Top retailers share their wisdom
Las Vegas — The “Top Guns” of the hardware business shared the stage here at the National Hardware Show, where they also shared best practices and a variety of thoughts on the state of independent retailing today — and in the future.
The Top Guns were selected by the organizers of the 2018 NRHA All-Industry Conference on the basis of high-performance, passion for the industry and connection to the community. Now in its 11th year, the 2018 program honorees (the Top Guns) are:
On Tuesday at the Hardware Show, they assembled for a panel discussion of big issues and big challenges. Here are some of the highlights, edited, and arranged by topic:
On how the hardware business is changing:
Amanda Fancy: “The market is changing every day. Definitely, the customer is changing and so is the experience they are looking for in store. For us it’s about creating a culture in our store for our current customers and also to get the millennials into our store.”
Jamie Gentner: “I think there are a lot of changes coming in the next 10 years especially with the rapidity of change. Customer expectations are constantly changing. You have to trust yourself that you are doing right for your business, and you have to keep paying attention.”
Megan Menzer: “Increasingly our job is going to be to educate the consumer. For example. We used to sell paint thinner. Simply paint thinner. Well, now people come in and want brand XYZ and they want it in a 16.1 oz. can, not a 16.2 oz. can. And that is a challenge: educating the employees to convert that customer and make that sale by explaining to them the value of our products is going to continue to be important.”
On challenges faced by the independents:
Megan Menzer: “We all face a lot of the same challenges. For instance, in the past a product that’s hot today would be hot for 18 months. And now all of a sudden, it’s hot today and it’s completely dropped tomorrow. So learning how to get in and get out, it’s a complete gamble. It’s hard to manage. Technology is going to be another real challenge. We just updated all of our software. It’s a huge expense but it has to be done and maintained.”
On hiring and motivating employees:
Angela Merritt: “Moving forward, hiring is going to continue to be a difficult hurdle for most independent retailers. We’re in a small community. I reach out to the local high schools. We try to get the good kids early and try to hang on to them. It’s difficult to find someone who can fling a 50-pound bag of dog food on their shoulder and walk it out to the customer’s car -- and do it with a smile on their face.”
Jamie Gentner: “San Francisco has a 2.9% unemployment rate. So it’s hard to find employees. People are looking at your business and asking if they want to work for you. So the way you’re branding yourself matters. They checked you out, and they have access to so much information now.“
Amanda Fancy: “We have gone from a six-days-a-week to seven-days-a-week operation, and for a small town that’s a big deal. So it’s really important for us to keep our people motivated. One thing we do is operate a private staff Facebook page, and we constantly highlight staff and the good things they’ve done in the business.”
On the origins of their careers in hardware retailing:
Amanda Fancy: “About 23 years ago I took a job as a part time cashier at the store and the rest is history.”
Angela Merritt: “I started out young, answering the phone for my parents’ dairy equipment business.”
Jamie Gentner: “I got started when I was eleven.”
On building relationships in their local markets:
Angela Meritt: “It’s about building relationships with your customers. Our main store is in a town that’s pushing 800 people. I know literally everyone in town and what they’re working on at home. When they have that comfort level with you, they want to come back. Each of our three locations have amazing relationships. And I think that makes us literally a part of the communities we’re in.”
On the importance of peer-to-peer networking:
Jamie Gentner: “There’s always someone smarter than you are. Somebody might be able to look at a challenge with fresh eyes. If we don’t help each other, then the big guys win. I would much rather send business to other independents then send them to Lowe’s. Sorry Lowe’s. I know everyone is not comfortable sharing numbers or strategies, because some of you are competing with other independents. But I think we should help each other. “
On looking into the future of their own retail business:
Amanda Fancy: “We are looking to grow, and we’re in the process of starting to build a new store.”
Angela Merritt: “I think in each of our locations, the next 10 years will be tough on some of the other businesses in town, and I think we will become more of a five-and-dime, with hardware. I anticipate in 5 to 10 years, I might be selling beer, in a hardware store. I think what I have in the store is going to change dramatically. I do have a lot of customers who are into the shop-small thing, and it behooves all of us to promote that. I think I’ll just be selling a greater variety of products.”
The Top Guns were selected by the organizers of the 2018 NRHA All-Industry Conference on the basis of high-performance, passion for the industry and connection to the community. Now in its 11th year, the 2018 program honorees (the Top Guns) are:
- Amanda Fancy — Gow’s Home Hardware (Bridgewater, Nova Scotia);
- Jamie Gentner — Center Hardware & Supply (San Francisco);
- Megan Menzer — Newton’s True Value (southeastern Kansas); and
- Angela Merritt — Ederer’s Do it Best (three locations in Wisconsin).
On Tuesday at the Hardware Show, they assembled for a panel discussion of big issues and big challenges. Here are some of the highlights, edited, and arranged by topic:
On how the hardware business is changing:
Amanda Fancy: “The market is changing every day. Definitely, the customer is changing and so is the experience they are looking for in store. For us it’s about creating a culture in our store for our current customers and also to get the millennials into our store.”
Jamie Gentner: “I think there are a lot of changes coming in the next 10 years especially with the rapidity of change. Customer expectations are constantly changing. You have to trust yourself that you are doing right for your business, and you have to keep paying attention.”
Megan Menzer: “Increasingly our job is going to be to educate the consumer. For example. We used to sell paint thinner. Simply paint thinner. Well, now people come in and want brand XYZ and they want it in a 16.1 oz. can, not a 16.2 oz. can. And that is a challenge: educating the employees to convert that customer and make that sale by explaining to them the value of our products is going to continue to be important.”
On challenges faced by the independents:
Megan Menzer: “We all face a lot of the same challenges. For instance, in the past a product that’s hot today would be hot for 18 months. And now all of a sudden, it’s hot today and it’s completely dropped tomorrow. So learning how to get in and get out, it’s a complete gamble. It’s hard to manage. Technology is going to be another real challenge. We just updated all of our software. It’s a huge expense but it has to be done and maintained.”
On hiring and motivating employees:
Angela Merritt: “Moving forward, hiring is going to continue to be a difficult hurdle for most independent retailers. We’re in a small community. I reach out to the local high schools. We try to get the good kids early and try to hang on to them. It’s difficult to find someone who can fling a 50-pound bag of dog food on their shoulder and walk it out to the customer’s car -- and do it with a smile on their face.”
Jamie Gentner: “San Francisco has a 2.9% unemployment rate. So it’s hard to find employees. People are looking at your business and asking if they want to work for you. So the way you’re branding yourself matters. They checked you out, and they have access to so much information now.“
Amanda Fancy: “We have gone from a six-days-a-week to seven-days-a-week operation, and for a small town that’s a big deal. So it’s really important for us to keep our people motivated. One thing we do is operate a private staff Facebook page, and we constantly highlight staff and the good things they’ve done in the business.”
On the origins of their careers in hardware retailing:
Amanda Fancy: “About 23 years ago I took a job as a part time cashier at the store and the rest is history.”
Angela Merritt: “I started out young, answering the phone for my parents’ dairy equipment business.”
Jamie Gentner: “I got started when I was eleven.”
On building relationships in their local markets:
Angela Meritt: “It’s about building relationships with your customers. Our main store is in a town that’s pushing 800 people. I know literally everyone in town and what they’re working on at home. When they have that comfort level with you, they want to come back. Each of our three locations have amazing relationships. And I think that makes us literally a part of the communities we’re in.”
On the importance of peer-to-peer networking:
Jamie Gentner: “There’s always someone smarter than you are. Somebody might be able to look at a challenge with fresh eyes. If we don’t help each other, then the big guys win. I would much rather send business to other independents then send them to Lowe’s. Sorry Lowe’s. I know everyone is not comfortable sharing numbers or strategies, because some of you are competing with other independents. But I think we should help each other. “
On looking into the future of their own retail business:
Amanda Fancy: “We are looking to grow, and we’re in the process of starting to build a new store.”
Angela Merritt: “I think in each of our locations, the next 10 years will be tough on some of the other businesses in town, and I think we will become more of a five-and-dime, with hardware. I anticipate in 5 to 10 years, I might be selling beer, in a hardware store. I think what I have in the store is going to change dramatically. I do have a lot of customers who are into the shop-small thing, and it behooves all of us to promote that. I think I’ll just be selling a greater variety of products.”