rice rocket
Well-known member
- Joined
- Mar 24, 2011
- Messages
- 3,175
Very stingy on the coupons.
Their entire business model was coupons and cheap merchandise. They have neither in their new business model.
They are trying their best to sell ITC memberships in hopes of recurring yearly revenues. However, the benefits of ITC are not that compelling. After the first year, I expect that most members will not renew because they will not see the value and those recurring revenue projections will not materialize.
It is an experiment and a leap of faith. I don’t think it will work out past year one.
Good luck to them. I have no compelling reason to go there any longer.
I got it because it had a 20% coupon that was good for a toolbox a few months ago. Now that the toolbox is ordered, ohh well...
Their entire business model was coupons and cheap merchandise. They have neither in their new business model.
They are trying their best to sell ITC memberships in hopes of recurring yearly revenues. However, the benefits of ITC are not that compelling. After the first year, I expect that most members will not renew because they will not see the value and those recurring revenue projections will not materialize.
It is an experiment and a leap of faith. I don’t think it will work out past year one.
Good luck to them. I have no compelling reason to go there any longer.
Like I said, after the first year, not many will find the ITC to be valuable.
Some may renew, but some people do things that make no sense.
Anybody ever see the predator 6.5hp engines go on sale? Need to pick one up for a go kart but it's not urgent. Figured as long as I have the itc thing I might as well see if I can use it. It paid for itself on the tool boxes but I rarely but expensive stuff there
Just because it "makes no sense" to you doesn't mean it is not a good choice or financially wise for others.
The reality is that the coupon users and bargain shoppers are a minority of their business, and very likely a less-profitable one. They are likely working to keep more profitable customers while discouraging less profitable ones. Sounds like it is working ;-)
Their stores remain crowded and busy and their financials remain strong, so it seems they don't have much to worry about.
I have a hard time believing that the coupon users and bargain shoppers were/are a minority of their business.
it’s Harbor Freight, not Northern Tool. They’re known for cheap tools,
I have a hard time believing that the coupon users and bargain shoppers were/are a minority of their business.
I mean, c’mon... it’s Harbor Freight, not Northern Tool. They’re known for cheap tools, you can ask anyone who doesn’t even buy tools and they know that. Until this past year, I’ve been a frequent customer for nearly twenty years, spending quite a bit there annually. Now, without the coupons and bargains... not so much. In the last three months, I’ve spent a total of under $400.
My local Harbor Fright was always busy before Covid and now the parking lot is empty with customer cars....... Was Covid or No 20% off coupons the problem?
I feel with the number of HF new stores being added and the "power" of the internet, HF will be gone in a few more years....... Not to mention the prices have increased.
BTW! I am NOT a fan of HF and their stores smell of "Chinese Cheapness"
I am waiting on one for a tool chest..
You are entitled to your opinion, I am just sharing the facts and data.
Next time you are there, watch the checkout to see if ANYONE uses a coupon. When I go, I am usually the only one with a coupon. You can also read their reports to confirm the information I posted.
What's on everybody's shopping list for the $10 under coupon?
Might pick up a couple of magnetic strips over lunch. (I think they gave them away with a free coupon a couple years back. Oh well. lol)What's on everybody's shopping list for the $10 under coupon?
Just making up stuff without factual knowledge of corporate structure, reporting obligations, market trends and general business knowledge does not make it correct.
What's on everybody's shopping list for the $10 under coupon?
What's on everybody's shopping list for the $10 under coupon?
What's on everybody's shopping list for the $10 under coupon?
got some locking pliers which was really good... Berman or something HF house brand.
Today is the last day for the 30%
so... apparently that the 30% coupon works for the current instant saving priced @8.99
Valucan tig welding glove as well, that brings the gloves down to $6.30 +tax. Awesome price. The gloves are comparable to the TillMan. They only had the last 6 pairs.
and it have no item limitation...
Cleaned out the local HF for their tig glovesand got some Berman Clamps.