Departmental Stores Sell More Domestic Hardware

Press, Volume XCIII, Issue 27988, 7 June 1956, Page 17

Departmental Stores Sell More Domestic Hardware

“The present picture suggests that more and more of the domestic hardware trade will be done by the departmentals which have organised to handle this trade on fast-selling, bulkbuying. low-priced lines, and who back up their buying and display by increasingly powerful promotion and publicity.” This comment is made in an article on retail trends in Britain published in the British trade publication, “Hardware Retailers.” The same trend exists in New Zealand, .according to the “New Zealand Hardware Journal. ’ “Hardware merchandising in Great Britain has become more competitive in the post-war period with three distinct types of outlets fighting for business.” says the article. “Home furnishing and hardware retail departments have been extended in the big stores and many of these now do excellent business on open-access lines; there are specialist hardware firms which concentrate on one or several specialist spheres such as combustion equipment and grates, tools and cutlery, or domestic appliances; and the traditional ironmongers covering the entire field. “The ironmongers especiallv have resented the growing competition of the departmentals in the hardware field and have reacted by immense improvements in their own Organisation and promotion. The specialists are concerned to keep to their own fields

and can normally maintain a hold of that field by virtue of stock coverage. Main interest lies in the efforts of the departmentals to create attractive stores handling a very full range of household goods. The Mass Market “It is undoubtedly true that these stores—unlike the traditional ironmonger—are concerned to handle only these lines which sell fast; they are not concerned to carry stock of a slower nature, however important. They are selling to the mass market and consequently .select lines which meet the needs and pockets of the mass of shoppers, as distinct from the specialist. These stores would rather lose business than stock up on a slow seller.”

NATIONAL BANK’S HIGH PROFIT

(N.Z. Press Association—Copyright) LONDON. June 5.

The National Bank of New Zealand, Ltd., reports a net profit for the year ended March 31, of £277,447, against £265.430 last year.

A final dividend of 6 - z 'r cent, is recommended, making a total of 10 per cent, (unchanged) for the year. The profit left to be carried forward is £227,497.