What are the best brands and outlets in U.S. Hand Tools & Accessories share? – An infographic

TraQline answers the “who”, “what”, “where”, “when”, “why”, and “how” for Hand Tools market share. Our quarterly survey will help you understand who’s buying, where they’re buying it, and what drives their decisions. Our infographic will help you answer the following questions about the Total Hand Tools market and how it is changing…

Who leads sales in the U.S.?

Our infographic will give you greater details, but for now, here’s what you need to know about the market leaders in Hand Tools & Accessories for 4Q Ending Mar 2022:

• The Hand Tools & Accessories category is an aggregate of various tools.  4Q ending Mar 2022 Hand Tool purchases consist mainly of tape measure (24.6%), screwdriver sets (11.9%), hammer (8.7%), individual screwdriver (7.7%), wrench sets (7.6%), and individual pliers (5.5%) for a total of 66% of category sales.
• For brands, Craftsman continues to lead all other brands for 4Q Ending Mar 2022 (13.7%).  However, Craftsman had dropped steadily the past 7 years.  Stanley shows the next highest brand share (9.9%) but is down significantly from this time last year.
• Home Depot continues to be the outlet lead for 4Q Ending Mar 2022 (21%) and is the consistent leader since 2015.  Lowe’s is second with 17% share.

How much do consumers spend on Hand Tools & Accessories?

When buying a product in the Hand Tools & Accessories aggregate, the 4Q ending Mar 2022 industry average price paid is $29.  However, the average amount spent at different retailers can vary slightly. For example:

• The big-box stores – Home Depot/Lowe’s/Walmart make up about 54% of purchases.  
  • Home Depot and Lowe’s average price paid is slightly higher than the $29 industry average ($33 and $31 respectively).  
• The average price paid at Walmart ($20) is well below the industry average.

What demographics are buying Hand Tools & Accessories?

Just who buys Hand Tools & Accessories? TraQline’s census-balanced respondent pool has given us insights like:

• In 4Q ending Mar 2022, not surprisingly, 62% of Hand Tool purchasers are homeowners.  Those purchasing at Lowe’s have the highest percent of homeownership (72%).  Walmart purchasers show the lowest percent of homeownership (48%).
• The Hand Tool & Accessories purchase decision is typically made by males only (57%) – down about a point from this time last year.  35% of purchase decisions are made by females only. 8% of purchase decisions are made by males and females involved in the decision.  The percentage of females only decision makers has increased significantly for each of the past 3 years.
• In 4Q ending Mar 2022 almost 3/4 of overall purchasers have a household income of less than $100,00 (73%); with about 84% of Walmart purchasers at under $100,000 household income.  61% of Walmart purchasers have a household income under $50,000 – significantly different than the industry average of 43%.

Brick & Mortar Vs. Online Sales Trends:

Brick & Mortar remains the most popular sales channel (82%).  Here are some of the trends that TraQline has uncovered:

• After a significant decrease in brick & mortar share in 4Q ending Mar 2020 and 2021, obviously due to pandemic concerns, 4Q ending Mar 2022 share is up significantly from this time last year.

Hand Tool & Accessories Market Share Facts – Rolling 4Q Ending March 2021:

Curious about other information TraQline’s survey has uncovered?  Here’s a preview for you:

• As seen in previous years, “Competitive price” remains the top reason for retailer purchase in 4Q ending 2022.  However, that reason for purchase has steadily declined the past 5 years – down to 47% in 4Q ending Mar 2022.
• Meanwhile, “Good selection of products” continues to increase as a reason for retailer purchase over the past 5 years – up to 31% for 4Q ending Mar 2022.
• For 4Q ending 2022, Home Depot leads other retailers in outlet draw (29%).  Amazon leads all other major retailers for outlet close (76%).
• In 4Q ending Mar 2022, 69% of those purchasing at Home Depot or Lowe’s only shopped one outlet – about 3 points lower than the 72% industry average.  Home Depot and Lowe’s (24% each) are both significantly higher than industry average (20%) for shopped two outlets.