Ace Hardware announced it’s acquisition of The Grommet this week. Ace Hardware and The Grommet first began working together in 2016 as part of a collaboration to bring new, unique and otherwise undiscovered products from independent entrepreneurs, also known as Makers, into select Ace stores. Successful products shared via The Grommet include FitBit, OtterBox and SodaStream. Both companies will have equity in The Grommet, with Ace having majority ownership.
“Ace’s expansive supply chain and network of 5,034 stores coupled with The Grommet’s innovative product discovery platform combine to give dreamers, inventors, innovators and Makers a sustainable, high quality path to meaningful growth, without having to bow down to the altar of Amazon,” Ace CEO, John Venhuizen, said.
Ace store analytics show the value in this partnership of brick and mortar stores with the digital platform. Current customers of The Grommet visit Ace stores over 50% more times more than the average Ace rewards customer, and spend 2.8 times as much in purchases at the stores.
Accelerated Analytics can provide vendors with item and store retail analytics for Ace Westlake and Ace Corporate stores. Contact us to learn more.
Sources: Chain Store Age, Chicago Sun Times, Ace Hardware
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