Craftnomics: Crafts and the economy

Miss A — Wed, 25 Mar 2009 16:42:53 +0000

As the economy continues in a tale spin and people lose their jobs, more people are looking for ways to tighten their belts. Like myself, crafters and artists are not only looking for belt tightening remedies, but also exploring ways to turn a hobby into an income stream.

The emergence of such sites as Esty.com, madeitmyself.com and foodzie.com is an indication that the American public is receptive to handcrafted items and we simply need to properly market our items.We must make sure that we are not only marketing to ourselves, but reaching out to those who desire handcrafted items but do not have the time or skill set to create their own items.

I’ve divided the individuals into four groups:

1. No interest in crafts or tightening their belts

2. Hobby as income stream-turn a hobby into part or full-time income steam

3. Hobby as belt tightening tool-Begun to rework old clothes into new and sewing clothing and other items for their families. Making holiday and birthday and special occasions gifts instead of buying from the large retailer.

4.Non crafters- purchasing handcrafted items as part of belt tightening strategy.

Group four appears to be the group with the most potential in the current economy. Use the economy as a sales tool. i.e Purchasing directly from the artists is a way to cut out the middle man so that the creator fully benefits financially. This is a great way to promote “Made in America” and stimulate the economy.

What impact is the economy having on your craft business?

CHESTNUT ALLEY CREATIONS » Craftonomics

Craftnomics: Crafts and the economy