Modernizing Craft Stores

A modernized, upscale version of traditional craft stores like Hobby Lobby, aimed at capitalizing on the growing "trad wife" movement and the enduring appeal of home decor and DIY crafting.

Key Points:

• Target Market:

  • Women interested in traditional homemaking and DIY crafts
  • Aligned with the "trad wife" movement gaining traction on social media

• Store Concept:

  • Upgrade the typical craft store experience (e.g., Hobby Lobby, Michaels)
  • Create a more aesthetically pleasing, Instagram-worthy environment
  • Maintain the treasure hunt dynamic that appeals to shoppers

• Business Model:

  • Retail sales of craft supplies, home decor, and DIY materials
  • Potential for workshops or classes to engage customers

• Opportunity:

  • Existing craft store chains are doing billions in revenue (e.g., Hobby Lobby: $7 billion/year)
  • Current stores often have outdated, cluttered appearances
  • Room for improvement in customer experience and store aesthetics

• Potential Strategies:

  • Incorporate local or pop-up elements to keep inventory fresh and exciting
  • Focus on creating a curated, boutique feel while maintaining competitive pricing
  • Leverage social media trends to inform product selection and store design

• Advantages:

  • Taps into a growing market trend (trad wife movement)
  • Improves upon an already successful business model
  • Potential to attract both traditional craft enthusiasts and younger, trend-driven customers