Hobbycraft SWOT Analysis
Here is a detailed SWOT analysis of Hobbycraft covering strengths, weaknesses, opportunities and threats.
Hobbycraft Strengths
- 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.
Hobbycraft Weaknesses
- 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.
Hobbycraft Opportunities
- 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.
Hobbycraft Threats
- 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.
Hence this concludes the Hobbycraft SWOT analysis.
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About Hobbycraft
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Hobbycraft Overview | |
|---|---|
| Parent Company |
Bridgepoint |
| Category |
Arts and crafts store |
| Sector | |
| 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 |
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