True Value Company Introduces New Retail Paint Strategy
Friday, April 11, 2008
Co-op expands retailers’ color palettes to attract, inspire customers
CHICAGO, March 14, 2008 — As today’s consumers adjust their spending habits, many are delaying major re-models and instead are investing in small projects to brighten up the home, like painting. True Value Company, partnering with the Dutch Boy® and Pratt & Lambert® paints, launched a new retail paint strategy designed to exceed customers’ expectations by delivering a wide selection of quality paint from top national brands.
Brand does make a difference to 75 percent of paint consumers, based on True Value’s research. Consumers prefer well-known paint brands that are familiar to them, like national brands Dutch Boy® and Pratt & Lambert®. Along with brand-name paints, Dutch Boy® and Pratt & Lambert® will also provide True Value retailers with complimentary paint business analyses. Specifically customized to meet local market needs, these analyses advise True Value retailers on the price points and product mix that best suit their store and the clientele it serves.
At the core of the new retail paint strategy is True Value’s Color Center, a specially designed paint display that showcases color selections for national brands and for True Value-manufactured brands such as EasyCare® and Weatherall®. The Color Center, part of the hardware cooperative’s Destination True Value retail format, serves as a paint inspiration center.
“True Value will become the ‘paint destination’ that DIY enthusiasts want to shop,” said Carol Wentworth, vice president of marketing. “Most consumers cite selecting color as the most challenging part of a paint project and the new Color Centers help make that process easier and more enjoyable. From helping customers choose the perfect color to ensuring they get the right tools for the project, our strategy combines True Value’s expert, local advice with paint brands that customers want.”
To meet market needs, True Value offers its retailers two Color Center size options, an 8-foot center or 12-foot center that includes stripe cards, idea cards and trend cards. More than 600 True Value retailers already feature the Color Center in their stores, and that number is estimated to grow to 1,000 retailers by mid-summer of 2008.
True Value Company, headquartered in Chicago, is one of the world’s largest retailer-owned wholesale hardware cooperatives with sales of $2.0 billion in 2007. The True Value cooperative includes approximately 5,600 independent retailer locations worldwide operating under the store identities of True Value, Grand Rental Station, Taylor Rental, Party Central, Home & Garden Showplace and Induserve Supply.
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