Many consumer goods market segments, including the handmade producers, have been hard-hit by the pandemic, the overall long-term growth outlook for this sector is very positive. A recent report suggests with more than $500 billion in annual revenue last year, the global handmade product sector is set to grow by 20% per year reaching $1 trillion by 2024.
The sector more broadly is dominated by a workforce of women, youth and rural populations and is the second-largest employer globally (after agriculture), yet the sector has been ignored and under-served by a lack of investment, digitization, access to business finance and global markets.
As we emerge from the pandemic, it is crucial to include the handmade communities in business models to ensure supply chains are more resilient, growth is more inclusive, and the makers of these unique and sustainable products are rewarded.
We introduce handmade products designed by a team of designers in collaboration with Sheworks.