The co-op that empowers
The strength of an iconic brand comes from how well it serves its customers. True Value® has worked hard, right alongside do-it-yourselfers and contractors from the beginning−supporting our neighbors and offering expert advice. When customers think of True Value they think of a solid company with quality brand name and comparable private label products chosen to get the job done quickly and efficiently. When you join our co-op family you are empowered by scores of people—from our field staff to the associates at our Retail Support Center, Retail Distribution Centers and paint manufacturing plant.
We’re driving change at True Value to center everything we do on helping our retailers, affiliates and supply partners connect to more customers and become more relevant in their lives. A key part of that effort is a new brand strategy that focuses on the emotional side of what we do to empower our customers−enabling the satisfaction of a job well done. This focus on satisfaction sets us apart from others in our category that emphasize products and helpful attributes. This new branding approach is designed to connect True Value to a new generation of hardware customers.
Our new customer
While our competitors continue to target their existing customer, we’ve developed a futuristic brand strategy to reach a new generation. Connecting with a younger customer is essential for your growth. Because many Millennial consumers (ages 25-34) are purchasing their first homes and starting families, there is tremendous business opportunity for True Value. Our brand position appeals to them by aligning with their goals and aspirations. We call these active hands-on young people “Achievers.” To truly understand what motivates them, take a look at these facts. These customers:
- Believe their home is an expression of who they are*
- Enjoy showing off their home*
- Are influential in their social circle*
- 60% of likely first-time buyers are under 35**
- 40% of those under 35 are somewhat or very likely to buy their first home in the next year**
- Are less likely to own tools; in fact they represent more than 1/3 of those buying tools**
In addition, the 25-34-year-old Achiever spends more in the home improvement category per year; $1,695 vs. $1,481 spent by those 45-54 years old.**
Reaching our new customer
We reach the Achievers where they live—through social media, including Facebook®, Twitter®, YouTube® and Pinterest®; blogs and the Internet. Studies show that 90% of Achievers reported the highest usage of the Internet to get information about home improvement projects and products.*** Our three websites: TrueValue.com, TrueValueProjects.com and TrueValuePaint.com are geared toward this new customer, who looks for easy-to-access information. Achievers are increasingly using their smartphones and tablets to access home improvement information and products. When customers visit TrueValue.com on their smartphones, they have access to all of our sites in a mobile-optimized format.
* Source, MRI.
**Source:MRI, National Association of Retailers.
***Source: Consumer Pulse Study, Q3/Q4, 2013.