Tape measures, screwdrivers, wrenches, sockets, and hammers—these hand tools and accessories commonly fill even a novice tool owner’s toolbox. The average shopper will eventually need to pick up a hand tool or two, whether from a brand with cultural cachet or a hardware store’s in-house selection.
From Craftsman to Stanley to DeWalt, some buyers have their preferences and always buy a specific brand. However, when you take a deep look at the hand tools & accessories market, certain tool brands continually retain their top spots. Craftsman happens to be the top-spot holder at the end of Q1 2021, but how is everyone else stacking up? Let’s take a closer look.
A Look at the Leading Brands in Hand Tools & Accessories
Craftsman has held the highest unit share in the hand tool market since 2014. Between the R4Q end in March of 2020 and the R4Q end in March of 2021, the brand saw significant decreases in both dollar and unit share. Despite other brands like DeWalt seeing increases to unit and/or dollar share, Craftsman still holds steady at the top for unit share, and comes in second behind Stanley for dollar share.
What Drives Purchase in the Hand Tools & Accessories Market?
Most consumers were buying a hand tool to replace a lost tool or a tool that didn’t work. More people who purchased a hand tool for the first time actually went with Husky (20 percent). Surprisingly, only 13 percent of first-time tool purchases were Craftsman brand, but 42 percent of those buying a replacement selected the brand.
How Many Brands Are Considered Before Making a Purchase?
The bulk of shoppers appeared to know which brand they wanted before making a purchase. An impressive 82 percent shopped for only one brand before making a buying decision. Surprisingly, 91 percent of shoppers who bought a store brand considered only one brand as well, compared to 80 percent of those who bought Craftsman.
Where Are People Buying Their Hand Tools?
The hand tools & accessory market analysis showed that 80 percent of buyers picked up hand tools in a retail store, while only 17 percent bought hand tools online. DeWalt was the top hand tool brand purchased online.
- Preferred retail outlet among all buyers – Home Depot
- Preferred online retailer for hand tools – Amazon
- Why buy a hand tool from a certain retailer – Competitive price
Hand Tools & Accessories Market Analysis by Region
Craftsman may be the industry leader in hand tools on a national level, holding 14 percent of the market, but the brand was also a top choice regardless of what region we examined. Craftsman hand tools were preferred across the board, including in the West, Midwest, South, and Northeast. Stanley was the only major competitor, holding 10 percent of the market nationwide, and only second place by between 2 and 4 percentage points in each region.
Get a Closer Look at the Hand Tools & Accessory Market
Some brands have become so synonymous with their markets that they stick around as key players for decades: Craftsman holds such a role in the hand tools and accessories market. Other names like Husky, Stanley, DeWalt, and Kobalt do give Craftsman a run for their money in some respects, however. Want a closer look at hand tools and consumer buying behaviors? You can get a sneak preview with our infographic. Otherwise, you can contact us to learn how to get the full TraQline report for an in-depth market analysis.