Michaels, traditionally a B2C retailer, launched MichaelsPro to support small businesses, makers, and DIY entrepreneurs. This program offers wholesale pricing, bulk purchasing, and other benefits, demonstrating a strategic shift to engage with the growing creator economy and provide solutions for sourcing and supply chain challenges faced by smaller entities. This initiative allows Michaels to deepen its relationship with professional creators and expand its market reach beyond the traditional consumer.
Key takeaways
MichaelsPro provides wholesale pricing and bulk purchasing, a critical offering for small businesses that often struggle to access materials at competitive rates.
The program signifies Michaels' strategic entry into the B2B space, tapping into the maker economy and offering a new revenue stream beyond direct-to-consumer retail.
Michaels leverages its existing retail footprint and online presence to facilitate MichaelsPro, offering multiple touchpoints for small business engagement.
MichaelsPro aims to build a community around creators, fostering loyalty and providing resources beyond just products, which can lead to stronger customer retention.
The initiative provides insights into how large retailers can adapt to market shifts by supporting smaller businesses, potentially fostering a more robust retail ecosystem.
In episode 271 of Total Retail Talks, Editor-in-Chief Joe Keenan interviews Matthew Rubin, senior vice president of business development and growth at Michaels, North America's largest specialty provider of arts, crafts, framing, floral, wall décor, and seasonal merchandise for makers and do-it-yourself home decorators. Listen in as Rubin discusses the launch of the new MichaelsPro…
What does this episode say about retail & omnichannel?
MichaelsPro provides wholesale pricing and bulk purchasing, a critical offering for small businesses that often struggle to access materials at competitive rates.
What does this episode say about supply chain & operations?
The program signifies Michaels' strategic entry into the B2B space, tapping into the maker economy and offering a new revenue stream beyond direct-to-consumer retail.
What does this episode say about brand & content?
Michaels leverages its existing retail footprint and online presence to facilitate MichaelsPro, offering multiple touchpoints for small business engagement.
What does this episode say about customer retention?
MichaelsPro aims to build a community around creators, fostering loyalty and providing resources beyond just products, which can lead to stronger customer retention.
What does this episode say about retail & omnichannel?
The initiative provides insights into how large retailers can adapt to market shifts by supporting smaller businesses, potentially fostering a more robust retail ecosystem.
