(Elmwood Park, NJ, May 2015)—A benchmarking study on the business practices of private store front and home-based businesses that sell crafts directly to the public, was recently released by Craft & Hobby Association (CHA). The purpose of the study was to explore best practices that make an independent craft retailer successful and to share the data with CHA members and industry suppliers.
Business practices that were common among the top 15% of the independent retailers were:
· 86% were store front businesses
· 46% were paper related businesses
· 47% had a strong customer database and did outbound marketing
· More than half use social media to market their business; with Facebook as the most active
· More than half invested time in continuing education and professional development
“Providing the tools, resources and information for independent retailers to grow and thrive is a strong mission of CHA. This study is a barometer of the current landscape and gives CHA intelligence for developing future educational programs that will increase traffic and conversion rates for all independent retailers,” said Andrej Suskavcevic, President & CEO of CHA.
The benchmarking survey also included questions on: sales, revenue, size of store, rent, inventory levels, staffing, educational offerings, and average customers base.
Results of the benchmarking survey were first presented at the CHA MEGA Show in Anaheim, CA. The findings were part of an educational program that included hands-on workshops, demonstrations and tactical information from experts and business partners for immediate business improvements. The annual CHA MEGA Show also features an exhibit floor brimming with new products, innovations and networking opportunities for craft professionals from more than 55 countries.
CHA is the largest B2B craft and creative trade organization in the world and offers year-round education, face-to-face meetings, research and tools to enhance members’ professional development and business success. For membership and more information on CHA programs go to www.craftandhobby.org.