Write a paragraph to commend respond and to this article

Article 1

The Michael's Companies, Inc., better known as simply Michael's, is a company focused on selling art and crafting supplies. Alongside this, the Michael's stores also sell home decor items such as picture frames and knick knacks for the various seasons and holidays. Many offer custom framing for pictures that don't fit the typical frames sold.

Economic Forces

Michael's is a business that relies on the money people spend on their hobbies. With these types of activities being wants rather than needs for survival, the company faces increased pressure during times of economic crisis. This was demonstrated quite recently with the economic impact of COVID-19, especially early on during the quarantine. Because potential customers needed to allot more money in their budget to things like scarce groceries, they didn't have the income remaining to spend extra cash on craft supplies. People saved more of their money out of fear that they'd be stuck in quarantine, quite possibly without work, for the unforeseeable future.

Technological Forces

Following on with the topic of COVID, advancements in technology have helped Michael's prosper even during these unpredictable economic periods. Michael's website has allowed customers to purchase their art supplies online and have them shipped to their home, which helped bypass the fear of exposure. To further play to their strengths, Michael's began allowing people to order their purchase ahead of time and simply have an employee bring the items to their car - curbside pick-up. If it weren't for the technology that allowed stores to track what people ordered, it's likely that more of the store locations would have had to close down during the pandemic.

Competitive Forces

Michael's has several competitors and these rival companies have pushed Michael's to change its strategy and marketing plan. Some of these competitors are other specialized craft stores like Jo-Ann's and Hobby Lobby, while some are broader in focus and are trying to reach new markets. Some of these include Walmart, Target, and the online distributor and seller, Amazon. Michael's, in response, have begun emphasizing their bulk deals, shifting target markets toward professional artists and educators that would be interested in these deals.

Sociocultural Forces

Our culture has begun to place a greater importance on mental health, with one of the frequently mentioned ideas being expressing yourself creatively in some form. Michael's has an advantage due to this shift because they can market things like adult coloring books and paint-by-number kits as a way to relax from the stress of the day. Sketchbooks and journals are another huge selling point for them and frequent sales on these items can encourage customers to purchase more products to write or draw with.

There's also the social judgement placed on their competitors. The best example of this would be the public's reaction to Hobby Lobby's anti-lgbtq stance. American culture is shifting to embrace those from all different cultures, the queer community included. This has led many to stop shopping at businesses that endorse or enact rules they view as discriminatory. These customers then move on to other companies in the field to fill the void. Michael's has capitalized on this with its large array of Pride products every summer. Displays of rainbow-printed merchandise are placed in the center of main walkways to encourage customers to buy them and this has created a sense of belonging for the creative people in the LGBTQ community, along with their families, friends, and other allies.