Published in Lifestyle and Retail category by MBA Skool Team
Hobbycraft is one of the leading brands in the lifestyle and retail sector. Hobbycraft SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of Hobbycraft:
Only multiple arts and crafts specialist in UK with over 70+ superstores
Vast variety of brands with good product mix
Good management and high profitability
Good online presence offering a variety of products
Continuous growth in craft markets even in tough retail trading conditions
Low prices as compared to competitors adds to brand value
Above are the strengths in the SWOT Analysis of Hobbycraft. The strengths of Hobbycraft looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Online presence not as comparable to big retailers
Not able to tap young demography since its brand recall is slightly lower than bigger brands
Failure to create a franchise model and create stores in rest parts of the world
These were the weaknesses in the Hobbycraft SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Can improve upon its distribution and sourcing activities
Expansion of it e-commerce services
Economic downturn will favor the business of Hobby craft
Expansion in continental Europe
Above we covered the opportunities in Hobbycraft SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Competitors increasing in multiple products business
Big retailers like Amazon influencing the market of hobbycraft
With improving economic conditions, people will shift to more costly premium products than buying the crafts
The threats in the SWOT Analysis of Hobbycraft are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
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
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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