Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Hobbycraft analyses the brand by its strengths, weaknesses, opportunities & threats. In Hobbycraft SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Hobbycraft to benchmark its business & performance as compared to the competitors. Hobbycraft is one of the leading brands in the lifestyle and retail sector.
The table below lists the Hobbycraft SWOT (Strengths, Weaknesses, Opportunities, Threats), top Hobbycraft competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
Huge range under single roof and resultant destination that competition is unable to match
People interested in buying low cost arts and crafts products
Middle class people who have interest and leisure time to buy arts and crafts products
A value for money superstore for people who likes and value arts and crafts products
SWOT Analysis of Hobbycraft
Below are the Strengths in the SWOT Analysis of Hobbycraft:
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
Here are the weaknesses in the Hobbycraft SWOT Analysis:
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
Following are the Opportunities in Hobbycraft SWOT Analysis:
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
The threats in the SWOT Analysis of Hobbycraft are as mentioned:
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
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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