Ace Hardware Pledges $1 Billion to Revolutionize its Retail with Experiential Stores

Ace Hardware is embracing the experiential retail trend with a significant investment in a new store concept called "Elevated Ace." The company plans to invest $1 billion over the next five years to bring this innovative approach to both new and existing locations.

Introducing the Elevated Ace Concept

The Elevated Ace concept was unveiled with a 13,000-square-foot model store at the McCormick Place Convention Center in Chicago. This new store model features showrooms, updated product selections, and outdoor areas designed for plant displays and grilling demonstrations. The official rollout will begin in the fourth quarter, with a broader launch planned for January.

A Reimagined Brand Experience

Ace Hardware is redefining its brand by focusing on core categories such as paint, power tools, backyard grilling, and home preservation. The goal is to create stores that not only highlight these key areas but also offer a unique in-person experience that can't be replicated online. This approach is part of Ace's broader strategy to engage with local communities and build lasting customer relationships.

Expansion Amid Innovation

Even as Ace Hardware introduces the Elevated Ace concept, the company is continuing its aggressive expansion. In June alone, Ace opened 111 new stores, bringing its total to over 5,000 locations across the United States. The company aims to open 200 more stores by the end of the year, contributing to its global presence of 5,800 locations in 60 countries.

Experiential Retail: A Growing Trend

Ace Hardware is not alone in exploring experiential retail. Other retailers, like Dick's Sporting Goods, are also experimenting with similar models. Dick's introduced the "House of Sport," which features not only traditional merchandise but also interactive elements like batting cages, golf simulators, and rock walls. The company plans to open 75 to 100 of these stores by 2027, highlighting the growing trend of retailers seeking to enhance the customer experience in physical stores.