Operations

In the April issue of Hardware Retailing, our story about an operation’s online presence (“Is Anyone Doing Online Right?”) offers some tips for best practices for retailers looking to make the most of their basic websites, email marketing, social media …

Engagement is what shoppers seek as they peruse retail stores and browse online shopping platforms. Customers want to see something intriguing or have a personal experience with products. Product videos not only provide engagement and visibility but they also provide a …

By Roger Bensinger Faced with tough competition from the likes of Amazon and eBay, retailers everywhere are focused on giving people a reason to put down their devices and visit their stores. Naturally, one component of this strategy is to …

There are five elements of a pricing strategy necessary to remain competitive: 1. Competitive variable pricing 2. A price-matching policy 3. A robust price-shopping routine 4. Innovative use of technology and 5. Good retailing practices. All of these tactics are …

Hardware Retailing magazine’s March 2015 issue features an article focused on the changes in pricing strategies over the years. The story also discusses how retailers can stay competitive today as variable pricing evolves and dynamic pricing spreads. The full story can be found here. The …

To download a PDF of this story, click here. Visit hardwareretailing.com/2015pricing-study to view the NRHA’s 2015 State of Pricing Study.  Whether you like it or not, today’s consumers have access to detailed pricing information for every item in your store. In fact, in some cases, …

Rick Alspaugh needed a solution to his Texas store’s overflowing parking lot, and building a parking garage didn’t make financial sense. As the problem worsened, a neighboring business was turning Alspaugh Ace Hardware’s customers away so its own tenants had space for parking. Some …

Retailers who focus mainly on increasing customer counts and average ticket sizes are missing a key metric: conversion rate. Conversion rate is the ratio of people who enter a store compared to how many actually make a purchase. Only 35 percent of retailers …