Seasonality Tips for Your Hardware Store
While 2020 was a slower-than-anticipated year for retailers, the winter months ahead will likely be just as light. First-quarter retail growth has a grim prediction, with an anticipated spike in sales come the second quarter when the coronavirus vaccine is expected to be more widely available. Spring is generally the hottest time of year for hardware stores, as consumers flock to stock up on gardening supplies, lawncare items, and gear to get going on those home-improvement projects that’ve been ignored for what seems like forever. Until then, let’s make the most of these wintery days with some seasonality tips for your hardware store.
Highlight Related Products
A great way to bring in revenue during off-peak times is to focus your retail real estate on products related to what you sell in your peak times. For instance, even though it’s not planting season, plenty of folks these days are embracing indoor gardens, terrariums, and houseplants. Section of an area of your store with pots, potting soil, decorative hangers, succulents, etc. to catch the eye of your quarantine-weary customers. Comb through your inventory and research what would provide value to those entering your store. It could be firewood, driveway salt, shovels, or painting supplies.
Stay Active on Social
Just because sales are slow doesn’t mean your company should go into hibernation. Keep the conversation alive on your social media accounts, with a regular content calendar filled with posts on DIY projects, trends in home improvement, and special sales. If there’s wintry weather headed your way, engage with your community on tips for staying safe during the storm or how to shovel snow without hurting your back! Don’t forget to mention which products you post about can be purchased in-store. Engagement strategies like this are perfect for keeping your brand top-of-mind when your peak season does roll back around.
As a small business owner, sometimes downtime is just what you need in order to stay relevant in the game. Use these months to attend trade shows and industry conferences, and network with local business owners to share tips and advice on owning a store in your area. This is the perfect time to expand your knowledge, learn new things about your industry, even pick up a few strategies for the coming seasons.
Hardware stores are uniquely positioned to offer loads of labor for community service projects. From the staff to the shoppers, every day there are likely folks within your store that are hungry to help their area. See what you can get involved with—be it cleaning up a park or helping fix sidewalks—as a way to not only show good faith in your community, but to raise awareness for your store. Community service is one of those things that certainly doesn’t have an off-season, so what better way to spend yours?
When push comes to shove, the way most retailers adjust their strategies for seasonal impacts is to think outside the box along with the above seasonality tips for your hardware store. Grab feedback from your customers to learn what they’d most like to see in your store. Ask them to leave a review on Google or Yelp of your establishment. And use your standing in the community to garner goodwill and establish a solid customer base. For more insights on running a small business, or to see how ARF Financial can help fund your success with a custom loan built to suit your needs, pop over to our website and learn more. Cheers to a safe, prosperous new year!