The online hardware market saw strong growth in 2024, with Magico reporting an average uplift of 31% among their hardware retailers compared to 2023. As we look to 2025, here are three key strategies to drive growth both online and in-store.
Know Your Data
Data is an extremely valuable and cost-effective resource. Use it to understand the market, monitor goals and crucially identify changes in customer behaviour.
- Compare revenue figures on a weekly, monthly and annual basis to identify trends and track goals
- Know where your revenue is coming from. What are your Top Products, Brands and Categories?
- Examine top-viewed products that aren’t added to carts or frequently abandoned at checkout. Investigate if pricing, availability, or insufficient product information might be barriers to conversion.
Understand Your Customer
To grow, you need to know who your customers are and what motivates them.
- Understand what channels are driving growth, is it organic, paid media, email, search and /or social. Tailor your communications and messaging to connect with the right customers on the right channel.
- Don’t be afraid to engage with organic social media. Create content that connects with your audience and highlight your expertise.
Integrate Online and In-Store Experiences
Successful retailers think beyond “online vs. physical” and embrace a unified approach.
- Highlight your Click and Collect service to drive online and instore sales
- Use QR codes in-store to direct customers to online information rich product details or videos.
- Drive online customers to your store by showcasing services including colour consultations or expert advice. Engaging content and clear calls to action can encourage instore visits.
You need to know your customer both instore and online and be prepared to continuously adapt and always deliver an experience that keeps them coming back for more. Talk to one of Magico’s eCommerce experts today and organise a free consultation.
For more information visit www.magico.com or contact ocooney@magico.com
