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Power Tool Sales and Marketing Strategies for B2B Retailers

Power tools are an essential for both professional and consumer use. Despite a slowdown in 2021 due to the COVID-19 pandemic, demand remains near or at levels prior to the pandemic.

In terms of dollar share, Home Depot leads all outlets in power tool sales. Lowe’s is second in line. Both are however facing stiff competition from China-manufactured power tools.

Tip 1: Commit to a brand

Many manufacturers of industrial products prioritize sales over marketing. This is because a long-term sales requires a lot back-and forth communication and a thorough understanding of the product. This type of communication is not conducive to emotional marketing tactics.

But, companies that produce industrial tools need to rethink their marketing strategy. The digital world has raced past traditional companies that rely on a small group of distributors and retailers for sales.

Brand commitment is an important element in the sale of power tools. When a buyer is committed to a certain brand, they are less sensitive to the messages of competitors. They are also more likely to buy the product of the customer again and to recommend them to friends and family.

To make a successful impact in the United States market, you must have an organized strategy. This means adapting your tools to local needs and positioning brands in a way that is competitive, and making use of distribution and marketing platforms channels. It is also essential to work with local authorities and industry associations as well as experts. In this way you can be sure that the power tools you purchase conform to the laws of the country and standards.

Tip 2: Know Your Products

Retailers must be aware of the products they are selling particularly in a market which places a great value on the quality tools online (www.powertoolsonline.Uk) of the product. This will help them make informed decisions about the products they offer their customers. This information can be the difference between making a successful or bad sale.

For example knowing which tool is ideal for specific projects can help you connect your client with the appropriate tool to meet their needs. You’ll earn trust and a sense of loyalty among your customers. It will also give you the confidence that you’re offering the complete solution.

Additionally, understanding the trends in DIY culture will help you know what your customers are looking for. For instance the increasing number of homeowners are taking on home improvement projects that require the use of power tools. This can result in an increase in sales of these tools.

According to DurableIQ, DeWalt is the leader in power tool units at 16 percent. However, Ryobi and Craftsman have seen their share decrease year-over-year. Despite this, online and in-store sales are on the increase.

Tip 3: Offer Full-Service Repair

Most consumers purchase power tools to repair a broken one or to tackle a new project. Both offer opportunities for upsells or additional sales.

According to the Home Improvement Research Institute (HIRI) 2020 Tracking Study of Power Tools and Accessories 35 percent of all purchases of power tools are the result of planned replacements. Customers often require additional accessories or require upgrading to better performance models.

Whether your customer is a seasoned DIYer or is new to the hobby, they’ll need to replace their carbon brushes for power tools drive belts, drive belts, and power cords as time goes by. Making sure they are up to date with these essentials will allow your customer to make the most of their investment.

When buying power tools, technicians look at three aspects: the tool’s application the power source, and safety. These aspects allow technicians to make informed decisions when choosing the appropriate tools for their repair and maintenance work. This helps them maximize the efficiency of their tools and reduce the expense of owning it.

Tip 4: Continue to Keep Up with Technology

For instance, the most recent battery tools have advanced technology that enhances the user experience and sets them apart from competitors that still rely on old battery technology. Wholesalers in B2B who carry and sell these tools could increase sales by targeting professionals and contractors who are tech-savvy.

Karch’s company, which has more than 30 years of experience, and a 12,000 square feet tool department is a testimony to the importance of keeping current with the latest technologies. He states that manufacturers are constantly changing their product designs. “They used to hold their designs for five or 10 years, but they’re now changing them every year.”

B2B wholesalers should not just adopt the latest technology, but also enhance their existing models. By incorporating lightweight materials as well as adjustable handles, wholesalers can decrease fatigue caused by long-term use. These features are essential for many professional contractors who need to use the tools for long durations. The power tool industry is split into professional and consumer groups. This means that the biggest players are constantly working to improve their designs and come up with new features in order to reach a larger market.

Tip 5: Make a Point of Sales

The e-commerce market has changed 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 inventory and marketing strategies.

Point of sale (POS) information, for instance, allows you to track the types of projects DIYers undertake when they purchase power tools and accessories. Knowing what projects your customers are working on permits you to offer upsells and extras. It helps you anticipate your customers’ needs to ensure that you have the right products in your shelves.

Moreover, transaction data enables you to detect trends in the market and adjust your production cycles accordingly. For instance, you can, use this data to monitor fluctuations of your retail partners’ and brand’s market shares. This allows you to align your strategy for product with consumer preferences. Additionally, you can make use of POS data to improve levels of inventory and decrease the chance of overstocking. It is also used to assess the effectiveness of promotions.

Tip 6: Create a Point of Service

Power tools is a high-profit, complex market that requires substantial marketing and sales efforts to remain competitive. The traditional methods to gain a strategic advantage in this market have been by establishing pricing or positioning of products, but these tactics no longer work in today’s multichannel marketplace in which information is dispersed so quickly.

Retailers who concentrate on service are more likely 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. His initial department featured several brands. However when he spoke to contractors, he noticed that they were loyal to their favorite brand.

To win their customers, Karch and his team first ask their customers what they’d like to achieve using the tool, before showing them the options available. This gives them the confidence to recommend the best tool for the job, and builds trust with customers. Customers who are familiar with their product well are less likely to blame their retailer for a tool malfunction on the job.

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

Power tool retailers are facing an extremely competitive market. People who succeed in this market tend to be more loyal to a single brand rather than to carry a variety of brands. The amount of space that a retailer is able to devote to a specific category could influence how many brands they carry.

Customers usually require assistance when they go in to purchase a power tool. If they’re replacing an old one that’s broken or taking on an upgrade project clients require expert advice from sales associates.

Mike Karch, the president of Nue’s Hardware and Tools, in Menomonee falls, Wisconsin, said that the staff at his store is educated to ask questions that can lead to an offer. They begin by asking what the customer is planning to use the tool according to him. “That’s the key to determining the type of tool to offer them,” he adds. Then they ask about the experience of the customer with various types of projects and the project.

Tip 8: Be sure to mention your warranty

The makers of power tools vary widely in their warranty policies. Some are completely comprehensive, while others are stingy, or refuse to cover certain aspects of the equipment. It’s crucial for retailers to know these differences before buying, since customers will purchase tools from companies that offer warranties.

Mike Karch, president of Nue’s Hardware and Tools in Menomonee Falls, Wisconsin, has a 12,000 square-foot power tools department as well as an in-house repair shop that handles 50 kinds of tools. He has learned through the years that a majority of his customers who are contractors are loyal to a particular brand, so he focuses on the most popular brands rather than attempting to offer a variety of products.

He also appreciates that his employees can get one-on-one time with vendors to discuss new products and give feedback. This type of personal interaction is essential because it helps build trust between the store’s customers and employees. Good relationships with suppliers can even lead to discounts for future purchases.