The consumer products market is growing at “20% per year growth over the past five years, and is expected to grow at a 5% rate over the next five years.” (‘Business Strategy – Able Corporation’) This is mostly due to the large retailers like Wal-Mart, and Home Depot etc. Moreover even industrial and small scale businesses in the industrial sector are focusing on acquiring their products through the channels used by consumers. “Currently, 60% of all professional end users buy their professional tools in consumer channels, and this number is expected to increase over the next five years.” (‘Business Strategy – Able Corporation’)
Moreover the company should also focus on increasing its presence in the cordless power tool market. This is because as “advances in technology increase battery life, capacity and output, and decrease battery size” (‘Business Strategy – Able Corporation’), the rate of the growth in the segment pertaining to the cordless power tools also increments. This can provide the company with an option to increase its market share as well as profitability by taking on innovation.