Independent retailers wear many different hats to maintain day-to-day operations and deal with factors dependent on the economy's health. The local hardware store or home center is a unique business niche that caters to a specific segment of customers. Many of these family-owned businesses have been in the exact location for generations. They continue to exist when others have failed because they understand what customers want and expect of them. • Sell quality products and services at a fair price that solves a problem or improves my home. • Hire great employees who share information and knowledge to help me complete projects with confidence • Make shopping enjoyable and convenient—get me out the door quickly.

Some retail operations face an uphill battle to generate sales this holiday season. Yet, there may be better options than taking drastic measures to increase profit margins. When confronted with spiraling costs due to high inflation, retailers may opt to lay off loyal employees or give the store away by offering shoppers exorbitant discounts. There are ways to deal with rising costs and declining sales that can improve operations and provide long-term benefits.

Home improvement retailers know the people they employ are critical to the success of their business. However, it can be an ongoing challenge to hire and retain employees who share your vision, are consistently productive, and display a positive attitude. Yet, it's possible. Some hardware stores experience little turnover and have maintained a top-notch staff for years

When will things get back to normal? The reality is life will never be the same as it was ten years ago, two years ago or even yesterday. While change typically happens at a slower pace than it has during the pandemic—it is a constant occurrence that requires us to adjust our behavior and think differently.

So, are you getting your store ready for the holidays? It may seem a bit early, but September is the best month to start planning the promotions your business will need to bring in holiday shoppers. The retail environment is unpredictable for major big box retailers regarding excess inventory and supply chain issues.

Owners often believe that incorporating new technical solutions into their organizations comes with a hefty price tag that outweighs any potential benefits. In reality, failing to upgrade limits the company’s potential growth and gives competitors a distinct advantage that increases over time. Start by focusing on technological advancements

Female shoppers have tremendous buying power and often influence the purchasing decisions of other family members. Independent retailers who analyze this group’s shopping and spending behavior will understand their motivation and can develop an effective strategy that targets these shoppers.

Pet owners also want to purchase products for their pets that help keep indoor spaces clean and odor-free. The purchase of health and wellness products by pet owners has caused sales to surge due to the “Premiumization” and “Humanization” trends that are transforming all facets of this booming industry.

Retail sales revenue from those categories, compared to 2019, has continued to grow by double-digits. This growth indicates that health and wellness is an enduring pandemic trend, which could provide opportunities for consumer spending.

When products are displayed in an organized fashion, it drives sales and promotes a positive reflection of the brand. Smaller retailers face stiff competition from big-box retailers such as Home Depot and Walmart, so connecting with customers is vital.