Hardware Retailing The Industry's Source for Insights and Information
By Jim Robisch
Senior Partner & Adviser, Ret.
The Farnsworth Group
Some retailers are exceptionally more successful than others. They are masterful at their strategic planning, operational execution, product assorting, marketing and communications. Further, truly exceptional retailers do things that clearly distinguish their value in their markets. These things make them stand out above their competitors and make them the first choice for customers.
These retailers develop and provide uniqueness. They give their customers something special not available from other sources. These great retailers know and understand their customers and do things to excite their customers. Retail evolution has produced this tendency to move toward sameness. Stores are scaling for “optimal” efficiency. However, retailers need to be cautious to not let this sameness cause them to lose their personality. Personality is the essence of an independent brand. It’s what lives in the minds of your customers. It’s who you are, and it sets your store apart from the homogeneous group of store types in your retail sector.
Store programs are great for assisting independents with their brand management. They check the boxes of things that have been identified as important to your customers. Store programs also allow for better alignment of your brand’s offerings with your customers. This is what I like to call “addictive excitement.” This is where you can clearly differentiate who you are. Here, the sky’s the limit. Opportunities abound. Often, the crazier, the better.
Talk to your customers. They’ll tell you what really excites them and what you most need to know. Talk to your team. Your team is on the frontline every day. Talk to customers who you have lost and others who don’t shop with you. Talk to fellow retailers who have wild and crazy ideas that are working for them. There is no shortage of inspiration here. I’m most partial to direct customer feedback. Decisions based on the voices of your customers are critical in crafting your uniqueness and separating your brand from others.
A final component to being exceptional that cannot be overlooked is the entrepreneurial passion that is a key part of being an exceptional retailer. While hard to define, it’s that burning inside of you. It’s that thing that you think just has to be a part of what you are and must be a part of your brand. Yes, it has to be relevantly associated with your customers’ wants and needs, but it’s also something different and unique. It’s something that can set you apart in this over-retailed world.
After all, one size doesn’t always fit all. Till next time.
Meet Jim
Jim Robisch has been working in the home improvement channel for over 40 years. He is retired from The Farnsworth Group, where he was a senior partner and adviser focusing on retail research and consulting. He directed retailer and wholesaler services activities for the firm, including customer intelligence, brand image and positioning, market expansion, customer satisfaction, growth and strategic planning. Jim has worked with more than 1,000 independent retailers and over 50 of the top industry chains and the largest wholesale groups. He has evaluated over 1,000 trading areas and visited over 10,000 stores. In retirement, Jim remains active with consulting work and serving on numerous industry and non-industry advisory boards.
Email: jrobisch@thefarnsworthgroup.com
LinkedIn: Jim Robisch
