OPE e-commerce dealer opens first store
Power Equipment Direct, an Internet-only retailer with nine e-commerce sites, has opened its first bricks-and-mortar store — right down the street from Home Dept, Lowe’s and Sears. According to an article in Internet Retailer, the Bolingbrook, Ill., location, a suburb of Chicago, is adjacent to one of the company’s warehouses, allowing immediate fulfillment of most orders.
Founded in 2003, the privately owned company waited until last December to test a “pop-up” store for the snowblowers sold through SnowBlowersDirect.com. By February, after store sales exceeded expectations, company founder and CEO Jon Hoch decided to make the store permanent and offer shoppers his full line of products, which include lawn mowers, pressure washers, air compressors, chain saws, electric generators, log splitters, sump pumps and water pumps.
Each product category has its own e-commerce site, and Hoch said he will consider opening additional stores if the current pilot continues to be successful.
The Internet Retailer clearly
The Internet Retailer clearly states a broad view of how online platforms host and facilitate the development of so many e-commerce stores. I have recently read an article on some web news channel about the fact that Tucson internet service providers have received great reference over some technical assessment and their client numbers are increasing. This is obviously an industry in full expansion.
Consumers continue to plan ahead before shopping
While fewer consumers are seeking out private-label options this year, preplanning activities continue to be a priority, according to a new survey conducted by SymphonyIRI Group.
In SymphonyIRI’s inaugural MarketPulse survey, the group found that 2-out-of-3 shoppers today are making shopping lists prior to visiting the store, while 56% are reading store fliers either before or at the store — statistics that are in line with trends noted in 2010.
What’s more, consumers are shifting back to their favorite brands, although they noted that value is essential when purchasing products. For example, 38% of consumers in 2011 are giving up their favorite brands to save money (down from 46% in 2010), while 36% of consumers actively are seeking out private-label brands to save money today, versus 44% in 2010. From a price standpoint, 64% of respondents said price has become a more important consideration than convenience in brand purchases, a six-point decline from last year.
"An economy in transition to recovery is as tricky to navigate for CPG, retail and healthcare leaders as an economy moving into recession," said John Freeland, president and CEO at SymphonyIRI. "Some shoppers are retaining their frugal ways, others are spending more freely across the board, and others still are spending more on some types of products, but remaining tight-fisted about others. They are also re-evaluating where they purchase their products and updating their definition of value."
"This review of product and retail value proposition provides an outstanding opportunity for manufacturers and retailers willing to analyze carefully discrete shopper microsegments and understand the motivations and drivers of each,” Freeland added.
SymphonyIRI released the survey results during its Summit 2011 conference, which was held in Florida this week.
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Toro CFO to retire
Bloomington, Mich.-based Toro Co. has announced that Steve Wolfe, VP finance and chief financial officer, will retire on July 31 after 27 years with the company.
Wolfe joined Toro in 1986 as part of the acquisition of Wheel Horse Products, where he was VP finance and treasurer. Following the acquisition, he was named president of Toro Credit Co. in 1990, and became VP finance, treasurer and CFO in 1997.
"Steve has been instrumental in improving Toro’s financials over the past decade, building a strong finance organization and helping create a culture of financial discipline across the company,” said Michael J. Hoffman, Toro’s chairman and CEO. “His efforts will benefit Toro well into the future."
Toro has begun to search for Wolfe’s successor and expects to name a successor and transition financial leadership prior to Wolfe’s retirement.
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