Power Tool Sales and Marketing Strategies for B2B Retailers

Power tools are essential for both consumer and professional use. Despite a slowdown in 2021 due to the COVID-19 virus, 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 not far behind. However, both are facing stiff competition from China-manufactured power tools.

Tip 1: Create an Engagement to Brands

Many industrial product manufacturers place an emphasis on sales and marketing. This is because a long-term sales requires a lot of back-and-forth communication and detailed product knowledge. This kind of communication isn't ideal for marketing that is based on emotion.

However, companies that manufacture industrial equipment should reconsider their marketing strategy. The digital world has surpassed traditional manufacturers who depend on a small group of retailers and distributors for sales.

A key to power tool sales is brand commitment. If a client is loyal to a particular brand and is loyal to a brand, they are less prone to messages from competitors. Moreover they are more likely to buy the item of the customer again and recommend it to others.

It is essential to have a well-planned strategy to make an impact on the US market. This includes adapting your tools to meet local requirements and positioning your brand in a competitive manner, and leveraging distribution channels and marketing platforms. It is also important to cooperate with local authorities, industry associations, and experts. In this way you can be sure that your power tools be in compliance with the regulations of the country and standards.

Tip 2: Be aware of Your Products

Retailers need to be knowledgeable about the products they are selling, especially in a market that places such a high value on the quality of the product. This will help them make informed choices about what they can offer their customers. This knowledge could make the difference between making a good or bad sale.

Knowing which tool is perfect for a particular project will assist you in matching the perfect tool to the requirements of your customer. You'll earn trust and loyalty among your customers. This will ensure that you provide an entire service.

In addition, understanding the trends in DIY culture can help you comprehend what your customers want. For instance, a rising number of homeowners are tackling home renovation projects that require power tools. This can result in a spike in the sale 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. However sales in stores and online are growing.

Tip 3: Offer Full-Service Repair

The majority of people purchase power tools to repair 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. Customers often require additional accessories or need to upgrade to higher performance models.

Whether your customer has experience in DIY or is just beginning the hobby, they will have to replace carbon brushes, drive cords, and power tool sale cords of their power tools in time. Being on top of these important items will allow your customer to get the most value from their investment.

When buying power tools, technicians take into consideration three factors: the application the power source, and security. These aspects help technicians make informed choices when it comes to selecting the right tools for repair and maintenance work. This allows them to maximize the efficiency of their tools as well as reduce the cost of ownership.

Tip 4: Stay up-to-date with the latest technologies.

The most recent power tools, for example they feature smart technology that enhances user experience and sets them apart from rivals who rely upon old battery technology. Wholesalers in B2B who carry and sell these devices can increase sales by targeting professional and tech-savvy contractors.

Karch's company, which has more than 30 years of experience and a 12,000 square feet department for tools is a testament to the importance of keeping current with the latest technologies. He says that manufacturers are constantly changing their product designs. "They used hold their designs for 5 or 10 years but now they are changing them each year."

B2B wholesalers need to not only embrace the latest technologies but also enhance their existing models. By adding lightweight materials and adjustable handles, wholesalers can lessen fatigue from prolonged use. These features are essential for a lot of professional contractors who need to utilize the tools for lengthy periods. The industry of power tools is divided into consumer and professional groups, which means that major players are constantly improving their designs and introducing new features to appeal to an even larger audience.

Tip 5: Make a Point of Sale

The landscape of e-commerce has transformed the power tool market. Data collection methods have improved, allowing business professionals to get a better understanding of the market. This allows them to develop more effective inventory and marketing strategies.

Point of sale (POS) information for instance, allows you to keep track of the types of projects DIYers tackle when they purchase power tools and other accessories. Knowing the kinds of projects your customers are working on enables you to offer add-on sales and opportunities to upsell. It also helps you to anticipate the requirements of your clients making sure you have the correct products available.

You can also use transaction data to identify trends in the market, and then adapt production cycles accordingly. For instance, you can make use of this information to track fluctuations in your brand and the market share of your retail partners which allows you to adapt your product strategies to consumer preferences. POS data can also be used to optimize inventory levels, which reduces the chance of overstocking. It is also used to determine the effectiveness of promotions.

Tip 6: Establish a Point of Service

Power tools is a lucrative, complex market that requires significant marketing and sales efforts to remain competitive. The classic ways to gain an advantage in this industry have been through pricing or product positioning--but these methods are no longer effective in today's omnichannel marketplace where information is shared 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, located in Menomonee Falls, Wisconsin, runs a 12,000 square-foot power tool department. The department was initially home to several brands. However, as he listened to contractors, he discovered that they were loyal to their favorite brand.

To make a mark in their business, Karch and his team first ask customers what they'd like to achieve using the tool, before showing them the tools they have available. This gives them the confidence to recommend the best tool for the job, and builds trust with the customer. Customers who are familiar with their product well are less likely to blame their supplier for a tool malfunction on the job.

Tip 7: Become a customer service guru

The power tool market has become a highly competitive market for retailers of hardware. Those who are successful in this area tend to be more loyal to a specific brand rather than to carry a variety of brands. The amount of space a retailer has to devote to this category can be a factor in how many brands it can carry.

When customers go in to purchase an electric tool and require assistance, they usually need help selecting the right product. Whether they are replacing an old one that's broken or taking on a renovation project, customers need expert 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 in order to make a sale. They begin by asking what the customer plans to use the tool for, he says. "That's the best way to decide what kind of tool you need," he says. Then, they inquire about the experience of the customer with various types of projects and the project.

Tip 8: Be sure to mention your warranty

The warranty policies of power tool manufacturers differ greatly. Certain manufacturers offer a full warranty, while others offer more limited warranties or refuse to cover certain tools. Before purchasing a tool, it is crucial that the retailer understands the distinctions. Customers will only buy tools from companies who guarantee their products.

Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls, Wisconsin, has a 12,000 square-foot power tool department as well as an repair shop in-house that handles 50 kinds of tools. He has learned that many of his contractor clients are loyal to their brands. So, he chooses to carry only a few brands rather than offer samples of various products.

He also likes that his employees can meet with vendors one-on-one to discuss new products and share feedback. This type of personal interaction is essential since it builds trust between the customers and employees. Good relationships with suppliers could even lead to discounts for future purchases.