FOCUS TRENDS is a monthly retail strategies article on a specific retail category highlighting growth and contraction within the market. For more information, please see our WEBINARS.
Hobby & Craft: expansion and closures
The hobby and craft retail sector is dominated by Michaels, JoAnn Fabrics and Craft, and Hobby Lobby. Although Michaels and JoAnn Fabrics have historically been the largest players, Hobby Lobby has been expanding aggressively during the past few years.
The recent rise of DIY (do-it-yourself) and platforms such as Pintrest and Etsy have helped sales rise reliably for hobby and craft stores. Shoppers use Hobby Lobby and Michaels as their suppliers for their crafting activities, which they can then present on social media or sell through several online platforms.
With the focus on handmade items, it isn’t a surprise that these retailers are reliant on sales in their brick and mortar locations. Estimates are that around 95% of the sales in the hobby and craft sector are made in person.
|Retailer Name||Existing Stores 2016||New Stores||Closures 2016|
|Michaels Arts & Crafts||1076||25||13|