Entrepreneur magazine has published its list of the top 500 franchises worldwide, and Ace Hardware ranked fifth. Industry analysts will always question the methodology behind such lists, but in its write-up on Ace, the magazine dropped a hint as to why it feels Ace is so successful.
According to Entrepreneur, it centres around the $23 million increase in digital ad spending by Ace in 2023 which led to “a 17 percent bump in digital business.” Ninety percent of digital orders at Ace are picked up from local stores, driven by Ace’s “hyperlocal” marketing. Ace likes hyperlocal marketing (digital marketing that pops up on customers’ phones prompting them to visit local businesses) so much that it will increase digital spending by a further $25 million this year, Entrepreneur says.
