The potential business of these establishments can be assessed by estimating the number of people living in the surrounding area, their socio-demographic characteristics, their consumption capacity and the type of products they are interested in.
Measuring the potential of micro markets, based on the evaluation of a business environment and its comparison with similar sales points, is essential for designing appropriate commercial strategies or deciding where to open a new store.
Hardware store sales in Central America are projected to register a considerable drop, which would be mainly due to the expected decline in retail sales of paints.
The "Information System for the Impact Analysis of covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the impact that the crisis will have on companies according to their sector or economic activity, considering different scenarios for the coming months.
In Nicaragua, Grupo Ferromax reported that it invested $2 million in the opening of three new branches in Estelí, Chinandega and Masaya.
Managers of the business group involved in the marketing of iron and sheet for construction, reported that two of the branches are operating since last December and one is ready to open this month.
From September 20 to 22, entrepreneurs from the hardware sector from 11 countries will be meeting in Panama City to hold business conferences with the aim of forging alliances.
According to the organizers of "Expo F 2018", the event will involve traders from Argentina, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama and the Dominican Republic, who will try to create commercial alliances.
The iron and steel sector of Nicaragua has recorded a reduction of at least 50% in sales from the last two months, a situation that has forced them to reduce imports.
Entrepreneurs in the sector reported that as a result of the political crisis that has affected the country since April 18, in May and June they have seen a considerable drop in their sales, which has resulted in the interruption of their purchases abroad.
In the region there are nearly 4,000 retail points of sale of hardware products, 45% of which are concentrated in Guatemala and Costa Rica.
Analysis by the Business Intelligence Unit at CentralAmericaData yields interesting results about hardware stores function and where they are located in Central American countries.
The union of hardware stores reported a 12% increase in sales in 2016, in a sector where competition is growing with the arrival of foreign franchises and the opening of new branches.
After a very successful 2015, the hardware sector had projected sales growth of 20% in 2016, however, a slowdown in the construction of buildings suffered from midyear prevented the goal from being reached.Despite this, an overall increase of 12% was achieved due mostly to "... maintenance in businesses and homes, agreed the sources."
From 8 to April 10, suppliers of building materials and hardware will be meeting in Managua to participate in conferences and develop business partnerships.
The Association of Hardware businesses in Nicaragua (Afenic) through its president Edgard Lugo is convening Expo Ferretera 2016, to be held in Managua on the 8th, 9th and 10th of April and will feature about 85 exhibitors.
The dynamism of the construction sector is driving growth in the hardware sector which consists of about 1,000 companies that generate annual sales of between $300 and $350 million.
The strong and sustained growth of the construction sector in recent years has been the engine of the hardware store business in the country, major suppliers of materials and equipment to construction companies. Data from the Hardware Association of Nicaragua (Afenic) indicates that the the number of companies engaged in the activity amounts to 1000, which as of August reported they had 28,098 insured workers.
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Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...
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