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Adding an online channel is one of the efficient ways to increase sales and expand the business. Some companies would benefit from adding an online channel more than others since it depends on the product they are selling. For some businesses, it is more convenient to work offline; however, they still may gain some advantages from online retailing. I think that the sale of home improvement products last Home Depot will extract the greater benefit from adding the online channel in comparison with a chain of hardware stores such as True Value, and there are several reasons for that.
The primary reason is related to the type of products the stores are selling. An important aspect of the success of the online channel is a good-looking interface and/or online advertisement. In my opinion, it is easier to come up with a presentable appearance for different home improvement products such as, for example, different organizers or LED lights. The catchy designs may hook the attention of the consumers, which is vital in internet sales. Hardware, on the contrary, emphasizes some specific characteristics, not appearance. People desire to have a full understanding of the hardware structure and quality. That is why they might like to have a look at it in a real physical store.
The next reason is the stores’ target audience and clients of the omnichannel. The target audience of the hardware stores should be more narrow and specific compared to the home improvement store. That is because buying hardware may require some specific knowledge. That means that it will decrease the number of online buyers. I think that purchasing home improvement products requires less responsibility, so there will be more online purchases in this case.
In conclusion, setting up an online channel requires analyzing the type of product that a specific store is selling and the assessment of the target audience. Due to the particular characteristics of the product types and possible target audience of the two stores, I think adding the online channel is more applicable for the sale of home improvement products. The hardware store might benefit as well but not as much as the Home Depot.
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