Gratiot True Value (Google maps photo)
Neighborhood hardware shops around America are in survival fights against giants like Loew's and Home Depot.
In Detroit, that battle is quite apparent.
In the past year, three hardware stores on Detroit's east side have folded, "reflecting increased competition from big box home improvement stores and online retailers as well as the challenge of doing business in an impoverished area still suffering from population loss and dwindling rates of homeownership," reports Chad Livengood of Crain's Detroit Business.
"A lot of the hardware stores around here have either gone or are going. Everyone goes to Home Depot," said Billy Ribiat, 47, who bought Gratiot True Value from his father 10 years ago. "They come in to buy a paint brush or get a key made, but they don't buy any big ticket items. It's been happening for years."
He'll close this coming week.
Livengood reports:
Some owners of neighborhood hardware stores say their sales growth has remained steady.
They attribute their success to reinvesting in their stores, bringing in new merchandise, providing good customer service and having items in stock that an online retailer like Amazon.com still needs a day or two to deliver to a doorstep.
