Power Tool Sales and Marketing Strategies for B2B Retailers

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

In terms of dollar share, Home Depot leads all outlets in power tool sales. Lowe's follows closely behind. Both are competing with power tools manufactured in China.

Tip 1: Be committed to a brand

Many industrial product manufacturers place an emphasis on sales over marketing. This is because a long-term purchase requires a lot of back and forth communication and a thorough understanding of the product. This type of communication is not ideal for marketing that is based on emotion.

However, companies that make industrial tools need to rethink their marketing strategy. The digital age has outpaced traditional companies that rely on a select group of retailers and distributors for sales.

Brand commitment is a key aspect in the sales of power tools. If a client is loyal to a particular brand, they will be less sensitive to communications from competitors. In addition, they are more likely to purchase the client's product again and recommend it to others.

To be successful on the United States market, you must develop a well-planned strategy. This means adapting your tools to local needs and positioning your brand in a manner that is competitive and using marketing platforms and distribution channels. Collaboration with local authorities and associations, as well as experts is also crucial. In this way, you can be confident that your power tools be in compliance with the regulations of the country and standards.

Tip 2: Know Your Products

In a marketplace where product quality is so important, retailers should know the products they offer. This will help them make informed choices about what they can offer their customers. This information can be the difference between making a good or a poor sale.

For example knowing that a particular tool is ideal for specific projects can help you connect your client with the appropriate tool for their needs. You'll build trust and loyalty among your customers. It will also give you assurance that you're offering the complete solution.

Understanding DIY culture trends can also help you understand your customers' requirements. For instance, a growing number of homeowners are undertaking home improvement projects that require power tools. This could lead to a rise in the sales of power tools.

According to Durable IQ, DeWalt leads in power tool share of 16%, while Ryobi and Craftsman brands have seen their share drop year-over-year. Despite this, both online tool shops and in-store purchases are increasing.

Tip 3: Offer Full-Service Repair

The majority of people purchase power tools to replace an old one or tackle an upcoming project. Both of these tools offer the possibility of upselling or adding on sales.

According to the Home Improvement Research Institute's (HIRI) 2020 Power Tools and Accessories Product Purchase Tracking Study, 35 percent of power tool purchases were the result of an anticipated replacement. These customers typically require additional accessories or may require upgrading to better performance models.

If your customer is a seasoned DIYer or new to the hobby, they'll need to replace their power tools' carbon brushes drive belts, drive belts, and power cords over time. Making sure they are up to date with these essentials will allow your customer to get the most out of their investment.

Technicians consider three key items when purchasing power tool suppliers uk tools applications, how it will be used and safety. These factors allow technicians to make informed choices when selecting the right tools for maintenance and repair tasks. This enables them to maximize the performance of their tool and lower the cost of owning it.

Tip 4: Always Keep Up with Technology

For instance, the latest power tools online tools feature advanced technology that enhances users' experience and sets them apart from competitors that still rely on older battery technology. B2B wholesalers who stock and sell these tools can increase sales by targeting professional and tech-savvy contractors.

Karch's company, which has over 30 years of experience, and a 12,000 square foot tool department is a testament to the importance of keeping up-to-date with new technologies. "Manufactures are constantly adjusting the design of their products," he says. "They used hold their designs for five or 10 years, but now they alter them each year."

In addition to taking advantage of the latest technologies, B2B wholesalers should also be looking to improve existing models. For instance, by adding adjustable handles and lightweight materials, they can reduce the fatigue caused by prolonged use. These features are essential for many professionals who have to make use of the tools for long periods. The power tools industry is divided into consumer and professional groups which means that the major players are always working on improving their designs and developing new features that will appeal to more people.

Tip 5: Create a point of Sale

The ecommerce landscape has changed the market for power tools. Data collection methods have improved and business professionals can gain a better understanding of the market. This allows them to create more efficient inventory and marketing strategies.

Point of sale (POS) data for instance, allows you to track the types of projects DIYers tackle when they purchase tools and accessories. Knowing the kinds of projects your customers are undertaking enables you to provide additional sales and opportunities to upsell. It allows you to anticipate the needs of your customers, so that you always have the right products on hand.

Furthermore, transaction data allows you 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 product strategies with consumer preferences. Similarly, you can use POS data to improve levels of inventory and decrease the risk of stocking up. It can also be used to assess the effectiveness of promotions.

Tip 6: Be a good neighbor

Power tools are a complex, high-profit market that requires a substantial amount of marketing and sales effort to stay competitive. In the past a competitive advantage in this market was achieved through pricing or positioning products. However, these strategies are not effective in today's multichannel environment, where information is easily available to be shared.

Retailers who provide a high level of service are better able to keep customers and build brand loyalty. Mike Karch, the president of Nue's Hardware and Tools, located in Menomonee Falls, Wisconsin, runs a 12,000 square-foot power tool section. Initially, his department featured several brands, but when he began listening to contractor customers, he learned that most were loyal to a particular brand.

To win their customers' business, Karch and his team first ask their customers what they would like to accomplish with the tool before showing them what they have available. This gives them the confidence to recommend the right tool for the job, and it builds trust with customers. Customers who are familiar with their product are less likely to blame the retailer for the failure of a tool for the job.

Tip 7: Make an effort to be a Point of Customer Service

The power tool market has become a highly competitive category for retailers of hardware. Those who are successful in this market tend to be more devoted to a single brand than to carry a variety of manufacturers. The amount of space that a retailer can devote to a particular category can influence how many brands they are able to carry.

When customers go in to purchase power tools and require assistance, they usually need help choosing a product. Sales associates can provide professional advice to customers who are looking to replace a damaged tool or are planning a renovation project.

Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls, Wisconsin, says his sales staff is educated to ask the right questions to help make the sale. He says they start by asking the buyer what they plan to do with the item. "That's the key to determining what kind of tool to sell them," he adds. Next, they ask about the project and what level of experience the client has with different types of projects.

Tip 8: Make a Point of Warranty

The warranty policies of the manufacturers of power tools differ greatly. Some companies offer a complete warranty, whereas others offer a limited warranty or do not cover certain tools. It is crucial for retailers to understand the differences prior to making a purchase, because customers will buy tools from companies that back them up.

Mike Karch is the president of Nue's Hardware and Tools, located in Menomonee, Wisconsin. He has an 12,000 square foot Cheap Power Tools Online tool department and a repair shop on site that repairs 50 different brands of tools. He has discovered that a lot of his clients are brand loyal. Therefore, he prefers to carry only a few brands instead of trying to carry a variety of products.

He also appreciates that his employees have the opportunity to have one-on-one meetings with vendors to discuss new products and give feedback. This kind of interaction is vital since it builds trust between the store's clients and employees. Building strong relationships with suppliers may lead to discounts on future purchases.