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Detroit, MI
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Aimee Canlas
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Syvetril Perryman
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Angela Bianchi
Media Relations Associate
Detroit, MI
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J.D. Power and Associates Reports:
Ace Hardware Ranks Highest in Customer Satisfaction among Home Improvement Retailers For a Second Consecutive Year
Consumer Spending on Home Improvement Increases Slightly, with a Greater Percentage
Of Customer Budgets Going to Retailers with Highly Satisfying Customer Service
WESTLAKE VILLAGE, Calif.: 29 May 2008 — For a second consecutive year, Ace Hardware ranks highest in satisfying home improvement retail store customers, according to the J.D. Power and Associates 2008 Home Improvement Retail Store StudySM released today.
The study, now in its second year, measures customer satisfaction with home improvement retail stores, based on performance in five factors: merchandise; price; sales staff; sales/promotions; and store facility.
Ace Hardware achieves a score of 791 on a 1,000-point scale and performs particularly well in the sales staff and store facility factors, which are the two most important factors driving overall customer satisfaction. Lowe’s (784) and Menards (779) follow Ace Hardware in the rankings. Lowe’s performs particularly well in merchandise, while Menards performs well in the sales/promotions and price factors.
“Ace Hardware is particularly successful in pleasing customers with their knowledgeable and helpful sales staff,” said Dale Haines, senior director of the real estate and construction practice at J.D. Power and Associates. “While offering a wide selection of merchandise and low pricing are important, customers tell us that being able to get the assistance and advice they need to complete their projects correctly the first time is what keeps them satisfied with, and loyal to, their primary home improvement retailer.”
More than one-half (61%) of customers say they asked for help from store employees on their last visit to their primary retailer.
The study finds that customers spent an average of $2,400 on home improvement during the previous 12 months—an increase of $200, compared with one year ago. In addition, customers spend approximately 72 percent of their total home improvement budget, on average, at their primary home improvement retailer. However, customers who say they are highly satisfied with their primary retailer’s sales staff spend an additional 4 percent of their budget at that retailer.
“Not only does providing great customer service benefit retailers in terms of more satisfied, loyal customers, but it also results in increased sales,” said Haines. “With consumers under increasing financial pressure due to rising prices for fuel and other necessities, it’s reasonable to assume that discretionary spending on home improvement may decrease in the near future. Retailers who are competing for that shrinking source of revenue can differentiate themselves by focusing on providing superior levels of customer service.”
The study also finds the following key patterns:- More than one-quarter of respondents report shopping at their primary home improvement retailer more than once per month. Overall, 8 percent of respondents report shopping at their primary retailer at least once per week.
- Approximately 7 percent of customers report experiencing some sort of service issue during their last store visit. The most frequently reported problems include: no members of the floor staff were available, the floor staff was not knowledgeable and merchandise was out of stock.
- Approximately 62 percent of customers report shopping at their primary retailer’s garden center; 24 percent report shopping through their primary retailer’s Web site.
The 2008 Home Improvement Retail Store Study is based on responses from 9,770 consumers who purchased a home improvement product or service within the previous 12 months from a store that sells home improvement products. Consumers were asked to evaluate their primary home improvement retailer. The study was fielded March and April 2008.
About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services firm operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The firm’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on boat ratings, car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor’s, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at http://www.mcgraw-hill.com/.
No advertising or other promotional use can be made of the information in this release without the express prior written consent of J.D. Power and Associates. www.jdpower.com/corporate
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2008 Home Improvement Retail Store Study The 2008 Home Improvement Retail Store Study measures customer satisfaction with home improvement retail stores, based on performance in five factors: merchandise; price; sales staff; sales/promotions; and store facility.  Enlarge Video Player
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