Hardware Retailing

JUL 2017

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: http://hardwareretailing.epubxp.com/i/841186

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Page 69 of 96

May 2017 | HARDWARE RETAILING 65 July 2017 | HARDWARE RETAILING 65 65 July 2017 | HARDWARE RETAILING T ravis Andrews at Strasser True Value Hardware has a take-no-prisoners approach to selling power tools. His tool department spans nearly one-quarter of his 40,000-square-foot store. This past April, sales in the category reached $255,000 during the store's annual tool sale alone. Aggressive promotions and a large selection have given Andrews the advantage over his specialty tool store and big-box neighbors. But those aren't the only ways to compete in this category. There are strategies any retailer can use, and to find out what those are, Hardware Retailing spoke with the following three retailers who dominate their local power tool markets. • Gary Dumont, whose store, Dracut Hardware in Dracut, Massachusetts, may be a modest 8,500 square feet in size, but whose pricing strategy and single-brand focus catapulted power tools to one of his strongest categories. • Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls, Wisconsin, has more than 30 years of experience, a 12,000-square-foot power tool department and a repair shop that services more than 50 lines of tools. • Travis Andrews, assistant general manager of Strasser True Value Hardware in Kansas City, Kansas, has grown the store's annual tool sale from a $30,000 one-day event to a $255,000 one-day event in just a few years.

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