Hardware Retailing The Industry's Source for Insights and Information
Distributor buying markets are the top ways retailers gather information about new products, product lines and programs, according to data from a 2014 North American Retail Hardware Association (NRHA) study.
To better understand retailers’ common practices at distributor buying markets, NRHA surveyed retailers about what markets they attend and the amount of annual purchasing they do at these markets. Survey results can be seen below.
Applied to Retail: Before you attend an upcoming market, sit down and determine what your goals are for the market. As mentioned above, on average, retailers complete 18 percent of their annual purchasing at buying markets. But buying may not be your top priority.
Maybe you go to markets to meet with co-op reps, network with fellow retailers, attend educational seminars, simply walk the show floor in search of new and unique products, or all of the above. Set goals and a rough schedule ahead of time, so you get the most out of each market.
Every market is different and retailers each have their own way of preparing for and working markets. Read an article from the February 2016 issue of Hardware Retailing for tips from other retailers on how to go to market.
