• 목록
• 답변
• 글쓰기
• 게시판 리스트 옵션
  • 수정
  • 삭제

Power Tool Sales and Marketing Strategies for B2B Retailers

Power tools are essential for both consumer and professional use. The demand for power tools remains at or close to pre-pandemic levels despite a slowdown owing to the COVID-19 epidemic that will hit in 2021.

In terms of dollar share, Home Depot leads all outlets when it comes to sales of power tools. Lowe's isn't far behind. However, both are being pushed by China-made power tools.

Tip 1: Make a commitment to a brand

Many manufacturers of industrial products put a higher priority on sales over marketing. This is because a long-term sale requires a lot back-and forth communication and detailed product knowledge. This kind of communication doesn't lend itself to emotional consumer marketing techniques.

However, industrial tool manufacturing companies should consider rethinking their marketing strategy. The digital world has surpassed traditional manufacturers who depend on a few distributors and retail outlets for sales.

One of the most important factors in power tool sales is brand loyalty. When a customer is adamant about a particular brand, they are less sensitive to the messages of competitors. Additionally, they are more likely to buy the product of the client again and recommend it to others.

It is essential to have a well-planned strategy to have an impact on the American market. This means adapting your tools to local needs and positioning brands in a manner that is competitive and leveraging marketing platforms and distribution channels. Collaboration with local authorities, associations and experts is also essential. You can be assured that your power tool is in line with the requirements and standards of the country when you do this.

Tip 2: Know Your Products

Retailers should be familiar with the products they sell particularly in a market that places such a high value on the quality of the product. This will enable them to make informed decisions about what they sell. This knowledge could also be the difference between a good deal and a bad one.

Knowing which tool is suitable for a project will help you match the right tool to the needs of your customer. You will build trust and loyalty among your customers. This will give you confidence that you are offering the complete service.

In addition, understanding the trends in DIY culture will help you know what your customers are looking for. For instance, a growing number of homeowners are taking on home renovation projects that require power tools shop tools. This can result in a spike in the sale of these tools.

According to DurableIQ, DeWalt is the leader in power tool sales with 16%. However, Ryobi and Craftsman have seen their share decrease year-over-year. However sales in stores and online power tools are on the increase.

Tip 3: Offer Full-Service Repair

Most consumers purchase power tools to replace a broken one or to tackle the new project. Both present opportunities for upsells and add-on sales.

According to the Home Improvement Research Institute (HIRI) 2020 Tracking Study of Power Tools and Accessories 35 percent of all purchases for power tools are the result of planned replacements. The customers might require additional accessories, or upgrade to a higher-performing model.

Whether your customer is an experienced DIYer or is new to the hobby, they will likely require replacing their carbon brushes for power tools drive belts, drive belts, and power cords as time goes by. These items will ensure your customer reaps the maximum benefit out of their investment.

When purchasing power tools, technicians consider three aspects: the tool's application the power source, and security. These aspects help technicians make informed choices about the best power tool tools to use in their repairs and maintenance work. This helps them maximize the efficiency of their tools and lower the cost of owning it.

Tip 4: Keep current with the latest technology

For example, the latest power tools feature advanced technology that enhances users' experience and differentiates them from other tools that rely on old battery technology. Wholesalers of B2B that stock and sell these devices can boost sales by targeting tech-forward contractors and professionals.

Karch's business, with more than 30 years of experience and a 12,000 square foot tooling department, is a testament to the importance of staying current with the latest technologies. He says that manufacturers are constantly changing their product designs. "They used to hold their designs for five or 10 years, but now they're changing them every year."

In addition to embracing latest technologies, B2B wholesalers should also be looking to improve existing models. For instance, by adding adjustable handles and lightweight materials, they can lessen the strain caused by long use. These features are crucial for professionals who employ the tools for a lengthy period of time. The power tool industry is divided between the consumer and professional segments. This means that the major players are constantly striving to improve their designs and create new features in order to reach a wider public.

Tip 5: Make a Point of Sales

The online marketplace has transformed the power tools market. Data collection methods have improved allowing business professionals to gain a better understanding of the market. This allows them to create more effective marketing and inventory strategies.

Point of sale (POS) data can, for example, allow you to keep track of the types of projects that DIYers are working on when purchasing power tools and other accessories. Knowing what projects your customers are working on enables you to offer upsells and extras. It allows you to anticipate the needs of your customers, so that you always have the right products in your shelves.

You can also utilize transaction data to spot trends in the market and adjust production cycles accordingly. You can, for example make use of this information to monitor fluctuations of your retail partners' and your brand's market shares. This allows you to align your product strategies with consumer preferences. POS data can also be utilized to optimize levels of inventory, reducing the risk of overstocking. It can also be used to determine the effectiveness of promotions.

Tip 6: Be a good neighbor

Power tools is a high-profit complex market that requires significant marketing and sales efforts in order to remain competitive. The most common methods of gaining an advantage in this market have been by establishing pricing or positioning of products, but these strategies are no longer effective in today's omnichannel marketplace where information is distributed rapidly.

Retailers who focus on service are more likely to keep customers and build brand loyalty. Mike Karch, the president of Nue's Hardware and tools store online, in Menomonee falls, Wisconsin, runs a 12,000 square-foot power tool section. His initial department featured various brands. However, as he listened to contractors, he discovered that they were loyal to their favorite brand.

Karch and his staff members ask their customers what they would like to do with a tool prior to showing them the possibilities. This gives them the confidence to recommend the appropriate tool for a job, and increases trust with their customers. Customers who are familiar with their product are less likely to blame the retailer for a failure of a tool on the job.

Tip 7: Become a master of customer service

The power tool market has become a highly competitive category for hardware retailers. People who succeed in this market tend to be more committed to a single brand than to carry a variety of brands. The size of the space a retailer must devote to this category can also affect the number of brands it can carry.

When customers visit a store to purchase power tools and require assistance, they usually need help choosing a product. When they're replacing an old one damaged or undertaking an upgrade project Customers need advice from sales associates.

Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls, Wisconsin, says his store's sales associates are trained to ask the right questions to help make a sale. They begin by asking what the customer plans to use the tool for, he adds. "That's the most important factor to consider when deciding the kind of tool to offer them," he adds. Then, they inquire about the customer's experience with various types of projects and the project.

Tip 8: Be sure to be sure to mention your warranty

Power tool manufacturers vary greatly in their warranty policies. Some manufacturers offer a comprehensive warranty, while others offer more limited warranties or do not offer warranties for certain tools. Before buying a product, it is essential that retailers understand the differences. Customers will only purchase tools from companies that guarantee their products.

Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls, Wisconsin, has a 12,000-square-foot power tool shop online department and an repair shop in-house that handles 50 lines of tools. He has observed that many of his contractors are brand loyal. So, he chooses to carry only a few brands instead of trying to carry a variety of products.

He also appreciates that his employees are able to meet with vendors one-on-one to discuss new products and give feedback. This kind of interaction is essential because it helps build trust between the store and its customers. Good relationships with suppliers could even result in discounts on future purchases.