Power Tool Sales and Marketing Strategies for B2B Retailers

Power tools are crucial for both professionals and users. Despite an expected slowdown in 2021 due to the COVID-19 pandemic demand remains near or at levels prior to the pandemic.

Home Depot is the leader in the sales of power tools based on dollar share. Lowe's is close behind. Both are competing with power tools manufactured in China.

Tip 1: Be committed to a brand


Many manufacturers of industrial products prioritize sales over marketing. This is because a long-term sale requires a lot back-and forth communication and in-depth knowledge of the product. This kind of communication doesn't lend itself to emotional consumer marketing techniques.

However, companies that make industrial tools need to rethink their marketing strategy. The digital age has overtaken traditional companies that rely on a small group of retailers and distributors to sell their products.

A key to selling power tools is brand commitment. If a client is committed to a certain brand, they are less sensitive to competitor's messages. They are also more likely to buy the client's products again and to recommend them to others.

To make a successful impact on the United States market, you must develop a well-planned strategy. This means adapting tools to local requirements and positioning your brand in a way that is competitive, and making use of distribution and marketing platforms channels. It is also essential to cooperate with local authorities as well as industry associations and experts. When you do this you can ensure that the power tools you purchase conform to the laws of the country and standards.

Tip 2: Be aware of Your Products

Retailers should be familiar with the products they sell especially in a marketplace that places such a high value on the quality of the product. This will enable them to make informed choices about the products they are selling. This knowledge could also be the difference between a good sale and a bad one.

For instance, knowing that a tool is suitable for specific projects will allow you to connect your customer with the right tool for their needs. This will allow you to build trust and loyalty with your customers. This will give you confidence that you provide an entire service.

In addition, understanding the trends in DIY culture will help you understand what your customers want. As an example the increasing number of homeowners are taking on home renovation projects requiring the use of power tool. This can result in a surge in sales of power tools.

According to Durable IQ, DeWalt leads in power tool unit share, which is 16%, while Ryobi and Craftsman brands have seen their share decline year-over-year. However, online and in-store sales are increasing.

powertools online : Offer Full-Service Repair

The most frequent reason that a buyer makes a purchase is to replace one that has been damaged or broken, or to embark on an entirely new project. Both provide opportunities for upsells or add-on sales.

According to the Home Improvement Research Institute's (HIRI) 2020 Power Tools and Accessories Product Purchase Tracking Study 35 percent of purchases for power tools resulted from an anticipated replacement. Customers often require additional accessories or may need to upgrade to higher performing models.

If your customer is experienced in DIY or is new to the hobby, they will have to replace the carbon brushes, drive cords and power cords of their tools in time. Being on top of these important items will allow your customer to get the most value from their investment.

When purchasing power tools, technicians look at three aspects: the tool's application the power source, and safety. These aspects help technicians make educated decisions about the most suitable tools to use in their repairs and maintenance tasks. This allows them to optimize the effectiveness of their tools and lower the cost of ownership.

Tip 4: Keep Keeping Up With Technology

For instance, the most recent power tools feature smart technology that improves users' experience and sets them apart from other tools that rely on old battery technology. Wholesalers in B2B who stock and sell these devices can increase sales by focusing on professionals and contractors who are technologically advanced.

For Karch who's business has more than three decades of experience and a 12,000-square-foot tool department, staying current with the latest technologies is crucial. He states that manufacturers are constantly changing their designs for their products. "They used to hold their designs for 5 or 10 years but now they alter them every year."

In addition to taking advantage of the latest technologies, B2B wholesalers should also concentrate on improving their existing models. By adding lightweight materials and adjustable handles, wholesalers can decrease fatigue caused by long-term use. These features are essential to professionals who employ the tools for a lengthy period of time. The market for power tools is divided into consumer and professional groups which means that the major players are always working on enhancing their designs and creating new features to reach an even larger audience.

Tip 5: Create an Point of Sale

The online marketplace has changed the market for power tools. Data collection methods have improved allowing business professionals to get a better understanding of the market. This helps them develop more effective inventory and marketing strategies.

By utilizing information from the point of sale (POS), you can track DIY projects your customers are completing when purchasing power tools and accessories. Knowing the type of projects that your customers are working on enables you to provide additional sales and opportunities to upsell. It also helps you anticipate the requirements of your clients, ensuring that you have the appropriate products available.

Furthermore, power tools online allows you to spot trends in the market and adjust production cycles in line with. You could, for instance utilize this data to monitor fluctuations of your retail partners' and brand's market share. This allows you to align your product strategies to consumer preferences. Additionally, you can make use of POS data to optimize levels of inventory and decrease the risk of stocking up. It can also assist you to assess 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 in order to stay competitive. The traditional methods to gain an advantage in this industry have been by positioning or pricing products. However, these tactics no longer work in the omnichannel world of today in which information is dispersed so quickly.

Retailers who make a point of service are better able 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 section. His initial department featured a variety of brands. However, as he listened to contractors, he discovered that they were loyal to their favorite brand.

Karch and his staff ask their customers what they plan to do with the tool before showing them the options. This gives them the confidence to recommend the best tool for the job and creates trust with customers. Customers who know their product are less likely to blame their vendor for a malfunctioning tool during the course of work.

Tip 7: Become a master of customer service

The market for power tools has become a very competitive area for retailers of hardware. The retailers that are successful in this category tends to be more committed to a single brand rather than to carry a variety of brands. The amount of space that a retailer can devote to a category may also influence how many brands they carry.

Customers frequently require assistance when they visit to buy a power tool. If they're replacing an old one that is broken or tackling an upgrade project, customers need expert advice from sales associates.

Mike Karch, president of Nue's Hardware and Tools in Menomonee Falls, Wisconsin, says his sales associates at the store are trained to ask the right questions to help make a sale. They begin by asking what the customer is planning to do with the tool, he says. "That's the way to decide what kind of tool they require," he says. Then, they inquire about the experience of the customer with different types of projects as well as the project.

Tip 8: Make an End of Warranty

The warranties of the power tool makers are very different. Some are fully comprehensive, while others are stingy or even refuse to cover certain parts of the tools at all. It's crucial for retailers to know the differences prior to buying, since customers will purchase tools from firms that provide them with a warranty.

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

He also appreciates that his employees are able to meet with vendors one-on-one to discuss new products and give feedback. This kind of interaction is essential because it helps create trust between the store and its customers. Good relationships with suppliers can even result in discounts on future purchases.