Local, independent hardware stores aren’t the past; they’re the future
House-Hasson Hardware has rolled out a new program for its independent retailers, allowing them the opportunity to help extend credit lines to their customers.
The distributor introduced this program to help remove risks their retailers faced for carrying their customers’ notes on big-ticket items. The program offers nine different credit options.
Don Hasson, president of House-Hasson Hardware, says the extended credit plans benefit customers of hardware stores and lumberyards, while reducing the associated retailer risk.
The program is operated through Distribution American, the buying co-op of which House-Hasson is a member, and had a “soft” rollout during the distributor’s January 2015 Dealer Market.
“The competition out there is tough, and we’re always looking for ways to help our dealers be more competitive,” Hasson says. “It’s another advantage for independent hardware store and lumberyard customers.”
Dave Helfenberger, House-Hasson’s marketing vice president, says requests from retailers helped push the efforts for the extended financial plan.
Alliance Data Retail Services, of Columbus, Ohio, is the program vendor. The company works with some 150 retail brands, including Gander Mountain, Marathon, Victoria’s Secret and more.
“When dealers enroll in the program, Alliance Data underwrites them and sets up training webinars,” Helfenberger says. “After dealers have familiarized themselves with how it works, they can offer financing accounts for big-ticket items.”
Additionally, Helfenberger says all nine credit options are online, eliminating plastic credit card instruments. The two most popular are the six months and 12-month no-interest options.
“Customers can defer interest as long as they pay off the purchase within the promotional period,” he says.
The extended credit program is another service that enables independent retailers to better compete with the big-box stores, Hasson said.
“Local, independent hardware stores aren’t the past; they’re the future,” he says. “People want to know they’re shopping in a place that can meet their needs and wants, and that also knows them personally, by name, as a neighbor, not only as a customer.”