Michaels Releases Top “Making” Trends of 2020

Rhea-AI Summary

The Michaels Companies (NASDAQ: MIK) released its top arts and crafts trends for 2020, analyzing sales data amid the pandemic. Consumers engaged in various creative activities, with notable increases in the sales of vinyl cutting machines and resin products. The top trends included jewelry making, technological crafting tools, kids' arts and education, yarn projects, and fine art. To further support creativity, Michaels launched the 'Difference Makers' initiative, encouraging community contributions through creativity. The report highlights the evolving interests of consumers during a challenging year.

Positive

• Sales of vinyl cutting machines more than doubled.
• Purchases of resin products increased over 10x.
• Launch of 'Difference Makers' initiative to support community creativity.

Negative

• None.

The Michaels Companies, Inc. (NASDAQ: MIK), today released the top trends in making.* Michaels analyzed its 2020 sales and trend data to identify how customers were “making” the most out of their time at home.

Michaels Stores shares the top arts and crafts trends of 2020 (Graphic: Business Wire)

Makers - people who make arts and crafts as a hobby or business - used crafting to cope during the pandemic. Through internal data, Michaels saw that consumers across the country knitted, painted, beaded and tie dyed their way through the year.

“Several new trends emerged this year given everyone spent more time at home,” said Laura Denk, Chief Merchandising Officer at Michaels. “In 2020, technology for personalizing items was popular, with the sale of vinyl cutting machines more than doubling. Meanwhile, purchases of resin, to make colorful earrings and bracelets, increased more than 10x. As the one stop shop for arts and crafts, it’s so important that we continue to inspire our Makers and help fuel their creativity, especially in a year like this.”

Michaels 2020 Top 5 Trends in Making

1. Jewelry – Jewelry making is a fan favorite every year, but in 2020 the big winner was resin, resin, resin for making earrings, bracelets and more, to keep you fun and fresh for yet another Zoom.
2. Technology – The role of technology in making has continued to increase in recent years. In 2020, we saw a huge shift in consumers buying machines to help them create personalized items and gifts, like the stainless-steel tumbler for coffee and cocktails. Did we mention cocktails?
3. Kids Arts and Education – With kids both learning and playing at home this year, laptop trays for home school and tie dye kits for everything from t-shirts to canvas bags were popular trends.
4. Yarn – Big yarn was a popular trend this year given that people spent A LOT of time cozying up on the couch.
5. Fine Art – Canvases for painting and paint pouring really popped this year. People poured paint to put their minds at ease while also beautifying their space.

In a continued effort to support Makers, Michaels launched “Difference Makers”, an initiative to inspire Americans to brighten their communities with their creativity. Michaels is encouraging Makers to share how they, or someone in their lives, are using creativity to bring cheer to those in their community who need it most. Makers are invited to visit www.michaels.com/differencemakers to upload an image and description of their goodwill gesture until December 26. Select entries may be profiled on Michaels channels and receive a $250 Michaels gift card.

*First-party internal data from Michaels based on fastest growing categories and items within each, year over year.

About The Michaels Companies, Inc.: The Michaels Companies, Inc. is North America's largest specialty provider of arts, crafts, framing, floral, wall décor, and seasonal merchandise for Makers and do-it-yourself home decorators. The Company operates more than 1,272 Michaels stores in 49 states and Canada. Additionally, the Company serves customers through digital platforms including Michaels.com and Canada.michaels.com. The Michaels Companies, Inc., also owns Artistree, a manufacturer of high-quality custom and specialty framing merchandise. For a list of store locations or to shop online, visit www.michaels.com or download the Michaels app.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201217005298/en/

FAQ

What are the top arts and crafts trends identified by Michaels in 2020?

The top trends include jewelry making with resin, technological crafting tools, kids' arts and education, yarn projects, and fine art.

How did consumer behavior change during the pandemic according to Michaels?

Consumers engaged in more crafting activities to cope with staying at home, leading to increased sales in various categories.

What is the 'Difference Makers' initiative by Michaels?

It's an initiative encouraging people to share their creative projects that bring cheer to their communities, with select entries receiving a gift card.

Which crafting category saw a significant sales increase in 2020?

Sales of resin products for making jewelry increased over 10 times.

What technological trends did Michaels observe in 2020?

There was a significant shift towards purchasing machines for creating personalized items, including vinyl cutting machines.