paint could be just the thing to bring in more customers and boost sales. Additionally, updated technology and additional staff can help you manage your inventory and customer service more effectively to maximize profitability.

Live Oak® Express offers a fast and easy solution for hardware retail store owners who need funding to improve their business. With a streamlined application process, expedited closing and no prepayment penalties, Live Oak® Express can help you get the money you need to take your business to the next level.

With Live Oak’s competitive rates* and terms, you can expect a streamlined application process and personalized service. Live Oak® Express can help you take your business to the next level. For more information, please visit info.liveoakbank.com/express

Brian Misenheimer Vice President, Franchise Lending Live Oak Bank, Member FDIC

NEW PRODUCTS

Retailer Recommendations

Send a note to editorial@YourNHPA.org about products you can’t keep on the shelf. Include your name, your business name and why you love it.

Light Switch

The SwitchLight is an innovative light switch cover plate with built-in LED lights that are activated by an automatic dusk-to-dawn on/off sensor. It can be quickly installed without any wires, batteries or electrician required. The SwitchLight provides beautiful night accent lighting for your home and makes it easy to spot your light switches in the dark.

SNAPPOWER | snappower.com

Terracotta Tile

With glazed terracotta tiles, mosaics and trims in five designs, the Traces Terracotta collection from Country Floors showcases organic modern interior design. Inspired by the tones of the Greek islands, the minimalist colors of white, beige, brown and blue bring a soothing touch. The glazed finish provides a handmade, artisanal look, creating welcoming spaces.

COUNTRY FLOORS | countryfloors.com

Construction Adhesive

DAP HD Max Construction Adhesive is a high-performance, premium moisture-curing adhesive that bonds in extreme temperatures. This adhesive delivers a durable and waterproof bond, provides adhesion to nonporous building materials and is available in 9-ounce and 28-ounce tubes.

DAP GLOBAL | dap.com

Photo courtesy of SnapPower

Deck Spacer

The Deckhand Spacer Pro is an all-in-one deck spacing tool made from Grade A steel, providing extreme durability. It is coated with a high-gloss black powder to protect against rust. With accurate cutouts for 12-, 16- and 24-inch center spacing, the Deckhand Spacer Pro saves time and ensures accuracy when building a deck.

THE DECKHAND COMPANY | deckhandtools.com

Children’s Tape Measure

“Lola” is a bird-themed tape measure for all children’s projects and activities. Measuring 8 feet, this retractable measuring tape provides reach while being compact. Along with offering measuring capabilities, the eye of the bird is a level.

HANDY FAMM | handyfamm.com

“Traeger is one of the top grill brands that also sells many other accessories. The pellets specifically provide a reason for customers to return whenever they run out.”

—Jay Simpson, True Value of Rock Hill

Smoking Pellets

Traeger Signature Blend

Pellets are a mix of hickory, maple and cherry woods and come in 10-, 20- and 30-pound bags. From classic barbecue meats to fish and veggies, this versatile blend is made in the U.S. and contains no binders, producing no ash.

TRAEGER PELLET GRILLS traeger.com

Tabletop Planter

The Savannah Planter is a patent-pending tabletop centerpiece that comes in three colors. It is made of high-density polyurethane plastic that fits onto a patio table or on ground umbrellas. The planter was made in memory of Savannah Erwin, with every planter including a free packet of “Savannah Sunflowers” and a portion of every purchase going toward the Savannah Erwin Memorial Fund.

THE SAVANNAH PLANTER savannahplanter.com

Adjustable Belt

The Groove Belt® Ultra is a lightweight, durable and versatile belt featuring a nonslip locking bar mechanism, curved polymer buckle and thin webbing for a secure and lightweight feel. It is machine-washable, made in the U.S. and backed by Groove Life’s 94-year warranty.

GROOVE LIFE CORP. | groovelife.com

Smokeless Firepit

Weighing only 20 pounds, the Bonfire 2.0 is a smokeless firepit built for the backyard and beyond. It is crafted with a double wall that offers superior airflow. Flames get 400 degrees hotter than conventional fires, eliminating smoke and creating fine ash. Cleanup is also easy with no tools required—simply remove the ash pan under the base and empty.

SOLO STOVE | solostove.com

Water Absorbing Crystals

Oatey® Liquilock™ Water Absorbing Crystals solidify water in four to five minutes to help prevent drips and leaks when removing toilet fixtures or replacing old water heaters. The nontoxic, biodegradable gel dissolves when additional water is added. It is septic tank-friendly and flushes away with water once toilet repair is complete.

OATEY | oatey.com

Did you know 55% of transactions take place outside of business hours?

With the combination of Spruce and Spruce eCommerce, you can capture more after-hours revenue without sacrificing time at the family dinner table.

Drop Cloth Pads

Designed specifically with small spaces in mind, FrogTape™ Drop Cloth Pads make it easy to protect the floors and other surfaces when painting. The leak-proof liner protects the floors below, while the slip-resistant bottom holds the pad in place, helping to provide a safer surface for standing and working. The drop cloth pads are also a great spot to place paint or other supplies and can be easily moved around any room.

FROGTAPE | frogtape.com

•

• Impact

• Saws

• Grinders

• Oscillating Tools

LOG SPLITTERS

• Kindling Cracker

• Kindling Cracker XL

Wood Grill Scraper

The Woody Paddle is an all-natural barbecue cleaning tool and wood grill scraper. It is an alternative to the old metal wire brush and its custom grooves uniquely fit the barbecue grill without having to worry about damaging grill grates or metal bristles getting into the food.

THOMPSON BROTHERS & COMPANY | greatscrape.com

• 24-Ton

• 30-Ton

• Skid Steer Attachments

CONSTRUCTION

• Multi-Use Mixers

• Concrete, Mortar, or Stucco

Caramel Puffcorn

From Real Soda Midwest, Puff Happens are crunchy and chewy puffcorn covered in a salted caramel coating. Each 10-ounce bag has a nine-month shelf life. REAL SODA MIDWEST | realsodamidwest.com

•

TANGLING UN THE WEB

How 3 Retailers Approach Unique Online Strategies

BY MELANIE MOUL

The question is not will e-commerce and web-based businesses supplant brick-and-mortar retailing… but will it simply leave you behind if you don’t adopt the technology and integrate e-commerce into the core of your business.

If you were to guess when that paragraph was written, you might say it was last week. Or maybe it was the height of 2020 when retailers were scrambling to put their inventory online and set up curbside pickup.

Would you believe it if you learned it was from a column by former Hardware Retailing editor-in-chief Mark Parrott published in December 1999?

Whether you can fathom it or not, retailers large and small have been trying to capture customers’ attention online for the better part of 30 years. Independent home improvement retail hasn’t been at the forefront of online strategy or e-commerce, likely because the channel hasn’t needed to compete against online giants in the same way as

Leading Data

Father-son team Taylor (left) and Virgil Cox share the philosophy that accurate product data is what sets Cox Hardware & Lumber apart online.

RESEARCH

Clicks By the Numbers

The complete 2024 Independent Home Improvement E-Commerce Study is available to download now at YourNHPA.org/ecommerce COVER STORY

say their independent bookseller counterparts. The industry has benefited from consumers’ desires to pick up a drill, match paint to their curtains or consult the decades of knowledge that often resides inside the four walls of their local hardware store.

But the dynamic has changed.

Even in the last several years, and most definitely since 1999, customer expectations around a retail experience are significantly different. And the North American Hardware and Paint Association (NHPA) wanted to find out how retailers have been responding to those changes.

In a recent survey to about 200 retailers representing nearly 600 stores, NHPA asked respondents to share their approach to an online presence, including websites, e-commerce and digital marketing. Some respondents were gracious enough to offer additional insight into their strategies. On the following pages, learn from three of those retailers about their distinct approaches to being online.

COX HARDWARE & LUMBER

Been online since 1999

E-commerce is 2.5% of overall sales

coxhardware.com

For nearly 80 years, Cox Hardware & Lumber has been serving downtown Houston across three distinct segments. What started as a small business running out of a rented storefront behind Henry and Mary Cox’s family home is now a hub for commercial, industrial and residential business across southeastern Texas and beyond.

Taylor Cox is a purchaser and manager for the operation and is the fourth generation to be involved in the business. He joined in 2016 after serving in the U.S. Army.

The store carries about 31,000 SKUs, including traditional hardlines categories, with about 8,000 SKUs in fasteners alone, in addition to a large selection of abrasives, cleaning supplies and paint and industrial coatings. The lumber department is housed in a 7,000-square-foot pole barn, along with an acre of outdoor storage.

“We’re inside the loop here in Houston, which is the industrial belt,” Taylor says. “We kind of act like an industrial distributor.”

Virgil Cox has been involved in the business since he was in junior high in the early 1970s, and he started the company’s initial foray into a web presence. In the 1980s, Virgil compiled product information, including images, SKUs and manufacturer details, into comprehensive catalogs spanning nearly the store’s entire inventory,

printing and mailing 5,000 copies. In 1999, he led the process of converting the catalogs into the company’s first website in order to drive online traffic into the store. Taylor says driving in-store traffic is still the basis of their online strategy today, although the website has undergone numerous updates since that first iteration, including several major e-commerce enhancements.

About 2.5% of the company’s overall sales are online transactions, but Taylor estimates that percentage would be higher if it incorporated implicit sales.

“Someone will walk in with our website pulled up on their phone and buy a product they found online in store,” he says. “And a lot of customer phone calls are about something they see on the website.”

The current version of the website was initially developed about 10 years ago, and Taylor says it was built to extend the store to their customers’ desktops. The landing page allows shoppers to choose items from a list of departments, brand names or search for a specific item or part number. It also shows the featured items, including sale items and new products. Each individual item listing includes the SKU, brand name, item weight and quantity available. At the bottom of the page, there are recommended items that are related to the product, whether they are frequently purchased together or are items that are needed to use the selected product.

Taylor says about 60% of the product information comes from their wholesalers, but the remaining information they source from the vendors they buy from directly. Taylor says about 60% of orders are buy online, pickup in store and the remainder are shipped from the store’s inventory throughout the contiguous U.S.

Website manager Joann Rodriguez has been with the company for 28 years and was present for the website’s inception. Today, she oversees the website’s operation and day-to-day tasks such as SKU deletions, product data enrichment. For other more complex maintenance and issue resolution, they rely on their developer who is based in Boston. Shipped orders are managed by another team member.

“The team we have managing website updates and orders is integral to the success of the site,” Taylor says.

The store primarily uses UPS for shipping and customers pay for shipping. Taylor says they don’t offer free shipping, but some items are eligible for a quantity discount, which they also offer to in-store customers. For some people, the shipping is worth it if it means they can access hard-to-find items. They recently had a customer order one sheet of crocus cloth for $1.20 and pay full price for shipping because he wasn’t able to locate the product anywhere else.

About two-thirds of the orders placed online come from commercial/industrial customers. Customers with store accounts are able to pay with a purchase order online and have the option to log into the website and see their order history, which is a big draw for Cox’s large professional customer base.

A major challenge for online retail is to maintain repeat business, Virgil says.

“It’s easy to get someone to visit once, but in order to get them to return again and again, you have to offer something that the customer wants, or even needs, that is unavailable elsewhere,” he says.

For every product on the Cox Hardware website, inventory detail like quantity on hand, quantity on order, price and available discounts are served to the website every few minutes all day long from the in-store server. The information is date and time-stamped, which Virgil says is to communicate relevance to potential customers. The goal is for that dynamic product data, combined with relevant product descriptions and images, to give enough information for customers to be able to make a purchase decision.

A critical piece of a successful e-commerce strategy is accurate inventory, and the Cox Hardware & Lumber team takes that seriously. Each department head counts a certain amount of their department every day using an RF gun. Progress is tracked in the office and updated on a fixture map of the salesfloor, showing the store manager the count status of the whole store. Additionally, management staff check the previous day’s counts and double-check variances for accuracy. Those variances are communicated back to staff and are a key performance indicator of reviews.

That data is what sets Cox Hardware & Lumber apart from other operations, either in-store or online, Virgil says.

“People go to the web for information,” he says. “Our commitment, dating back to our catalog days, has always been to provide our customers with all the information they need to be sure they’re getting the right product. The website makes it easy for them to find that information quickly. Our process ensures that the data we present is accurate and trustworthy. This lets us extend our store to our customers’ computers or phones.”

While Taylor and Virgil are happy with the system they have in place, at a decade old, they understand that this version of the website could use an update. The next phase is modernization, mobile optimization and assessing the content.

“We have parts of an update prepared, but we’re still testing it out,” Taylor says. “We have a lot of data now, and we’re looking at ways to integrate that with vendor and manufacturer data.”

Taylor says retailers who haven’t gotten online should consider what it can do for their business, even without e-commerce, from a visibility perspective.

“Our website is integral to our business. We’re getting really good with lead generation. If people search for something like ‘hardware store in Houston,’ we’re near the top of the results,” he says. “If you’re not online, you need to look in the mirror.”

Managing the website is a team job at Cox Hardware & Lumber, including (from left to right) online sales coordinator Coreena Sims, purchasing manager Taylor Cox, website manager Joann Rodriguez and manager and owner Virgil Cox

FAMILY HARDWARE

Built website internally

E-commerce is 25% of overall sales

familyhardware.com

Bringing first-time customers into your business is a challenge every retailer contends with, regardless of how long an operation has been in a community. For a business to make 25% of its overall sales from single-purchase or first-time customers seems nearly impossible. But that’s the case for Family Hardware and its e-commerce program.

Family Hardware in Cape Coral, Florida, opened in 1976 under a different name and was operated by several owners until current owner Jeremy Peterson bought the business in 2012. He built a second store in a converted strip mall in Fort Myers in 2022. Peterson has made significant investments in the business to create the reputation of “family,” specializing in offering a customized experience for every customer who walks in the door.

A customized experience is what online shoppers get as well. And it’s truly custom, as the POS, website and e-commerce platform Family Hardware uses is a completely tailor-made system that Peterson and a developer built entirely themselves.

Peterson says he does not have a formal education in IT but grew up surrounded by technology and enjoys experimenting with innovation.

“When I was redesigning and updating the company website, the backend was similar to what we needed for the POS system,” Peterson says. “So as were getting the store in Fort Myers ready to open, we were building out the website and POS system with the developer. We were able to get the new POS system ready for launch on Day 1 of the store opening.”

While going out on his own was a big risk, for Peterson, his willingness to create his own solution paid off with a successful system that he also implemented into the original location.

“We learned that just because you pay for a service, doesn’t mean it is always going to work for you,” he says. “There is a sense of pride in knowing that our system fulfills our needs.”

The system they were running e-commerce on before building the new platform didn’t meet Peterson’s expectations. The system couldn’t accommodate all of the SKUs they wanted to be able to sell, which includes over 60,000 items from their wholesaler and products sourced from other vendors.

“The previous platform didn’t manage traffic well, and if any little thing broke, it would crash,” he says. “The new system is so fast, and it performs well on mobile.”

In just two years, the new e-commerce platform now brings in about 25% of the company’s overall sales, and Peterson says most of those are small orders for niche products.

The 2024 Independent Home Improvement E-Commerce Study gives insights into the spectrum of the independent channel’s approach to being online. You’ll find data around the platforms your peers are using, where they’re getting their product information, how they manage orders from in-store pickup to delivery and the tools they find most successful for digital marketing. To see the complete report, go to YourNHPA.org/ecommerce of overall sales on average

of respondents have e-commerce 49%

3.4% E-commerce represents about of total e-commerce sales are buy online, ship to home 33%

Source: Independent Home Improvement E-Commerce Study, NHPA, 2024

Generally speaking, every e-commerce sale is the result of someone with a problem searching for a solution on Google or another search engine, Peterson says. His goal with the Family Hardware e-commerce site is to be near the top of their search results and earn that sale.

Peterson connects his store’s inventory to Google Products, which means when someone searches a part number or a product name, Family Hardware’s inventory shows up in the product results at the top of the page.

“Our website traffic is purpose-driven,” he says. “People can’t find a product locally, so they search for it online, and our website comes up for them.”

Peterson says the most challenging part of driving sales online is determining what products to promote so they show up on Google Products. He spends a few hours a week putting Google Ads marketing dollars behind certain products to try to push them to the top of search results.

“You can’t single out one item that does well because as soon as you focus on something, the trend goes away,” he says. “The more you tweak the products you’re promoting, the worse it is. It’s very important to tweak and observe. In the beginning, I was very guilty about tweaking and not giving it time to work before fixing it again.”

Right now, Family Hardware only offers buy online, ship to home, and shoppers pay for shipping up to a certain dollar value. For the majority of items, they charge a $3.99 flat fee for shipping, and then depending on the margin, orders over $49 or $75 earn free shipping. The system automatically calculates the shipping fee. For expedited shipping, shoppers have the option for UPS or FedEx, which they pay for regardless of the basket size.

“People are willing to pay for shipping if they really need an item,” Peterson says.

All of the orders are shipped from one of Family Hardware’s wholesaler’s distribution centers, whichever is closest to the shopper. Peterson says this system works well for him, and it wouldn’t make sense from a labor perspective for him to bring someone in-house to manage orders and shipping from the store.

Peterson also relies on his wholesaler for product information management, or PIM, whether it’s images, product descriptions or specifications. He says when building an e-commerce website, PIM is the most important component. The second most important piece is the search function, which is closely tied to the system being able to suggest related products or products that are frequently purchased together. On the Family Hardware website, nearly every product shows variations of that item, for example, a PVC elbow that comes in a few different sizes. Each available size is shown as an option underneath the selected item.

While buy online, pickup in store is something he has considered implementing, since the majority of their online shoppers are from anywhere in the contiguous U.S., Peterson says it’s not part of the next phase. In the meantime, the item quantity is shown for every product that Family Hardware also sells in-store, so if someone is local, they know how many are available.

The next investment he wants to make is to add a loyalty program into the customer accounts so they can garner more repeat online shoppers. Right now, because the system is tailored to providing online shoppers with niche items or things they can’t find locally, there aren’t a lot of returning shoppers. By adding loyalty, Peterson expects to be able to grow that segment and encourage local shoppers to buy online using their Family Hardware loyalty account.

“By bringing rewards into it, people are gaining something tangible from shopping on our website,” he says. “With loyalty, we can send out emails and remind people that they have reward dollars to spend, and hopefully that will drive more recurring traffic.”

TRUE VALUE OF ROCK HILL

No website

Annual revenue: <$2 million

The legacy of True Value of Rock Hill goes back further than the store’s four-year history.

Co-owner Jay Simpson’s father owned and operated a hardware store in nearby Chester, South Carolina, and Alex Dorsey started working at that store as a teenager. The company and the ownership team, which included Simpson’s father and another business partner, had spent decades developing a reputation for service, knowledge and overall goodwill.

After 16 years in the business and earning an ownership stake in that business, Dorsey wanted to start his own store. At the time, Simpson had recently graduated from college and wasn’t sure what his next steps would be.

“Even though my dad had owned the store while I was growing up, I had no experience in the industry,” Simpson

Family Hardware owner Jeremy Peterson developed a custom POS that integrates into his e-commerce platform, ensuring accurate inventory for online customers.

says. “But I thought I would give it a shot. It was certainly a big learning curve, but I learned that if you take care of your customers, they’ll keep coming back.”

Simpson and Dorsey worked with their wholesaler to open up the store in Rock Hill, which is about 20 miles from Chester and about the same distance from big-box competition. Dorsey and Simpson were confident that the reputation at the Chester store would carry over into the new location.

They planned the store’s grand opening for April 2, 2020, the same day the state of South Carolina issued businesses to close due to the pandemic.

“We didn’t know what was happening,” Simpson says. “We probably stayed closed for about a month.”

Eventually, hardware stores were deemed essential and the store was able to reopen. In the meantime, Simpson had connected with a local veterinary lab that had started making hand sanitizer. True Value of Rock Hill became the only distributor of hand sanitizer in town, eventually selling over 15,000 bottles. They also started stocking face masks, including handmade ones from area residents. The store also donated PPE and sanitizer to local first responders.

“We kind of became a sanitary shop as well as selling hardware,” he says.

Since then, the business has continued to serve the community in unique ways. True Value of Rock Hill typical customers are DIYers over the age of 50 who are shopping for plumbing, electrical and lawn and garden supplies. Homes in the area are about 50 years old in average, so maintenance or repair projects make up the majority of sales. The 8,500-square-foot salesfloor is home to core hardlines products, and there is a power aisle for outdoor power equipment. But Simpson has also forged relationships with local farmers to serve as another place for shoppers to access fresh food. The store stocks frozen meat, raw milk, lettuce and eggs. They also sell canned goods and local grilling spices. Simpson says the raw milk draws people over 30 miles away from North Carolina, which has different regulations around raw milk sales.

The primary way the store communicates to customers about sales, new products and produce availability is through the True Value of Rock Hill Facebook page. The store doesn’t have a website, and Simpson says it’s not a priority for him right now because they have such a loyal following on social media.

Currently, the store has about 1,600 followers, and each post garners a handful of reactions, comments and shares. A post celebrating Dorsey’s birthday received 95 comments.

“We use Facebook as our primary source of advertising,” Simpson says. “We try to be very personable. It’s very relaxed. We’re not just the True Value store, we’re people of the community. We’re not just trying to make a profit, we have fun too.”

Simpson says the Facebook page is managed by a friend of his who stops by the store nearly every day to take photos and find out what promotions and sales are running. The majority of the posts are photos of staff, new displays or even just a simple photo of the store’s paint department. The process may be unconventional, but it’s

working for them for the time being. Simpson also has access to the account and posts as needed.

The next phase of the operation’s online presence will be focused on digital marketing. They recently signed up for their wholesaler’s digital ad program that uses geotargeting to push ads out to people in the store’s service area. Simpson says the goal is that it will boost revenue by $30,000, and it’s managed by their wholesaler, so they don’t need to invest time in it on a day-to-day basis.

“We just started it, so we haven’t seen results yet, but we wanted to try it to see what it would bring in,” he says.

Simpson says the time it takes to set up and manage a website is not something he can prioritize right now. Customers call and ask about a product, and he is happy to place the order for delivery on the next truck, which takes about three days. He says sometimes people call in thinking they are calling a different local store, but he’s happy to source an equivalent product and match the price.

To fill the e-commerce gap, Simpson says he considered selling on Amazon, but the fees they would take off the top of the sales made it cost prohibitive.

“I’m not against a website, I just don’t see a huge need for it at the moment,” he says. “We would probably have to hire someone full time to manage it, and that’s not in the cards right now.”

Jay Simpson (left) and Alex Dorsey operate True Value of Rock Hill with a philosophy rooted in customer service, camaraderie and a good product mix.

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INDUSTRY

EVENTS

See You in Chicago

Don’t miss the HIRI Summit, September 18-19 in Chicago, to connect with the industry’s leaders in data and learn firsthand about the top issues shaping home improvement. Register today at hirisummit.com

OUTSIDE

6 Trends Shaping Homeowners’ Approach to Outdoor Living

Provided by the Home Improvement Research Institute

The summer season is underway, which means two things for home improvement retailers. First, the Home Improvement Research Institute’s (HIRI) latest Size of Market report, a biannual update providing five-year market forecasts for materials and products used in home improvement projects, is now

available. Retailers not yet members of HIRI should strongly consider joining to gain access to this invaluable resource. Second, with summer in full swing, outdoor living spaces take center stage for homeowners. To capitalize on this seasonal shift, retailers should note some trends among homeowners, based on HIRI research.

2

Project Motivations Have Evolved

Back in 2021, respondents to HIRI’s Project Decision Study reported repairing or maintaining their homes, increasing property value and pleasing their families as top reasons for deck, patio or porch projects. By 2023, though, the focus had shifted toward updating or adding features to their homes, finding satisfaction in a job well done and enjoying working on their house.

Living Areas: Completed Activities

Spending Behaviors Have Changed

Compared to 2017, fewer projects were financed with cash-on-hand in 2023 (60% to 49%), while savings account usage rose from 17% to 25%, reflecting an increased need to save up for outdoor prices. On average, homeowners spent $7,633 on patio, deck and porch projects, significantly more than the $4,207 average for all projects.

Shifting Popularity of Outdoor Additions

According to the HIRI Quarterly Tracker, deck installation, repair or replacement remains the most popular outdoor improvement activity among homeowners, followed closely by exterior painting. However, porch and patio installations or repairs experienced notable upticks throughout 2023. Conversely, the popularity of railing additions to decks, patios and porches has tapered off since 2017.

New Patios, Decks & Porches Take the Lead Over Replacement

While 2021 saw a near-even split between replacement and new patio, deck and porch additions, 2023 witnessed a normalization in the number of new projects, with two-thirds falling into this category, mirroring the pre-pandemic figures.

5 Homeowners Seek Assistance

Only 12% of homeowners reported completing patio, deck and porch projects entirely by themselves. This is compared to an average of 28% opting to DIY entire other projects without support from family, friends or pros.

How Project Was Completed

$7,633

The average homeowners spent on patio, deck and porch projects in 2023.

6 Extended Lead Times

Outdoor projects require an average of 17 months to materialize from project idea to completion, compared to 15 months for other indoor home improvement projects. The main hang-up occurs in the decision stage, when homeowners take three months longer than average to move from having the idea to starting on outdoor projects. Retailers should be mindful of this longer lead time and tailor their strategies accordingly to expedite the decision-making processes.

In fact, you can use all the data shared to optimize offerings for the summer surge in outdoor improvements. Knowing homeowners’ current behaviors will help you meet customers where they are, providing timely inventory and project tips.

BIY - Hired Other Pro

Both DIY and Hired Pro (BIY)

1

Reconnect. Recharge. Rethink.

10 Reasons to Attend the 2024 Independent Home Improvement Conference

There is still time to book your trip to the Independent Home Improvement Conference (IHI Conference) and experience three days of education aimed at bringing ROI to your business. Discover new ideas and solutions from exciting keynote presentations, engaging panel discussions,

four breakout tracks and educational partner events at the IHI Conference, taking place August 27-29 in Marco Island, Florida. Still not convinced the IHI Conference should be on your calendar for 2024? Here are ten reasons why you can’t miss the industry event of the year.

GAIN ROI FOR THE MODERN MARKETPLACE

Revolving around the theme of Retail Operations and Innovation (ROI), the IHI Conference will focus on delivering attendees actionable ideas and content they can take back to their operations and drive improvements in today’s ever-changing and dynamic retail environment.

CONNECT WITH THE INDUSTRY

The hundreds of attendees will include retailers from virtually every wholesaler, store type, size and location, so you’ll be in the perfect place to expand your network for best practices.

GO OUTSIDE YOUR CIRCLE

Several industry partners, including Epicor, Do it Best and Orgill, will be hosting partner events throughout the week, welcoming all conference attendees to enjoy educational sessions and networking events to connect with the industry.

DISCOVER PRODUCTS AND SOLUTIONS

In between breakout and general sessions, connect with some of the industry’s most innovative vendors in the exhibitor area and meet companies that can help you improve your ROI and more.

ENGAGE WITH EXCITING KEYNOTES

The main stage hosts three dynamic keynote speakers who will inspire, educate and illuminate.

Keynote speakers include Al Comeaux, change management expert and former executive at Travelocity, GE and American Airlines; Arthur Greeno, owner and operator of two Chick-fil-A restaurants in Tulsa, Oklahoma; and Daniel “Rudy” Ruettiger, former Notre Dame football player and inspiration for the hit movie “Rudy.”

INDUSTRY EVENTS

Breakout Sessions Are Filling Up!

The IHI Conference keynotes, panels and breakout sessions will refresh, redesign and recharge how you think about retail operations and innovation (ROI)—learn more and register at ihiconference.org

Making History

Meet Keynote Speaker Daniel “Rudy” Ruettiger

Not often does a person’s determination and grit lead to a movie made about their life.

Daniel “Rudy” Ruettiger is one of those rare cases, with his life portrayed in the popular movie “Rudy.” As the son of an oil refinery worker and the third of 14 children, Rudy rose from valleys of discouragement and despair to the pinnacles of success. It took years of fierce determination to overcome obstacles and criticisms, yet Rudy achieved his first dream—to attend the University of Notre Dame and play football for the Fighting Irish. Before he shares invaluable insights into his mindset and approach to overcoming adversity as a conference keynote, Rudy shared details of his journey to realize his dreams.

Hardware Retailing (HR): What was it like growing up in a large family? How did those experiences shape you?

Daniel “Rudy” Ruettiger (DR): It’s like being in the military. When I was in the Navy, we were very organized and everybody had a job, and growing up in a large family was similar to that. My mother had to be that way because my father worked three jobs; he was very disciplined too. Everybody was synchronized and organized, we ate at the same time and did our chores at the same time.

When you’re from a large family, you’re in survival mode getting through day-to-day life so there’s not a lot of time for dreaming. It’s not that my family didn’t want to help me achieve my dreams, they just didn’t know how because we were so busy and really had no time to think about it. But we did have fun together, playing sports and talking.

THANK

HR: During your time at Notre Dame, did you ever think your story would be widely told and positively impact so many people?

DR: Definitely not. Everything I did, I did one step at a time. My first step was to get to junior college and do well there. So I never thought of it as a story or as a movie; that all came later after I looked back and reflected on how I got through it all by achieving the small goals in order to get the big goals.

HR: Why is it important to stay focused when pursuing your dreams?

DR: You stay focused when you’re passionate. We dream a lot of dreams, but not all are real dreams, some are just fantasies. When it’s a real dream, that’s when you become focused and determined because you see what it takes to make it happen. You don’t worry about obstacles or challenges, you just move forward, and when they come, you handle them. Some people don't think the dream is worth it or it’s not for them, but if it’s embedded in your brain and your heart and your soul, it is for you, and you need to stay focused to achieve it.

HR: What does it mean to you to live with purpose?

DR: Purpose is so important. If you don’t have a purpose, you have nothing. The only reason I went to Notre Dame was for my family, my father and mother. They could not dream that type of dream because they were so caught up just getting through life, jobs and the kids. I guess I wanted to show them the freedom of a dream. I was doing it for them, and every time I wanted to quit, I thought about them and it made me work even harder.

Visit hardwareretailing.com/2024-keynotes to read the Q&As with the IHI Conference’s other keynote speakers, Arthur and Al.

Time is running out to get your tickets and hotel rooms. Visit ihiconference.org today!

LEARN FROM EXPERTS

The main stage will also host three panel sessions led by industry experts and fellow retailers sharing insights on employee hiring and retention, reaching growth goals and innovating in your operation.

DIVE INTO SPECIFIC TOPICS

The IHI Conference morning breakout sessions will deliver curated insights with specialized breakout sessions delving into technology, operations, employee engagement and marketing, merchandising and advertising.

AUGUST 28 | 1:30 P.M.

Beyond Survival: Creating Growth in a Flat Economy

Hear from a dynamic group of retailers who make strategic choices to drive growth in their operations, regardless of what the economy has in store.

Panelists: Dave Ables, Three Sons Hardware; Jeff Grasty, Florida Paints; Josiah Gates, The Aubuchon Co.

AUGUST 29 | 1:15 P.M.

Why Is This so Hard? Navigating the Labor Dilemma

This panel offers a platform for attendees to glean insights from industry leaders who are pioneering unconventional methods for sourcing, retaining, motivating and compensating their teams.

Panelists: Gina Schaefer, A Few Cool Hardware Stores; Yilda Marte, Sunshine Ace; Leonardo Osorio, Sunpro

AUGUST 29 | 2:15 P.M.

Innovation Unleashed: Inspiring Stories From NHPA Top Guns Honorees

These industry luminaries share their remarkable stories of innovation, community stewardship and strategic vision that have shaped the landscape of independent home improvement retail.

Honorees: Glen Morosohk, Ricciardi Bros.; Wendy Stine, Stine Home + Yard; Darren Tomasini, Dazey's Supply

QUARTER PALLETS

8 CELEBRATE THE INDUSTRY’S BEST

During the IHI Conference, three prestigious industry awards—the Beacon Awards, the Top Guns Awards and the Young Retailer of the Year Awards—will honor retailers making positive impacts in their operations, their communities and the industry as a whole.

9 BE A WINNER

IHI Conference attendees will have the chance to win two big giveaways. The winner of the Lead to Succeed Giveaway will receive an NHPA In-Store Leadership Training and the winner of the Race Day Giveaway goes home with tickets to the 2025 Indianapolis 500.

ENJOY FUN AND SUN

The IHI Conference will take place at the stunning JW Marriott Marco Island Beach Resort. Before and after conference events, you’ll have plenty of time to take in beautiful beachfront views and enjoy the resort’s three pools, golf, excursions and more. 10

BECOME A DEALER

• High quality products, made by welders, for welders

• Committed to supporting your company’s growth plans

• High fill rates, ensuring you get what you need when you need it

• Tailored customer service to make your experience hassle-free

• Drive sales with our signage, POP and marketing support

• Over 30,000 retail locations served

• On-site and online product knowledge training

• NEW and exciting product offerings

2023 NHPA Dream Team Giveaway winners pictured with Kim Peffley.

Don’t miss a special panel discussion with this year's honorees.

Photo provided by JW Marriott Marco Island Beach Resort

DFINDING THE PULSE

Following Hot-to-Stock Impulse Items

BY JACOB MUSSELMAN

riven by spontaneity, your store’s impulse category plays a crucial role in boosting overall sales. While a few dollars here and there may not seem like a lot, over time, they add up. These impulse items, typically small and inexpensive, provide instant gratification to customers and encourage additional spending beyond planned purchases.

Hardware Retailing spoke with two retailers who have succeeded with impulse products, boosting their sales and customer engagement by looking for unique options to stock, following the trends and engaging in creative merchandising to move product.

brownsborohardware

CATEGORY SPOTLIGHT

OPERATIONS

Tactics That Drive Sales

Look around your store to see how you can get the most impact by merchandising with impulse in mind. Learn more at hardwareretailing.com/impulse-merchandising.

Provide Unique Options

In 2017, when a solar eclipse made its way across the U.S., Doug Carroll, owner of Brownsboro Hardware & Paint, didn’t give much thought into purchasing eclipse viewing glasses.

His store is on the east side of Louisville, Kentucky, which was just outside the path of totality that year. In the weeks leading up to the eclipse, he noticed customers visiting his store asking if they sold viewing glasses. He came to the realization he should take that leap and purchased around 2,000 pairs.

“After we received our first shipment of viewing glasses, they didn’t last a week on our shelves,” Carroll says. “We were completely sold out within two days of stocking them.”

When Carroll bought the glasses, he wasn’t sure if they would sell or not.

“There was so much demand for them that I didn’t realize was there,” he says. “How often do you plan for an eclipse?”

In April 2024, Brownsboro Hardware & Paint was in the path of totality for another eclipse, and Carroll took his approach to eclipse glasses much more seriously.

“Being a local independent business, any opportunity you have to provide something unique to your customers to bring them into your store is very important.”

—Doug Carroll, Brownsboro Hardware & Paint

With around 5,000 followers across Facebook and Instagram, Brownsboro Hardware & Paint uses social media to its advantage when promoting impulse products. In the four months leading up to the eclipse in 2024, the store advertised its eclipse glasses on social media 14 times garnering 254 likes, 21 comments and 13 shares on Facebook and Instagram.

“This year, we searched around for multiple vendors and bought 2,000 glasses, and then placed an additional order for 6,000,” Carroll says.

When budgeting his eclipse glasses purchases, Carroll took into account what other stores close to him did in 2017.

“The eclipse glasses were not a crazy expensive investment,” Carroll says. “It was a bit of a risk because if they didn’t sell by April 8, the next eclipse in our area wouldn’t be for another 20 years, so they would be sitting for a while. To me, it was worth the risk because being a local independent business, any opportunity you have to provide something unique to your customers to bring them into your store is very important.”

Eclipse glasses at Brownsboro Hardware & Paint were merchandised in their shipping packages to help them stand out at the checkout counter.

Follow the Trends

Carroll relies on many of his employees who are active on social media to find trending products to stock on their shelves as impulse items.

“Having a successful impulse category is all about following the trends and being able to stock those items at the right time while they are still trendy,” Carroll says.

Being a small hardware store serving many customers in a tight-knit community, Brownsboro Hardware & Paint has a loyal customer base that relies on the store to stock what’s hot.

“Our customers look to us to find trending items because otherwise they may not come to the store,” says Joe Lilly, director of marketing and public relations for Brownsboro Hardware & Paint. “If they know we have candles, toys and gifts as well, it helps those customers make their way to our store for trending items and their hardware needs, and it leads to extra sales.”

Before Valentine’s Day, the decades-old job site staple, vacuum-sealed steel cup manufacturer Stanley announced a special color of its Quencher tumbler for the holiday, sending many consumers into a frenzy looking for stores with the limited color in stock.

In previous years, the Stanley brand was already a mainstay at many independent hardware stores, as its customer base was based around contractors who were using the drinkware. But in 2019, the brand began releasing new colors of its classic cups and adding new SKUs to cater to the average consumer.

“Having a successful impulse category is all about following the trends and being able to stock those items at the right time while they are still trendy.”

—Doug Carroll, Brownsboro Hardware & Paint

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“Over the last few years, we’ve noticed a different clientele, mainly the younger generation, coming in to shop for the Stanley glasses,” says Rick Remick, manager of Len’s Ace Hardware in Addison, Illinois.

Remick says Len’s Ace Hardware started stocking Stanley products in 2022 as they became available through his wholesaler. Once he started stocking more SKUs of Stanley products, Remick says his sales saw a major increase.

“It’s been so popular that both our wholesaler and Stanley haven’t been able to keep up with the volume we’re selling, and it’s all mainly the younger generations purchasing,” Remick says. “It’s been crazy seeing it take off.”

Another product Remick says started as an impulse item but over time became a shelf-staple is Carhartt beanies. While his store has always carried Carhartt products in its clothing section, Remick says he’s added over 40 SKUs just in beanies.

“Around 70% of the customers buying our beanies are younger,” Remick says. “It’s unbelievable how it’s not just guys anymore, it’s young women buying them now too.”

Remick is also involved with promoting their impulse products on social media, playing a role similar to a salesperson on the QVC network, inviting customers to come and check out the store’s cups and beanies.

23_001099_Carts_BlackRedTool_HalfHoriz_US_MXsp Mod: October 9, 2023 2:56 PM Print: 05/02/24 page 1 v2.5

Len's Ace Hardware uses social media to promote its selection of Stanley tumblers, along with special deals for in-store shoppers.

Len’s Ace Hardware’s Instagram page is filled with quick videos of Remick, other employees and the occasional four-legged friend promoting impulse products at the store.

Like at Brownsboro Paint & Hardware, by promoting items many potential customers don’t think about coming to a hardware store to purchase, the use of social media has correlated to a higher percentage of impulse product sales for the store.

“Our social media manager, Baylie Grimsley, uses social media in different and creative ways,” Remick says. “She’s always looking for new ideas and areas to concentrate on.”

Get Creative With Merchandising

Adding an impulse product to your store’s regular inventory involves strategic planning and presentation. Attracting customers’ attention and encouraging spontaneous purchases can be done by placing impulse items in high-traffic areas around your store.

Carroll says a store’s impulse category needs a combination of items that will generate interest and strategic merchandising.

“Some of our impulse products are at our checkout, but if we have impulse paint items, we’ll place those around the paint section so the chance of that extra sale is higher,” he says. “Look for opportunities like that to enhance the customer experience.”

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Carroll put extra thought into how to merchandise the eclipse glasses, utilizing the packaging the glasses were transported in to display them in multiple high-traffic areas around his store.

At the Louisville location, he displayed two boxes of eclipse glasses at the checkout lanes, one at their customer service desk and one in the store’s post office. The entire path people walk to get to the post office is lined with impulse items.

During the holiday season, Lilly says the store capitalizes on having a post office inside by expanding on the impulse items already in the checkout line, including adding a number of trending items to catch customers’ attention.

“Our post office is the busiest contract station in the state,” Lilly says. “Having that post office location in the store is such an advantage because when people come in to mail a letter, they're more likely to stop and look at the impulse items we have near the line. With it being at the back of our store, they also have to walk through the entire store to get to it.”

WHOLESALER CENTRAL

INDUSTRY EVENTS

Ace Hardware Fall Convention 2024

August 8-10 | Chicago

INDUSTRY EVENTS

Milestone Celebration

ACE FALL CONVENTION WILL BLEND INNOVATION AND ENTERTAINMENT

ACE

HARDWARE’S

FALL CONVENTION

takes place next month from Aug. 8-10 in Chicago. As the organization celebrates its 100-year anniversary, Ace strives to deliver a powerhouse event, combining innovation, celebration and entertainment.

To go along with a big anniversary, Ace Hardware will be unveiling a big attraction: the Store on the Floor. Ace has set out to build a full-sized “super format” hardware store right on the show floor, showcasing the latest products and innovations from Ace Hardware. Attendees will have the opportunity to explore this immersive experience, gaining firsthand insight into the future of retail within the hardware industry.

The upcoming convention also boasts a record-setting number of vendor booths—2,240. This unprecedented gathering of vendors underscores the convention’s status as a premier destination for networking, business development and discovering new opportunities within the hardware market.

Ace is also preparing to welcome a record number of prospective retailers to the convention, who will have the opportunity to experience everything the company offers during their time at the convention.

Along with experiencing the future of hardware retail with the Store on the Floor and the largest gathering of vendors, convention guests will be able to network with current Ace

hardware store owners and hear why they chose Ace as their co-op of choice.

But it’s not all business at the Ace Fall Convention. After the sun sets, the energy shifts to celebration and entertainment.

This year, attendees can look forward to the Ace After Hours event featuring the multiplatinum, Grammy Award-winning Zac Brown Band. Their electrifying performance promises to be the perfect blend of country charm and rock ‘n’ roll energy, providing a fitting culmination to the convention.

Attendees will also have the benefit of being in Ace’s backyard of Chicago for the fall convention. From the breathtaking views of Lake Michigan to the iconic architecture of the skyline, Chicago sets the stage for an unforgettable experience. Attendees can also take part in a variety of off-site events, including checking out some of the city’s world-class museums, the Chicago Air and Water Show, performances by Metallica and the thrilling Crosstown Classic baseball showdown between the Chicago Cubs and White Sox.

As Ace proudly celebrates 100-years, attendees of the Ace Fall Convention are in for an extraordinary experience that will inspire, entertain and leave a lasting impact on the hardware industry as a whole.

WHOLESALER CENTRAL

INDUSTRY EVENTS

Do it Best 2024 Fall Market

September 6-9 | Indianapolis

OPERATIONS

Enhanced E-Commerce Experience

DO IT BEST LAUNCHES EXPANDED SERVICES AND PRODUCT OFFERINGS

DO IT BEST RECENTLY ANNOUNCED upgrades to its e-commerce platform, reinforcing its commitment to driving business growth for independent retailers.

Using data-driven insights, the company has upgraded its e-commerce service, providing members access to a comprehensive catalog of products online. The platform adjusts dynamically to customer preferences, optimizing conversion rates and maximizing sales using advanced AI-powered search and merchandising.

Do it Best has made several critical upgrades to its services based on data analysis and feedback from customers. The enhancements include:

• A free rental equipment module that integrates with stores, making it easier for customers to access rental equipment. Whether it’s tools for home improvement projects or specialized equipment for contractors, this addition broadens the scope of offerings available through Do it Best’s e-commerce platform.

• Opportunities to sell convenience lumber online, marking a groundbreaking opportunity unmatched by other distributors. This initiative opens up a previously untapped market segment, providing customers with the convenience of purchasing lumber products for their homes or job sites.

• Personalized instant rebate options that boost customer engagement and tailor the experience based on insightful data. This initiative incentivizes purchases and customizes the customer experience based on insightful data, further enhancing satisfaction and loyalty.

A crucial part of the company’s e-commerce success is its PIM (product information management system), which houses over 1.6 million items of premium product content (20% more than the closest competitor).

With the support of their co-op and high-quality product content, Do it Best members can be confident they have the best solution to drive customers into their stores and grow sales with e-commerce.

“We’re not just providing access to data,” says Do it Best vice president of marketing and e-commerce Allison Flatjord. “We’re actively using it to help independent retailers. Our approach ensures that member-owners use the value of their data to increase sales.”

As the e-commerce platform celebrates its anniversary, Do it Best urges retailers to seize the opportunity for growth. Whether signing up for e-commerce services, activating same-day pickup or leveraging the PIM system to tailor offerings, Do it Best is committed to supporting retailers every step of the way.

WHOLESALER CENTRAL

INDUSTRY EVENTS

2024 Executive Planning Conference

Nov. 19-21, Tucson, Arizona | Contact Michele Simes at michele.simes@hdaworks.com

INDUSTRY EVENTS

Overflowing With Opportunity

AFTER HOSTING a sold-out Group Merchandising Conference in May, Hardlines Distribution Alliance (HDA) is setting its sights on the Executive Planning Conference (EPC) scheduled for November 19-21 in Tucson, Arizona. This year, the EPC is brimming with opportunity for member distributors and manufacturer partners to connect. HDA will introduce a vendor showcase that will allow new vendors to highlight products and their company in addition to scheduled meetings, a golf tournament, receptions and the featured item area.

“In planning the upcoming EPC, we wanted to provide even more opportunities for vendors to introduce their products and their programs to key decision-makers for attending distributors,” says Trent Kauffman, director of merchandising at HDA. “The new vendor showcase combined with the popular staples of the EPC heightens vendor and distributor interaction.”

The vendor showcase will take place on the first day of the conference, Nov. 19, and will utilize a roundtable format for member distributors to get acquainted with new vendors. Those introductions will allow distributors and members to walk into their private, pre-scheduled meetings on Wednesday and Thursday with a head start on forming a business relationship.

In addition to the vendor showcase, vendors will have the opportunity to expand upon their program and available

products during the one-on-one meetings. These meetings are the perfect way to get an audience with decision-makers who are engaged, focused and searching for impactful programs to enhance their business. The November timeframe also has the added benefit of setting all attendees up for success moving into the new year and impacting ROI by allowing vendor attendees to meet with dozens of distributor members over the course of only three days.

The EPC is also designed to maximize networking opportunities in social settings during the golf tournament on the Jack Nicklaus Signature Golf Course and during evening receptions. Vendors can sponsor hole-in-one contests, the beverage cart and more to keep their name in front of the group. A welcome reception, themed dinner reception and farewell reception provide even more social settings to speak with attendees outside of scheduled meetings. To further introduce and display product during the EPC, the featured item area provides a designated spot for distributor members to peruse and vote on displayed products for each category.

HDA’s mission to curate quality, substantial events continues to evolve from year to year. This year’s EPC promises to be overflowing with opportunity for all attendees to make meaningful connections that drive business growth into the future.

HDA PLANS EXECUTIVE PLANNING CONFERENCE

The Retail Marketplace Can Help You

Buy a Store | Sell Your Business | Post a Job, Get a Business Valuation | Find a Lender and More

BUSINESS FOR SALE

Northwest Farm & Home Supply Co.

Location: Lemmon, SD

Gross Revenue: $3.21 million

The main building is a total 27,213 sq. ft. of retail and warehouse space on 4 acres. The main bldg. was constructed in 1994 with additions constructed in 2002 and 2004. Single story with 22’ clear height in 11,459 sq. ft. of lumber warehouse, three grade level doors and two dock height doors.

BUSINESS FOR SALE

Hoosick True Value

Location: Hoosick Falls, NY

Gross Revenue: $1.26 million

Price: $1.875 million

This opportunity offers a turnkey sale of a general hardware business located in northeastern Rensselaer Co., New York. The business serves five towns and southwestern Bennington Co., Vermont, and 25 miles east of Troy, New York.

BUSINESS FOR SALE

Home Improvement Supply Store

Location: Missouri

Gross Revenue: $1.04 million

This historic home improvement and hardware store is a staple of its community and operates from its headquarters in the Kansas City Metropolitan Area of Missouri. The Company is a long-standing retailer and installer of consumer and commercial improvement products.

BUSINESS FOR SALE

Albrights Hardware & Garden Center

Location: Allentown, PA

Gross Revenue: $1.9 million Price: $800,000

Albrights Hardware is an established hardware store with strong neighborhood ties and has been a Lehigh Valley staple for over 50 years. The current owners have owned the store since 1992. Albrights serves its loyal customer base by providing quality products and exceptional customer service.

BUSINESS FOR SALE

Central Vermont Paint, Flooring and Decorating Business

Location: Vermont

Gross Revenue: $2.82 million

Price: $1.1 million

Full-service decorating store providing flooring, paint, window treatments, kitchen/bathroom remodeling, cabinetry product offerings, design assistance, specialized service, and professional installation.

BUSINESS FOR SALE

Private Business

Location: Alabama

Gross Revenue: $2.21 million

Price: $649,000

BUSINESS FOR SALE

Private Business

Location: Pennsylvania

Gross Revenue: $1.6 million

SEEKING BUSINESSES

The Aubuchon Company

For our next acquisition, we are looking for:

• Single-store and multi-store hardware operations

• Located in northeast and southeast United States

• Store size of 5,000-30,000 ft 2

• At least $3 million in average store sales

SEEKING BUSINESSES

Bolster Hardware

We are looking for:

• Geography agnostic

• With or without real estate

• Store revenues of $1.5M+

• We prefer to honor the family name and heritage in the local community by not changing the name

• We prefer to keep all employees as part of the acquisition

SEEKING BUSINESSES

Gold Beach Lumber Yard

We are looking for:

• Single-store and multi-store hardware operations

• Located in the Pacific Northwest

• Store size of 5,000 ft2-30,000 ft2

RESOURCES News to You

Stay up to date on the latest industry news by subscribing to our newsletters at hardwareretailing.com/subscribe

What You Need to Know in July

Home Depot Partners With Instacart

Customers of The Home Depot now have access to same-day delivery on certain products from 2,000 stores through the organization’s partnership with the delivery service app Instacart. Products offered with same-day delivery include garden essentials and building materials.

Tractor Supply Company Hits

Store Milestone Tractor Supply Company announced the opening of its 500th garden center location in Lowell, Indiana. To date, Tractor Supply operates garden centers in 41 states and plans to open more than 100 by the end of 2024.

Ace Hardware Reports Increase in Q1 2024 Revenues

The Chicago-based hardware wholesaler reported $2.1 billion of revenue in the first quarter of 2024, a 2.5% increase year over year. The departments responsible for the increase were outdoor power equipment, power tools and lawn and garden.

Jared Hufford Named Do it Best Director of Strategic Initiatives

Jared Hufford brings 20 years of industry experience into his new role. Hufford previously served as the director of e-commerce for store operations and director of INCOM distributor supply.

HDA Hosts Sold-Out Group Merchandising Conference in Indy

The Hardlines Distribution Alliance (HDA) hosted its 21st annual Group Merchandising Conference, bringing together industry professionals including 31 new vendors. Attendees of the sold-out event in Indianapolis took part in new events, including a new vendor preview, and enjoyed returning activities like the pre-scheduled meetings with vendors.

To read these news stories and other news, visit hardwareretailing.com/industry-news

NETWORK Make a Plan

Visit YourNHPA.org/cal to find more industry events online.

Orgill Fall Online Buying Event

August 5-18 | VIRTUAL EVENT

The Garden Center Show

August 6-7 | ROSEMONT, IL

Ace Hardware Fall Convention

August 8-10 | CHICAGO, IL

Independent Home Improvement Conference

August 27-29 | MARCO ISLAND, FL

*Events are current as of press day.

To add your event to the industry calendar, send an email to editorial@YourNHPA.org

Benjamin Moore 19 benjaminmoore.com

ECI Software Solutions 16 ecisolutions.com

Forney Industries Inc. 33 forneyind.com

Great Northern Equipment Dist. 18 gnedi.com

House-Hasson 3 househasson.com

Howard Products 44 howardproducts.com

Intertape Polymer Group 32 itape.com

Jeske Hardware Distributors 39 jeskehardware.com

Kness Mfg. 36 kness.com Knox Fertilizer 15 knoxfert.com/schultz

Oak Bank

liveoakbank.com

Moving Forward

Retailers share common obstacles to growth and how to overcome these challenges at hardwareretailing.com/growth-challenges.

Meet Gina

Gina Schaefer is the founder and former CEO of 13 hardware stores in Washington, D.C., Baltimore and their suburbs. She and her team of 300 have helped millions of customers shop right where they live, in their urban communities, despite continuous pressure from bigger, stronger competitors. Gina is a professional speaker and storyteller, engaging audiences on topics, including competing in a male-dominated field, building a strong corporate culture, business succession planning and all things small business. In her book, “Recovery Hardware,” Gina chronicles her experiences building a business while learning from nontraditional teachers like folks from the recovery community and returning citizens. She serves as an advocate and spokesperson for causes directly related to raising wages, anti-monopoly legislation and small business development.

CONNECT

Email gina@acehardwaredc.com

LinkedIn Gina Schaefer

Scan the QR code to learn more about Gina’s work to promote small businesses and second chances.

RETAIL INNOVATION

Different Avenues to Growth

As tempting as it is to jump at every next shiny object (i.e. opportunity), I have come to realize over the years that a calculated approach to growth is a wiser idea.

For the first 10 years of being in business, I drafted a strategic plan each year. No more than five pages, these documents provided my young team with a road map of sorts. We elaborated on marketing ideas, new competitors, our budget and expansion plans. We looked no more than two years out, keeping our options fresh and our planning flexible.

The expansion planning portion of this document was pivotal for us because once we started to grow, we didn’t look back. Growth can come from a variety of sources, and we wanted to dabble in all of them. To keep our enthusiasm in check, we devised a methodology for evaluating each component.

Location Growth: Adding to the Chain

Over 18 years, we built 10 stores from the ground up, purchased five and closed two (closures are a topic for another day). There are very distinct reasons and steps to take when determining if you’ll start from scratch or buy an existing business, and every retailer I talk to has a different opinion on which one is better.

For today, however, I’ll share how we decide where to open a new outpost.

First, the community must have a strong “shop local” mentality. Is there a main street with already existing local businesses? Is there a business or community association that is tasked with being the local business megaphone?

We love these people and use their voice and muscle to boost our own marketing efforts long before our doors open for business.

Internal Expansion: Renovating or Expanding an Existing Location

While it never seemed quite as exhilarating, there is no doubt that aging or tired stores need new life breathed into them—and often. Over the years, we have tapped into Ace Hardware’s store improvement loan programs to overhaul several of our stores. The result has been as much as 25% sales increases and thousands of additional square feet of selling space, proving that customers also want new shiny objects. Everyone responds positively to these projects—the customers, the employees and the media.

Product Growth: Putting New Products in the Right Place

Growing our product lines, which can be coupled with internal expansion plans, has also had a positive effect on our growth. We constantly evaluate what our neighbors need, not lump each of our thirteen communities together as one. One example of this is our pottery niche. What started as an effort to find more fashion-forward pottery in one location has turned into an almost $1.7 million niche across most of our chains. The bottom line is this: growth for small businesses is important and can take on many forms. We rely on our team to be the eyes and ears of the store, pour over news from other industries and shop our competitors to ensure we are keeping up with trends, demands and new communities that might want a cool hardware store.

Gina Schaefer Founder and Former CEO A Few Cool Hardware Stores

Don’t Reinvent the Wheel

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Orgill Companion Conference

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A Roadmap to True Financial Freedom

Are cash flow problems weighing down your business? It's time to turn the tide with NHPA’s latest course. You’ll gain the tools and insights to master both expense management and revenue enhancement.

Be part of this 2-day interactive course on Oct. 15-16, and then continue your journey with six weekly workshops designed to translate your learning into practical solutions for real-world business challenges.

Seats are filling up, claim yours at YourNHPA.org/cash-flow

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Course Preview: Diagnosing Your Cash Flow Issues

Free Webinar | July 26

Join course instructors for a sneak peek into expert strategies on managing cash flow. Discover quick steps you can take to identify symptoms of cash flow issues and what you can do to overcome them. Register at YourNHPA.org/cash-flow.

Kim Peffley NHPA Director of Organizational Development & Consulting and former retailer

Brian Young Retail consultant and former 3rd generation retailer with 25+ years of experience