Needle and thread: External competition will hinder industry revenue growth
The Fabric, Craft and Sewing Supplies Stores industry has experienced declines over the past five years. Industry revenue is expected to decrease at a CAGR of 1.1% to $4.6 billion over the five years to 2023, including an estimated 0.9% decrease in 2023 alone. The industry has experienced relatively consistent declines for most of the current period as consumers increasingly shift to shopping at large retailers with competitive pricing. However, 2021 experienced a slight increase in revenue as the economy began to recover from the coronavirus and a continuing increase in do-it-yourself (DIY) projects. Nonetheless, the industry returned to declining trends in 2022.
Operators in this industry primarily retail sewing and craft supplies, fabrics, patterns, yarns, needlework accessories, seasonal decorations and sewing machines. Stores that sell sewing machines with other household appliances are excluded from this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Michaels Companies, Inc.
- Hobby Lobby Stores Inc.
- Jo-Ann Stores Inc.
Methodology
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