SWOT Analysis for Craft Trade
After studying the handicraft industry for some time it helped me to attain knowledge regarding the consumer behavior and the market also which led to draw this SWOT analysis for Craft Trade
> Products from different parts of the country at one stop.
> Customized products.
> E-Commerce platform just to cater the needs of handicraft buyers.
> Products manufactured using debris and waste.
> Low Cost.
> Delivering products at the doorsteps of consumers.
> Perception of handicraft products as high-end products.
> Fund generation for a startup.
> Perception in the minds of people regarding the quality of the product.
> Handicraft Products are delicate in nature leading to breakages.
> Demand for antiques and crafts is rising.
> The unsaturated market which is scattered.
> No major competitor.
> love for crafts in the world can boost exports.
> E-commerce portals are the biggest threat which delivers handicraft products online.
> Unskilled labor and their occupational shifts due to low income.
> Machine made Chinese handicrafts which are produced in bulk.
SWOT Analysis proves that Craft Trade will be a money-making business thus we will be doing a PESTLE analysis for the feasibility study of the business.