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cordless power tool suppliers and Marketing Strategies for B2B Retailers Power tools are vital for both professionals and consumers. Despite an expected slowdown in 2021 due to the COVID-19 pandemic demand remains near or at pre-pandemic levels. Home Depot is the leader in the sales of power tools in terms of dollar share. Lowe's isn't far behind. Both are competing against power tools made in China. Tip 1: Make a commitment to a brand Many manufacturers of industrial products place an emphasis on sales and marketing. This is because a long-term purchase requires a lot of back-and-forth communication and a thorough understanding of the product. This kind of communication doesn't permit emotional marketing techniques. However, industrial tool manufacturing companies should consider rethinking their approach to marketing. The digital world has surpassed traditional companies that rely on a small group of distributors and retail outlets to sell their products. A key to selling power tools is brand commitment. If a client is committed to a brand they are less prone to messages from competitors. They are also more likely to buy the client's products again and to recommend them to others. You require a well-planned strategy to make an impact on the US market. This means adapting your tools to meet local requirements, positioning your brand in a competitive way, and leveraging marketing channels and distribution channels. It is also important to cooperate with local authorities as well as industry associations and experts. You can be sure that your power tool is in line with the requirements and standards of the country if you follow these guidelines. Tip 2: Know Your Products In a world where product quality is important, retailers must be aware of the products they offer. This will help them make informed decisions about what they sell. This knowledge can also make the difference between a good sale and a poor one. For example, knowing that a tool is best suited to the particular task can help you connect your client with the appropriate tool to meet their needs. This will help you build trust and loyalty with your customers. It will also give you the confidence that you're providing the complete solution. In addition, understanding the trends in DIY culture can help you know what your customers are looking for. As an example the increasing number of homeowners are taking on home renovation projects requiring the use of power tool. This could lead to an increase in the sales of these tools. According to DurableIQ, DeWalt is the leader in power tool sales with 16%. However, Ryobi and Craftsman have decreased their share year-over-year. Despite this the fact that sales on both stores and online are growing. Tip 3: Offer Full-Service Repair The most frequent reason that a buyer makes a tool purchase is to replace one that is failed or to embark on the task of a new one. Both of these tools offer opportunities for upsells or 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. These customers typically require additional accessories or need to upgrade to higher performing models. Your customer may have experience in DIY or is just beginning the hobby they will need to replace their carbon brushes, drive cords and power cords of their tools over time. These items will ensure your client gets the most from their investment. Technicians take into consideration three main aspects when purchasing power tools: application, how it will be used and safety. These aspects help technicians make informed choices when selecting the right tools for maintenance and repair work. This allows them to maximize the effectiveness of their tool and lower the cost of owning it. Tip 4: Always Keep Up with Technology The latest battery tools, for instance, offer smart technology which enhances user experience and sets them apart from competitors who still depend on older battery technology. Wholesalers of B2B who stock and sell these tools can increase sales by focusing on tech savvy contractors and professionals. For Karch, whose business has more than three decades of experience and a 12,000 square-foot department for tools, staying up with new technologies is essential. “Manufactures are constantly adjusting the design of their products,” Karch says. “They used to hold their designs for 5 or 10 years but now they change their designs every year.” B2B wholesalers should not just embrace the latest technologies but also enhance their existing models. For instance, by adding adjustable handles and lightweight materials, they can reduce the fatigue caused by prolonged use. These features are important for many professionals who must make use of the tools for long periods. The power tools industry is divided into consumer and professional groups and this means that the biggest players are constantly improving their designs and introducing new features to reach a wider audience. Tip 5: Create a Point of Sale The landscape of e-commerce has transformed the market for power tools. The advancements in data collection techniques allow business professionals to gain an entire overview of market trends which allows them to design marketing and inventory strategies more effectively. Point of sale (POS) information can, for example, allow you to keep track of the types of projects that DIYers are working on when purchasing power tools and other accessories. Knowing the types of projects your customers are undertaking enables you to offer additional sales and upsell opportunities. It also helps you to anticipate the needs of your customers, ensuring that you have the correct products on hand. You can also use transaction data to spot trends in the market and adjust production cycles accordingly. For example, you can make use of this information to track changes in your brand's and market share of retail partners, enabling you to adapt your product strategies to consumer preferences. Additionally, you can make use of POS data to improve levels of inventory and decrease the risk of overstocking. It can also be used to assess the effectiveness of promotional campaigns. Tip 6: Be a good neighbor Power tools are a tangled market with high profits that requires a significant amount of marketing and sales effort to stay in the game. The traditional methods to gain an advantage in this market have been through pricing or product positioning—but these strategies are no longer effective in today's omnichannel marketplace where information is distributed in such a rapid manner. Retailers that focus on customer service are more likely to retain customers and build brand loyalty. Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls, Wisconsin has a 12,000 square-foot power tool department. At first, the department offered a sampling of brands, but as he listened to contractor customers, he learned that most were brand loyal. Karch and his staff members ask their customers what they intend to do with the tool prior to showing them the options. This gives them the confidence to recommend the appropriate tool for the job and also increases trust with their customers. Customers who know their product are less likely to blame their supplier for a tool failure during the course of work. Tip 7: Be a guru in customer service The power tool market has become a highly competitive market for hardware retailers. Those who are successful in this category tends to be more devoted to a single brand rather than to carry a variety of brands. The amount of space a retailer can devote to a category may also determine the number of brands they can carry. When customers visit a store to purchase power tools, they often need help choosing a product. If they're replacing an old model damaged or undertaking a renovation project clients require expert guidance 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 will result in an offer. They begin by asking questions about what the customer plans to do with the tool, he says. “That's how you determine the type of tool you need,” he says. Then, they inquire about the customer's experience with various types of projects and the project. Tip 8: Be sure to be sure to mention your warranty The manufacturers of power tools differ greatly in their warranty policies. Some are completely comprehensive, while others are stingy, or refuse to cover certain parts of the tools at all. Before buying a product, it's important that retailers know the distinctions. Customers will only purchase tools from companies that will 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 within the premises that can handle 50 kinds of tools. He has learned that many of his clients are loyal to their brands. Therefore, he prefers to carry a select few brands instead of trying to offer samples of various products. He also likes that his employees can get one-on-one time with vendors to discuss new products and share feedback. This type of personal interaction is crucial because it helps build trust between the store and its customers. Building strong relationships with suppliers may result in discounts on future purchases.