Retail Success Story: Sherwin-Williams
This is part of our Retail Success Stories series. See all the posts in our series here: https://www.marketsupport.ca/category/retail-success-stories/ .
Sherwin-Williams has a seemingly simple product line: paint, stains, and painting supplies for professionals and homeowners. Yet that simplicity has led to substantial rewards: in 2019, Sherwin-Williams’s stock rose by about 40%.
This ongoing success makes Sherwin-Williams our latest retail success story. Read on to discover how they have built a thriving business.
Simple Concept, Many Options
While Sherwin-Williams is primarily a paint manufacturer and retailer, within that category they carry a lot of options for consumers. They offer more than 1,500 paints and stains to choose from in bold colours that stand out from the competition.
Some of their products also work for both the interior and exterior of a home, providing even more versatility. They also have frequent coupons, sales, and discounts available for shoppers, and loyalty program for homeowners and professionals.
Expansion in the Works
Sherwin-Williams added 31 net new stores in the first nine months of 2019. Plans are in place for even more retail stores across North America. The growing expansion focuses on the end market — the homeowner — appealing to DIY home renovators and beyond.
They recently announced plans to open a new research and development facility and head office in the U.S.
In 2017, Sherwin-Williams acquired Valspar, and with it grew to about 60,000 employees across North America. They cross-train associates to learn more about the business and to be versatile in their roles.
Emphasis on Community
Many retail success stories focus on community, and Sherwin-Williams sets a good example.
They recently opened a new store in Bradford, where at the launch they invited local firefighters to come and host a charity barbecue for a 14-year-old struggling with a rare kidney disease.
They also have a philanthropic foundation, which supports “non-profit organizations that deliver innovative solutions in the areas of children’s health and education, and education for economic self-sufficiency for at-risk populations.”
Optimized Supply Chain
While Sherwin-Williams’s efforts on the customer-facing front are impressive, we have to also pay attention to what is happening behind-the-scenes: digital transformation.
At the supply end, Sherwin Williams is employing cost controls, supply chain optimization, and productivity improvement. This has allowed them to lower operating costs, which in turn provides benefits to the customer by keeping prices affordable.
The customer experiences and end-users are important, but if the supply chain and production processes are underperforming, that is much more difficult to perfect.
They have also committed to sustainability. In the U.S., several site locations earned zero-waste designations by making changes as small as switching to LED lights.
Innovative Online Presence
Beyond the in-store offerings, Sherwin-Williams also has a robust website. Online, users can use innovative tools that let them view colours on walls, find complementing shades, and get inspiration.
The mobile app allows consumers to try out colours on the go, too.
They were also one of the first to embrace augmented reality (AR). Their Colour Visualizer lets users see what the shade will look like on their own walls.
Transformation Meets Results
Sherwin-Williams consistent approach to continuous improvement and digital transformation shows how a simple concept that is well-executed can make a big splash.
This is why they are our latest retail success story. We look forward to seeing what comes next!
Storesupport Canada helps retailers and manufacturers create their own success stories. Through innovative in-store and e-commerce solutions, we can optimize the customer service, ensure inventory is kept in stock, and support your brand at retail and beyond.
Learn more about our services. Call 1-877-421-5081 or visit www.storesupport.ca.
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