For decades the expression “as GM goes, so goes the economy” was adhered to by many economists and Wall St. Investment firms. Times have changed and the new bell weather indicator is now Home Depot. Yesterday Home depot reported a healthy 5.8% increase in quarterly sales to 23.8 billion. A clear indication that regardless of the softening in sales of new homes, people are busy painting, landscaping, changing, windows ,doors, locks, flooring and appliances, just to name a few. According to management they claim that part of the boost in sales was due to the effectiveness of managing the productivity of each square foot. Rearranging departments and creating more space for the higher demand services allowed for this. While the Pawnbroker is not a direct competitor of Home Depot, many serve the same client. Many pawnshops are the aftermarket for professionals who work in the home remodel and home repair business. That said, what are you doing to capture more of their business? What efforts are you making to make your store square footage more productive to meet these new strong economic trends? Even if having an inventory of home tools is not your strength, providing the funding is always your game, and from the signs that Home Depot just reported, the game in home improvement is on!
Tell Tale Signs – As Home Depot Goes so Goes the Economy
Tell Tale Signs – As Home Depot Goes so Goes the Economy
2014-08-20
Marc Cohen
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For decades the expression “as GM goes, so goes the economy” was adhered to by many economists and Wall St. Investment firms.
Times have changed and the new bell weather indicator is now Home Depot.
Yesterday Home depot reported a healthy 5.8% increase in quarterly sales to 23.8 billion.
A clear indication that regardless of the softening in sales of new homes, people are busy painting, landscaping, changing, windows ,doors, locks, flooring and appliances, just to name a few.
According to management they claim that part of the boost in sales was due to the effectiveness of managing the productivity of each square foot. Rearranging departments and creating more space for the higher demand services allowed for this.
While the Pawnbroker is not a direct competitor of Home Depot, many serve the same client. Many pawnshops are the aftermarket for professionals who work in the home remodel and home repair business.
That said, what are you doing to capture more of their business? What efforts are you making to make your store square footage more productive to meet these new strong economic trends?
Even if having an inventory of home tools is not your strength, providing the funding is always your game, and from the signs that Home Depot just reported, the game in home improvement is on!
