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Handmade gifts likely were under more trees this year, group says
By Claire Cain Miller
New York Times
Published on Sunday, Dec 28, 2008
Feeling the pinch of the economic downturn, some holiday gift-givers saved money this year by making their own presents or — for those who lack the time or talent — bought handmade gifts from others.
Craft stores, from giant chains like Michaels Stores to small scrapbook supply shops, said sales were higher compared with the last holiday season, and online marketplaces for handmade goods, like Etsy, saw a boom in listings and transactions.
Sales at Scrap, a craft supply store in Portland, Ore., were up 33 percent in November compared with the year before. The shop's customers made a menorah out of yellow plastic bottle caps, Christmas tree ornaments from wood samples and calendars from fabric and paper collages, according to Sarah Dyer, the manager.
The boom in crafts and related supplies contrasts with poor results for traditional retailers, like electronics retailers and department stores. The nation's overall retail sales in November fell 7.4 percent from the year before, according to the Commerce Department.
The craft sector, which has about $5.9 billion in annual revenue, is ''operating in its own little niche,'' said George Van Horn, a senior analyst at IBISWorld, a research firm. Last year, 42 million households gave handmade gifts, according to the Craft & Hobby Association, a trade group, and that number was expected to increase greatly this year, its spokesman, Victor Domine, said.
''Across the country, people are crafting more,'' he said. ''With the recession, people are looking for ways to save money, and doctors are recommending it as a major form of stress relief.''
Elizabeth Ludington, a 25-year-old paralegal in Rochester, N.Y., works for a nonprofit legal aid group. She sewed cable-knit coffee sleeves to use instead of the cardboard ones at coffee shops. They cost her $1 each to make and an hour of her time after work while she watches TV at night.
Michaels Stores, the chain of craft retailers owned by the Blackstone Group and Bain Capital, was hoping that a holiday spike in sales would make up for weak results earlier in the year. For the quarter that ended Nov. 1, the company reported a net loss of $20 million and a decrease of 6.5 percent in same-store sales. But in November and December, Michaels' 1,014 stores had sharp increases in traffic and transactions for small-ticket craft supplies.
Hudson-based Jo-Ann Stores, the craft supply leader with a 19 percent market share, has had a similar pattern. Though same-store sales fell 1.5 percent in the quarter ending Nov. 1, sales of sewing and craft supplies, which account for half of revenue, were stable that quarter, said Lisa Greb, a Jo-Ann spokeswoman.
The cost savings for handmade gifts can be significant. At Jo-Ann, the supplies to make a child's apron and chef hat cost $7.90 for fabric designed with gingerbread men, iron-on letters to spell ''chef'' and elastic. Making a hand-knit throw costs $40 for nine skeins of yarn and $6 for knitting needles; a similar-looking item at Pottery Barn costs $129.
Feeling the pinch of the economic downturn, some holiday gift-givers saved money this year by making their own presents or — for those who lack the time or talent — bought handmade gifts from others.
Get the full article here.
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