Today’s post is by Mark Davis; Vice President of Operations and CTO at SafeSourcing.
In this week’s series we have been looking at the retail cooperative and in particular focusing on some of the organizations out there in different market segments and what they are doing to separate themselves from other groups.
One of the most successful retail purchasing cooperatives is one that many people do not even know is a cooperative because of how well they are organized and branded; ACE Hardware.
ACE Hardware, which also includes True Value and Do it Best, represents the purchasing power of over 13,000 independent stores. Founded in 1924, by a small group of Chicago hardware store owners, the organization has become one of the most successful cooperatives in U.S. Retail history, allowing smaller stores to compete even in landscapes with larger competitors.
Some of the things that have made ACE so successful are the capability to convert your business to an ACE location, the capability of International opportunities and a huge support system for advertising and marketing needs.
Conversion – One of the unique benefits this group offers to companies is the capability to convert your existing business to an ACE, True Value or Do It Best format. With this benefit comes a slew of professional services that help owners with the transition into the ACE family. With every conversion a customized plan is developed to ensure the easiest and most efficient transition occurs.
International – With the ACE brand being one of the top 100 most recognized brands in the world, the opportunity for international cooperative services and purchasing power opens doors in a way that would traditionally never be accessible to most retailers.
Advertising/Marketing – As with some other cooperatives, one of the big benefits ACE, True Value and Do It Best bring to its members is a cost effective marketing programs that can drive sales and traffic at a level on pace with the larger national chain hardware stores.
For more information on the retail industry’s cooperatives or other ways you can leverage the buying power of a purchasing group, please contact a SafeSourcing Customer Service Representative.
We look forward to your comments.