Merchandise drives traffic at True Value market
Two notable newcomers appearing at the True Value Fall Market show floor in Salt Lake City were Stihl power tools and Benjamin Moore paints.
Loyalty to national brands drives traffic, according to True Value senior VP and chief merchandising officer Mike Clark.
Clark also stressed the value of private label, and explained the co-op’s internal strategy for its private-label program, including Master Mechanic and Green Thumb products. The idea is to ensure each private-label SKU features the same benefits at a lower price than a national brand, or more benefits at the same price as a national brand.
It’s a tall order, but Clark pointed to statistics from Nielsen research that showed 75% of consumers feel private brands are a good alternative, and 63% of consumers feel “quality is just as good.”
The True Value Fall Market in Salt Lake City also showcased the co-op’s expansion into Farm and Ranch, which was arranged like a store within the show floor at the Salt Palace Convention Center.
The essential planograms were on display, along with live chicks and small ponies.
“What we're providing here is the category management that is so needed in this industry,” said Kevin Rewerts, divisional VP automotive-pet-farm and ranch.
The co-op’s vision for growth is ambitious. A stated goal to grow its pet, automotive, farm and ranch business by more than $100 million over the next four years.