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TNNA Releases 2016 US Participation and Spending in Needle Arts

Posted By India Hart Wood, Hart Business Research, Wednesday, September 14, 2016

 

TNNA Survey

August 2016 research sponsored by TNNA, part of the TNNA State of Specialty NeedleArts Study 2016, indicates 23% of U.S. adults did at least one needle art in the past year: knitting, crocheting, weaving, spinning, cross-stitching, needlepoint, or hand embroidery. Most do two needle arts. Participation is relatively higher among females, ages 18-34, nonwhites, households with lower incomes and more people, households with children, and those without a college degree. They  spend $2 to $3 billion a year on needle arts supplies.


In August 2016 TNNA placed three questions on ORC International’s national general population Online Caravan Omnibus survey to determine national participation rates, spending, and shopping habits in each needle art. (This is a separate from the surveys of needle arts enthusiasts in February 2016.) TNNA members can dive deep into needle arts participant demographics, spending, cross-participation, retail channels, and more. Download the Excel file for U.S. Needle Arts Participation Survey Results.

According to the participation survey, needle arts participants spent an average of $60 each on supplies in the past year. Those who spent more were older adults (age 65+), residents of the U.S. Northeast, from higher income households, those with children, and college graduates. These findings are consistent with the typical profile of needle arts enthusiasts (versus participants); most enthusiasts spend more than $200 a year on supplies.

Needle arts participants shop at a range of retail types. 25% shopped online for needle arts supplies. Nearly all shopped in-store, at craft or hobby chains (62%), mass merchandisers (42%), or local independent yarn, stitching, or crafts shops (22%). In contrast, enthusiast needle artists are most likely to shop at specialty needle arts stores, either online or locally.

Percentage of U.S. adults participating in each needle art:

Needle art

Participation

Crocheting

10%

Knitting

9%

Weaving

3%

Spinning yarn

2%

Cross-stitch

7%

Hand embroidery

5%

Needlepoint (on painted canvas, not plastic)

4%

Any needle art

23%


Data is from three questions on the ORC International Online Caravan Omnibus Survey of a demographically representative sample of U.S. adult volunteer survey takers. The participation rate for the needle arts (23%) is about two times that reported by the 2012 U.S. Census Survey of Public Participation in the Arts, a more reliable survey where 3/4 of randomly-selected (not volunteer) households responded. Therefore participation rates may be half of what is reported above. The lower rate is more consistent with data from the U.S. International Trade Commission and specialty needle arts retailers. The TNNA U.S. Needle Arts Participation Survey data on participant spending, shopping habits, and demographics are reliable.

The TNNA State of Specialty NeedleArts 2016 Study is independently produced by Hart Business Research and sponsored by TNNA. TNNA members may access the complete study, including the results of seven enthusiast needle arts surveys, at http://www.tnna.org/?Survey2016.

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TNNA Survey Says: How Is Your Counted Thread Store Doing?

Posted By India Hart Wood, Hart Business Research, Friday, September 9, 2016

TNNA Survey Says is a biweekly series of articles featuring useful business advice based upon the TNNA State of Specialty NeedleArts 2016 surveys of more than 15,000 fiber artists, retailers, and wholesalers.

TNNA Survey

Financial Benchmarks for Counted Thread Retailers

Wise people go to the doctor for a checkup every so often. Wise business owners check the health of their business compared with benchmarks for the industry. Use the following table to understand how your retail counted thread businesses is doing compared with others. Counted thread stores in 2015 typically had sales of $92,000, inventory valued at $60,500, a sales floor of 950 square feet, and sales per square foot of $84. Half grew and half were profitable. How did your business do?

If you’re doing better than most, pat yourself on the back and keep up the success. If you are not doing as well as most and would like to have an income from your business, kick yourself into making some changes. Look at the other TNNA Survey Says blog posts for ideas about store features, marketing, product trends and selection, and adding more value to your business.

Summary of financial data for counted thread retailers:

Benchmark

Counted thread retailers*, 2015

Gross annual sales

Median (typical store) $92,000
15% more than $200,000
30% $50,000 or less

Sales growth

54% increased
12% no change
35% decreased

Profitable

52% yes
48% no

Profit margin
= profit divided by gross sales

12% average

 

Owner income from store
(salary, distribution, or dividend)

52% yes
48% no

Spending with suppliers per year

$39,000 median

Inventory value
(12-month average, at cost)

$60,500 median

Inventory turn
= sales/(inventory value x markup)

0.74

Retail sales floor size

950 square feet, median

Sales per square foot

$84 median
(in-store sales only)


Data from multiple questions on TNNA 2016 Needle Arts Retailer Survey. Much more detail is available in the Counted Thread Retailer Survey Results Report.


*27 counted thread retailers responded to the survey, which is not enough for a statistically reliable sample, but this data is still useful to understand about how your store is doing. Counted thread retailer benchmark data did not change markedly since 2009 and 2012 and it was similar to that of yarn retailers, indicating the data is reliable.

  • Source: TNNA 2016 Counted Thread Retailer Survey Results
  • Freshness: Retailers surveyed February 23 to March 28, 2016.
  • Respondents: 325 yarn retailers, 41 needlepoint retailers, and 27 counted thread retailers

More information: http://www.tnna.org/?Survey2016

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TNNA Survey Says: Financial Benchmarks for Yarn Retailers

Posted By India Hart Wood, Hart Business Research, Tuesday, August 30, 2016

TNNA Survey Says is a biweekly series of articles featuring useful business advice based upon the TNNA State of Specialty NeedleArts 2016 surveys of more than 15,000 fiber artists, retailers, and wholesalers.

TNNA Survey

Financial Benchmarks for Yarn Retailers

Wise people go to the doctor for a checkup every so often. Wise business owners check the health of their business compared with benchmarks for the industry. Use the following table to understand how your retail yarn businesses is doing compared with others. Yarn stores in 2015 typically had sales of $125,000, inventory valued at $75,000, a sales floor of 1,025 square feet, and sales per square foot of $95. Half grew and half were profitable. How did your business do?

If you’re doing better than most, pat yourself on the back and keep up the success. If you are not doing as well as most and would like to have an income from your business, kick yourself into making some changes. Look at the other TNNA Survey Says blog posts for ideas about store features, marketing, product trends and selection, and adding more value to your business.

Summary of financial data for yarn retailers:

Benchmark

Yarn retailers, 2015

Gross annual sales

Median (typical store) $125,000
29% more than $200,000
25% $50,000 or less
Range: $25,000 to $10 million+

Sales growth

48% increased
11% no change
41% decreased

Profitable

50% yes
50% no

Profit margin
= profit divided by gross sales

16% median

 

Owner income from store
(salary, distribution, or dividend)

54% yes
46% no

Spending with suppliers per year

$49,000 median

Inventory value
(12-month average, at cost)

$75,000 median

Inventory turn
= sales/(inventory value x markup)

0.99

Retail sales floor size

1,025 square feet, median

Sales per square foot

$95 median
(in-store sales only)


Data from multiple questions on TNNA 2016 Needle Arts Retailer Survey. Much more detail is available in the Yarn Retailer Survey Results Report.

  • Source: TNNA 2016 Yarn Retailer Survey Results
  • Freshness: Retailers surveyed February 23 to March 28, 2016.
  • Respondents: 325 yarn retailers, 41 needlepoint retailers, and 27 counted thread retailers

More information: http://www.tnna.org/?Survey2016

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TNNA Survey Says: How to Add Value to What You Sell

Posted By India Hart Wood, Hart Business Research, Tuesday, August 23, 2016

TNNA Survey Says is a biweekly series of articles featuring useful business advice based upon the TNNA State of Specialty NeedleArts 2016 surveys of more than 15,000 fiber artists, retailers, and wholesalers.

TNNA Survey

Add Value to What Your Store Sells, and Become More Profit

Consider adding your own value to what your business sells. Put together kits. Design patterns and products. Help your customers finish or frame their projects. Develop content such as how-to articles and videos to help your customers use what you sell. Survey results indicate profitable retailers are more likely than unprofitable ones to do these value-added activities.

Percentage of retailers indicating they did each business activity, 2016:

Activity

 Yarn retailers

Needlepoint retailers

Counted thread retailers*

Product design (patterns, yarns, canvases, etc.)

43%

49%

11%

Assembly of kits

40%

41%

11%

Finishing or framing

24%

88%

59%

In-house product manufacturing

20%

17%

11%

Store brands manufactured by third party

15%

7%

11%

Content development (how-to videos, articles, podcasts, blog posts, etc.)

12%

5%

4%

Wholesale distribution to other retailers

9%

5%

11%


 Survey question: “What activities does your business include?” 90% or more of retailers sold products and offered classes.

*Sample size for counted thread retailers is enough for trends but not statistically reliable.

  • Source: TNNA 2016 Retailer Survey Results
  • Freshness: Retailers surveyed February 23 to March 28, 2016.
  • Respondents: 325 yarn retailers, 41 needlepoint retailers, and 27 counted thread retailers

More information: http://www.tnna.org/?Survey2016

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TNNA Survey Says: Promote Other Fiber Arts, Too

Posted By India Hart Wood, Hart Business Research, Thursday, August 11, 2016

TNNA Survey Says is a biweekly series of articles featuring useful business advice based upon the TNNA State of Specialty NeedleArts 2016 surveys of more than 15,000 fiber artists, retailers, and wholesalers.

TNNA Survey

Your Customers Know Multiple Fiber Arts, So Sell Them

The typical fiber artist today does two different fiber arts but actually knows how to do three or four. This represents an opportunity for the needle arts industry to wake up consumers’ dormant skills and increase market size with the same number of consumers.

Knitters: The cross-promotion opportunities are biggest with crochet, needlepoint, and cross-stitch. About 40%-50% of knitters know how to do these but are not currently doing them.

Needlepointers: The cross-promotion opportunities are biggest with cross-stitch, knitting, and crochet. About 40%-50% of needlepointers know how to do these but are not currently doing them.

Cross-stitchers: The cross-promotion opportunities are biggest with needlepoint, crochet, and knitting. About 40%-50% of cross-stitchers know how to do these but are not currently doing them.

Percentage of each segment that created at least one project in that fiber art last year:


Fiber art

Knitters

Crocheters

Needle-pointers

Cross-stitchers

Weavers

Spinners

Knitting

100%

42%

29%

31%

61%

89%

Crochet

41%

100%

14%

28%

28%

45%

Needlepoint

5%

5%

100%

24%

4%

7%

Cross-stitch and embroidery

17%

19%

25%

100%

11%

15%

Weaving

13%

6%

1%

2%

100%

53%

Spinning skeins

18%

8%

0%

2%

32%

100%

Total

193%

179%

166%

182%

232%

305%


Survey question: ”How many projects did you finish in each of these fiber arts in 2015?” Table shows percentage of each segment that completed at least one project in that fiber art. The totals indicate how many fiber arts they typically created; for example, spinners typically created in three (305%) different fiber arts and knitters, two (193%).

Percentage of each segment that has tried each fiber art:

 

Knitters

Crocheters

Needle-pointers

Cross-stitchers

Weavers

Spinners

Knitting

100%

77%

73%

70%

87%

96%

Crochet

83%

100%

55%

72%

71%

81%

Needlepoint

55%

51%

100%

79%

51%

55%

Cross-stitch and embroidery

68%

68%

74%

100%

57%

63%

Weaving

33%

21%

12%

13%

100%

76%

Spinning skeins

36%

16%

5%

6%

52%

100%

Total

375%

332%

318%

340%

417%

471%


Survey question: “How proficient are you at these fiber arts?” Percentages indicate those who said they were beginner, intermediate, or advanced in each, versus had never tried. The totals indicate how many fiber arts they have tried; for example, spinners typically have tried nearly five (471%) different fiber arts and knitters, nearly four (375%).

  • Source: TNNA Knitter, Crocheter, and Weaver Survey Results
  • Freshness: Fiber artists surveyed January 25 to February 15, 2016.
  • Respondents: 8,842 knitters, 2,056 crocheters, 1,309 weavers

More information: http://www.tnna.org/?Survey2016

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