In the latest edition of Omni Talk’s Retail Fast Five live from Lululemon Mall Of America sponsored by the A&M Consumer and Retail Group, Avalara, Wiliot, TGW-Logistics and Sezzle Chris Walton and Anne Mezzenga discuss: Michaels Bringing Its Digital Maker Marketplace To Stores
In this video, we explore Michaels' innovative approach to supporting independent crafters through its new in-store Makerplace pilot program. Launched in November 2023, MakerPlace by Michaels began as an online third-party handmade digital marketplace, offering handmade goods, artisanal classes, how-to guides, and access to Michaels' extensive craft supplies and componentry.
Fast forward to February 2024, and Michaels has taken the concept to the next level by piloting an in-store version of MakerPlace across seven stores in North Carolina, Florida, Missouri, Illinois, Utah, Louisiana, and Massachusetts. This move empowers local independent crafters by providing them with an opportunity to sell directly to customers in their community, driving exposure and sales for their handmade businesses.
We discuss how this strategic initiative creates a perfect flywheel effect, connecting the Michaels community both online and in-store, while generating valuable customer data and trend insights. However, we also explore the potential challenges of scaling such a model, including increased merchandising complexities and marketing expenses.
Finally, we highlight the visionary leadership of Michaels CEO Ashley Buchanan and draw comparisons to Target CEO Brian Cornell's career path, suggesting that Buchanan could be a dark horse candidate for top retail executive positions in the future.
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For the full episode head here:https://youtu.be/YFJ7V0B0LmU
