Home improvement retailers offer various products, from high-value power tools to inexpensive special-fit fasteners. These slow movers generate little sales data and can be difficult to predict for distribution center inventory needs or supplier demand.
Most shoppers rank product availability and competitive prices as the most essential qualities in a home improvement store. Many also report strong brand loyalty toward their favorite hardware stores.
Look for a Reputable Company
When deciding on a home improvement retailer to work with, look for one that has insurance. This protects the contractor in case of an accident and provides peace of mind for you as a consumer. It is also a good idea to check for complaints with the Better Business Bureau before hiring anyone.
Professional contractors primarily focus on small-scale projects for homeowners, although they may be subcontractors on more extensive, complex renovations managed by general contractors. Home improvement retailers offering fast, easy, and reliable service to pro customers will likely attract a loyal following.
For example, some home improvement retailers designate a particular area or checkout for contractor services and clarify it with overhead signage. Some even provide a dedicated concierge who can help with product selection and answer questions. To discover more, click here; this is a great way to differentiate. It can also be a valuable source of referrals for your business. 40% of buyers who report having taken up a new hobby during the pandemic have done so because they wanted to renovate their homes.
Look for Experience
When it comes to choosing a home improvement retailer, experience matters. Having been in the business for a long time means they know what they’re doing and can provide quality products. This is especially important when it comes to large-scale projects. For example, if you’re looking for a kitchen remodel contractor, you want to ensure they have the experience to do the job right.
Although professional remodeling was briefly paused at the pandemic’s start, demand is now picking up again. As such, retailers need to understand how this shift in consumer behavior impacts their business.
One way to do this is by utilizing customized market research. Rather than relying on generic insights, this research can help identify trends in customer demand and supply chain profitability. By booking a consultation, you can learn more about how custom market research can benefit your company within the DIY and home improvement industry.
Look for Customer Service
Regarding home improvement, the customer experience is a top priority for most shoppers. The best home improvement retailers understand that their customers want fast, easy-to-use self-service tools for tracking orders, scheduling installations, and managing warranties. As a result, these retailers provide these tools and more in their online channels.
For example, Lowe’s and Home Depot offer convenient online shopping with a self-service help center that allows customers to track orders, schedule installation, and manage their warranties. In addition, they also have in-store locations for customers who prefer to shop in person.
Home Depot and Lowe’s are the two largest home improvement retailers, but many others exist, including Menards, Ace Hardware, and True Value. These chains offer a variety of products, good deals on shipping, and loyalty programs. They are a great place to get all your home improvement needs, including wiring materials, in one place. They can even offer same-day delivery services for specific items, which is especially helpful when working on a big project. This helps keep your project on schedule and prevents delays in getting the needed products.
Look for Insurance
Home improvement is a vast industry, with consumers and contractors spending billions on projects yearly. These projects can be simple or complex but require high-quality materials and skilled labor. As such, looking for a retailer that offers a wide range of home improvement products and services is essential.
While online shopping is increasingly popular, shoppers still appreciate a great in-person experience in home improvement retail. In fact, according to the J.D. Power 2023 U.S. Home Improvement Retailer Satisfaction Study, 87% of home improvement purchases are made in brick-and-mortar stores. This is especially true for DIY customers, with 89% of purchases made on the first store visit.
While the housing market may slow down, homeowners are still willing to undertake more home improvement projects. Searches for home improvement items doubled during the COVID-19 pandemic, and experts expect these trends to continue well into the future. As a result, retailers should focus on leveraging digital marketing strategies to drive traffic and build loyalty.
Look for a Reputable Contractor
A reputable contractor can ensure your home improvement project goes smoothly and turns out exactly how you want it to. When interviewing contractors, ask for a list of local references with phone numbers and addresses and call each one. Please pay attention to how responsive each pro is when you contact them and how quickly they respond.
Also, ask contractors about their insurance coverage, including worker’s compensation and liability. Ask whether they have state licensing or registration requirements and belong to a professional trade association. Checking a pro’s BBB profile is another way to learn more about their complaint history and work ethic.
Getting bids from multiple contractors and comparing prices carefully is essential. Ensure each contractor has clearly outlined what you want done, including the cost of materials and a typical profit margin. The best contractors will happily answer any questions and give you a detailed contract proposal for your review. They will even be willing to negotiate. But be ready to walk away if you disagree with the contract terms.