Dallas, TX, October 6 - Creative Sales Consulting, LLC and Experts In How, LLC have announced the formation of a strategic partnership to advise retail vendors on strategies to identify opportunities and navigate challenges to increase sales in the Consumer Packaged Goods retail market and to create sustainable profitable growth in a difficult retail environment. The executive teams of Creative Sales Consulting and Experts In How have specialized knowledge and experience in the Arts and Crafts, Hobby, and Home Decor channels, and are now applying that experience across multiple retail channels.
According to the Arts and Crafts Market 2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023 from IndustryResearch.com, “Overall, the arts and crafts industry continues to trend positively, as consumers continue to seek out do-it-yourself (“DIY”) home projects. In general, it seems consumers have an ongoing interest in crafting. However, the industry remains very competitive, with traditional brick-and-mortar arts and crafts stores facing competition from big box retailers such as Wal-Mart and Target, as well as online players such as etsy.com. The increased competition has caused many retailers to increase promotional activity to drive sales. While lower price points remain important for many consumers, many retailers have been recently focused on improving gross margin, and have been more strategic with the type and level of discounts offered. In 2017, the global Arts and Crafts market size was $38.4 billion USD and is forecast to $52.1 billion USD in 2025, growing at a CAGR of 4.6%.”
Clint O’Rear, President of Creative Sales Consulting, affirmed “There are a lot of challenges in the retail market today, and that’s why Creative Sales Consulting and Experts In How are aligning to help vendors develop strategies to navigate those challenges to allow continued profitable sales growth. And, as we help vendors align their strategies for growth, we thereby help the retailers that we support grow their sales. Our goal is to turn challenge into opportunity.”
Key facts about the Arts and Crafts Industry:
- Total spending in the Global Arts and Crafts segment are expected to reach $52 Billion USD by 2025
- Michaels Stores Inc., Jo-Ann Stores Inc. and Hobby Lobby Stores Inc. hold the largest market share in the US
- Etsy’s annual marketplace revenue worldwide $179.5m USD
- Number of Etsy sellers worldwide is 2.1M
- Monthly spend of 18-34 year old segment on craft and hobby items is $68.68 USD
- Share of total US arts & crafts spend on painting and drawing supplies 16.9%
Charlie Leichtweis, Managing Director of Experts In HOW, acknowledges the existence of challenges in keeping up with consumer trends and reaching consumers in a profitable way. Even in the face of those challenges there is significant opportunity for suppliers with best in class product development and supply chain processes.
“The challenges in the retail landscape are growing: channel migration, retail direct sourcing, shifting consumer tastes, import economics, long lead time supply chains, and many others. The vendors who continue to develop product informed by consumer insights, partner with retailers on inventory management, and effectively align their supply chain with their product development processes will continue to win and drive sustainable profitable growth.”
About Creative Sales Consulting (CSC)
Creative Sales Consulting has partnered with retail vendors by providing account management services to targeted large retailers for more than 30 years (previously as Randy Putnam & Associates). Under the leadership of Clint O’Rear Creative Sales Consulting utilizes key account teams to grow relationships and identify opportunities in the retail market. CSC helps companies in the areas of product ideation, go to market strategies, product presentation reviews, retail data analytics, negotiation, issue resolution, and overall relationship management with large retailers.
About Experts In How (EIH)
Experts In How, LLC brings together over 50 years of combined experience of Charlie and Stephanie Leichtweis, who have served in multiple C-suite positions with very successful companies, including multiple CEO roles for each of them at companies such as The Testor Corporation, Coats & Clark, and Fiber Craft. Charlie and Stephanie are able to help companies in the areas of strategy development and execution, alignment of strategy with process, global sourcing and operations, and business transformation. They specialize in helping companies with the HOW to create sustainable profitable growth.