Hobbycraft SWOT Analysis, Competitors & USP

Hobbycraft SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Hobbycraft, 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, and make strategic improvements. Hobbycraft is one of the leading brands in the lifestyle and retail sector.

The article below lists the Hobbycraft SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Hobbycraft SWOT Analysis:

SWOT Analysis of Hobbycraft

For Hobbycraft, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.

Hobbycraft Strengths

The strengths of Hobbycraft looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. 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

Hobbycraft Weaknesses

The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. 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

Hobbycraft Opportunities

The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. 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

Hobbycraft Threats

The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. 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

Hobbycraft Competitors

There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Hobbycraft:

1.  Argos
2. WH Smith
3. The works

Hence this concludes the Hobbycraft SWOT analysis.

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About Hobbycraft

Hobbycraft Overview
Parent Company	Bridgepoint
Category	Arts and crafts store
Sector	Lifestyle and Retail
Tagline/ Slogan	Let’s get making
USP	Huge range under single roof and resultant destination that competition is unable to match
Hobbycraft STP
Segmentation	People interested in buying low cost arts and crafts products
Target Market	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

 

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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