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August 2020

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Is the Power tool Industry Set for a Market Boom in 2021?

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This past year has been a tumultuous one. Life as we knew it was turned on its head and things will likely never go back to normal again. And the commercial market is no exception to this huge paradigm shift.

Physical shopping is now riddled with new restrictions in terms of what we must wear while in the store and how we move about the aisles. And that’s great. Anything that keeps customers and staff safer during this troubling time is a huge plus in our books.

But it does mean a lot of businesses are struggling to stay afloat, particularly those without an online presence. But it seems some areas of the commercial market are actually on a steady increase. And it might surprise you.

We spoke to a few market experts and consumers to find out if the Power tool industry is set for a massive market boom in 2021.

 

Lockdown Construction

The power tool industry has always been fairly stable. As a business or casual user makes use of their power tools, they will encounter a certain amount of natural wear and tear. This means most power tool products will need to be repaired or replaced eventually, meaning the market always has demand.

In recent years, due to technology improving and becoming more resilient, the market numbers for this industry have dropped a bit. Nothing major but there is a definite decline.

Then the pandemic happened. A horrible, heartbreaking experience. People were forced to stay inside for months on end. And when it started the market saw a sudden sharp uptake in purchase numbers of power tools.

Our market expert attributes this to the sudden increase of people taking up DIY projects that they have been putting off, or families looking to work together and create something new in their garden. When people suddenly find themselves with time on their hands, it is amazing what products get boosted.

The sites that seemed to flourish were ones aimed at home users and individuals, rather than wholesalers or cooperate supply chains. It is this key bit of data that allows us to understand why this increase is taking place.

 

Website Analytics

Continuing our research, we asked some data analyzers to dig into the online stats in relation to power tool information and guides. They found the number of people looking online for how-to guides for power tools increased almost ten-fold within a month. A startling increase.

One of the more popular guides that were accessed was an impact driver guide. This information is important as it allows us to see what type of DIY work customers are partaking in. With that information to hand, our experts can safely predict what products are going to see a boost in sales in the coming month.

How? Any hardware store or DIY expert worth their salt will know exactly what tools, products, paints, and other materials will be used for any type of project. Even personalized art projects. So with that information to hand, we can carefully graph out the next few months of DIY sales.

 

2021

Our research has to lead us to one conclusion. If the world continues in this upward trend of DIY and home improvement, the Power tool industry is set to boom in 2021. Most small scale retailers and home improvement stores will see a sharp increase in customers and sales.

But is this all good? We have to examine the other side of the argument as well. As one market booms, another will shrivel. And that is the industry of professional handymen and construction firms.

Normally relying on the fact that most home-owners won’t get their home renovations done themself, these professionals are going to take a serious hit as more people become self-sufficient.  And in an economic climate crippled by the pandemic, is this what we want?

Our advice is this. Get your hands stuck in with some fun DIY projects. Build a new shelf. Create something with the family. But if you do have a large renovation project that needs doing. Support the local economy and hire a professional. If we all do our part, we can build a better tomorrow

 

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Trade Tips: How to Properly Maintain a Fleet of Work Vehicles

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If you’re running your trade business and you’re now beginning to find that you’re often struggling to keep up with demand. If you’re feeling like you have to be in 8 places at once or you’re even at the point where you’re having to turn down jobs, you may be at a stage where you need to expand your business to keep up with demand. When you’re planning on expanding your business as a tradesman, the key to successful expansion is to get yourself into a position where you can hire more workers. Once you’ve interviewed and trained your potential employees, it may be time to look into maintaining vehicles that your employees can not only use to get to jobs but that you can also get personalized to have your company logo plastered along the side. Now your company is not only able to get to more jobs at once but now you can get free advertising for your company as you travel to do a job. So, if you’re thinking this may be the next step for you, but you’re not sure as to how you would keep the vehicles running, keep reading to see how you can successfully maintain a fleet of work vehicles.

 

How to Keep Things Cost-Effective

When you’re first looking to arrange a fleet of work vehicles, it may be worth checking to see if any of your employees have access to a van. That will save you having to buy a new van and means the only cost will be the personalization and company insurance. If you’re having to invest in a couple of company vans, it may be worth looking online to see if you can get some good quality second-hand vans. If you’re wanting to look at some used vans, there are plenty of places online for you to search. It could end up saving you a lot of money and means you’ll have extra money for the maintenance of the vehicles. Just be sure to do your research and take test drives before buying anything.

 

How to Maintain the Vehicles

Once you have your small army of company approved vehicles, the next step is making sure that they’re all properly serviced; you don’t want any of your vehicles breaking down on the way to a job. You can book each of the vehicles in for an annual service to make sure everything is working in order. It may be worth asking your employees to do their best to keep the vehicles looking clean and tidy, it’ll set a better precedent for your company. One of the most important things is getting your company logo on the side of your vehicle. Many companies have been investing in personalizing the side of their vehicles, one company killing the vehicle branding game in New Jersey is permakillexterminating.com. A quick look at their site you’ll see how they use their vehicles as another tool to help broadcast their business. It is a small investment that will pay off big time in the future. Just be sure to mention your contact details as well.

 

One of the most important things you can do to help ensure your work vehicles are kept in their best shape is to communicate with your employees. You can arrange monthly inspections to make sure each van is being kept in good condition and you can even trial swapping vehicles between workers to make sure everyone finds a vehicle they’re happy with. If you’re happy with the worth ethic of your employees and they’re keeping the vans in top shape, make sure to reward them. Happy employees make a happy business.

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