4 Trends Shaping Hardware Retail

The hardware industry is ever evolving. Any events changing within the economy or even the manufacturing of goods can have a direct effect on store operations and sales. To be successful within your ever changing markets, you need to be flexible and progressive. Immediately understanding and implementing these latest trends can be crucial to your growth as a business and incoming revenue.

Expansion of E-Commerce

With the constant evolution of technology, hardware retailer e-commerce has never been more crucial. Many stores have even started to connect with delivery services to provide order-in retailers and even recipes. Brick and Mortar operators should expand their services in order to keep up with the market.

How You Can Take Advantage:

• Research your target market and learn what they value in their retailers.
• What services could you use to provide more value?
• What are the trending products and services that other leading retailers provide?

In-Store Shopping Experience

Retailers maintain foot-traffic by updating and re-inventing the in-store shopping experience to be much more personalized and interactive. Consumers love convenience, having the ability to easily browse and sample the products they desire.

How You Can Take Advantage:

• Enhanced department services.
• Individualize the shopping experience.
• Provide sampling, education, and entertainment.
• Integrate with technology.

Demand For Delivery

Hardware home delivery is constantly expanding and can include a seemingly unlimited plethora of product options and even pre-prepared items. As these services become more available less and less consumers will be making trips in store for their products. It would be beneficial for a retailer to get involved in these current market trends.

How You Can Take Advantage:

• Research E-commerce and home delivery demands.
• Learn about the most popular home delivery services.
• Research and survey your consumers to see who or how they will value home delivery.

Natural Wellness

We’re currently immersed within the better-for-you movement with consumer purchases and desired natural choices. So it would be beneficial and imperative for hardware retailers to provide consumers with easy access to natural conscious products. So many media resources and trends are promoting natural remedies for common everyday situations. Products that also enhance or fix something that the body may be perceived to be lacking is also rising in popularity.

How You Can Take Advantage:

• Research popular natural products.
• Know who you’re targeting.
• Learn about the products in your store that may be affected by these trends.

The National Independent Hardware Association of America is here for all of your hardware industry needs. Hopefully you have found value within this article on the 4 Trends Shaping Hardware Retail. We are interested in what you would like to learn more about, please let us know in the comments below.