Hobbycraft SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 1402
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SWOT Analysis of Hobbycraft with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Hobbycraft

Parent Company

Bridgepoint

Category

Arts and crafts store

Sector

Retail stores

Tagline/ Slogan

Let’s get making

USP

Huge range under single roof and resultant destination that competition is unable to match

STP

Segment

People interested in buying low cost arts and crafts products

Target Group

Middle class people who have interest and leisure time to buy arts and crafts products

Positioning

A value for money superstore for people who likes and value arts and crafts products

SWOT Analysis

Strengths

1.  Only multiple arts and crafts specialist in UK with over 70+ superstores
2.  Vast variety of brands with good product mix
3.  Good management and high profitability
4.  Good online presence offering a variety of products

5.  Continuous growth in craft markets even in tough retail trading conditions

6. Low prices as compared to competitors adds to brand value

Weaknesses

1. Online presence not as comparable to big retailers

2.  Not able to tap young demography since its brand recall is slightly lower than bigger brands
3. Failure to create a franchise model and create stores in rest parts of the world

Opportunities

1. Can improve upon its distribution and sourcing activities
2. Expansion of it e-commerce services
3. Economic downturn will favor the business of Hobby craft

4. Expansion in continental Europe

Threats

1. Competitors increasing in multiple products business
2. Big retailers like Amazon influencing the market of hobbycraft
3. With improving economic conditions, people will shift to more costly premium products than buying the crafts

Competition

Competitors

1.  Argos
2. WH Smith
3. The works

 


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