Empowering SMBs for the future: Evolving LBM retail trends
(John Maiuri is the LBMH Division President, ECI Software Solutions.)
Lumber and building materials (LBM) dealers are on the cusp of incredible change. Gone are the days when success depended solely on the charm of physical stores and the shopping experience they offered. Today, small- and mid-sized businesses (SMBs) are competing with online retailers and innovative technology that is revolutionizing the shopping experience, driven by pivotal shifts in customer behavior and market expectations.
Online/In-Store Models on the Rise
The emergence of BOPIS – Buy Online, Pick Up In Store – blends together the convenience of online browsing with the immediacy of in-store pickup, offering the best of both worlds for today's customers. Research underscores this trend, revealing a growing customer preference for online research and/or purchase.
Embracing online sales as a channel, refining digital marketing strategies and integrating BOPIS services are no longer optional but essential steps for remaining competitive and relevant in the digital age. These strategies are crucial for SMBs to meet customer preferences for convenience, speed and flexibility.
Maintain a Personal Touch in a Digital World
The industry’s digital shift allows SMBs to offer more personalized services than ever before. For example, they can use online tools to offer virtual project planning sessions, where customers can discuss their needs in real-time with experts. LBM dealers can also customize the shopping experience by using customer purchase history to recommend products, like how online bookstores suggest new titles based on past purchases. This not only makes shopping more personal but also helpful for customers.
Additionally, technology enables LBM businesses to build stronger customer relationships through regular communication that brings value. Email and social media have opened direct lines to send customers tips for construction techniques, updates on materials and special offers specific to their needs. This ongoing engagement makes customers feel valued and keeps them coming back. By integrating these digital strategies, LBM dealers can maintain their personalized service while meeting expectations of the modern customer.
Looking Ahead
The digital revolution in the LBM sector is not merely a passing trend but a significant shift. It serves as a call to action for dealers to equip themselves with the latest technological tools and adapt to the changing market, so they can deliver exceptional value to their customers. The digital world is here and for LBM dealers, there is no time like the present to start the digital journey.
