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Craft retail blueprint: Business Model Canvas for profitable omnichannel growth
Discover how Michaels Companies turns craft retail expertise into profitable growth with our Business Model Canvas—covering customer segments, omnichannel value propositions, and key partnerships. This concise snapshot reveals strengths and gaps, and the full downloadable Canvas provides a section-by-section roadmap for strategy, benchmarking, and investor due diligence.
Partnerships
Global craft suppliers
Relationships with manufacturers of art supplies, yarn, floral, framing and seasonal décor give Michaels breadth and depth across assortments across its network of over 1,200 North American stores. Volume purchasing secures favorable pricing and exclusive SKUs, while co-development of private-label lines boosts margin and differentiation. Reliable sourcing reduces stockouts during peak seasons such as Halloween and Christmas.
Logistics and carriers
Third-party logistics providers, parcel carriers, and freight partners enable Michaels’ omnichannel store replenishment and e-commerce fulfillment across its network of over 1,200 North American stores. Multi-node distribution reduces transit times and cost by staging inventory closer to demand. Peak-season capacity planning scales for holiday and back-to-school surges; reverse logistics partners streamline returns and damaged-goods handling. Michaels reported $5.3B net sales in FY2023.
Technology and e-commerce vendors
Technology and e-commerce partners — platform and POS vendors, personalization engines and mobile app developers — power Michaels’ omnichannel experience across its roughly 1,200 North American stores. Payment gateways and fraud-screening tools protect millions of annual transactions, while martech and CRM vendors drive targeted promotions and loyalty programs that increase repeat purchase rates. Real-time data integrations enable inventory visibility and buy-online-pickup-in-store fulfillment to reduce stockouts and speed order flow.
Creative brands and licensors
Partnerships with known craft and hobby brands expand Michaels credibility and attract enthusiasts, leveraging the company’s footprint of about 1,252 North American stores (2024). Licensing deals for themed and seasonal collections drive store and online traffic during peak quarters. Collaborative merchandising and in-store displays raise average basket size, while co-marketing amplifies launches across Michaels’ omnichannel channels.
- stores: 1,252 (2024)
- focus: licensed seasonal collections
- benefit: higher basket size via displays
Community and class instructors
Local creators and class instructors host in-store classes and demos that activate Michaels stores, which operate about 1,270 locations in North America (2024). Partnerships with schools, community centers, and nonprofits expand outreach and drive repeat visits, while events boost incremental sales of project supplies and user-generated content fuels social inspiration and discovery.
- Local creators: in-store classes
- Schools/nonprofits: expanded outreach
- Events: repeat visits, incremental supply sales
- UGC: social inspiration and discovery
Partnerships power omnichannel: 1,252 stores, $5.3B
Key partnerships with suppliers, logistics, tech, brands and local creators underpin assortment depth, omnichannel fulfillment and in-store activation across Michaels’ ~1,252 North American stores (2024), supporting scale purchasing, private-label development and peak-season resiliency; company reported $5.3B net sales in FY2023.
| Metric | Value |
|---|---|
| Stores (NA) | 1,252 (2024) |
| Net sales | $5.3B (FY2023) |
What is included in the product
Detailed Word Document
A concise, pre-written Business Model Canvas for The Michaels Companies covering nine blocks—customer segments (DIY hobbyists, educators, event planners), omnichannel sales channels, curated value propositions (wide assortment, private labels, seasonal assortments), key partners and supply chain, loyalty and marketing, cost/revenue structure, competitive advantages (scale, private brands) and SWOT—designed for presentations and investor discussions.
Customizable Excel Spreadsheet
High-level, editable Business Model Canvas for The Michaels Companies that condenses retail and omnichannel strategy into a one-page snapshot to relieve planning friction. Great for teams to quickly align on value propositions, store operations, and supplier partnerships while saving hours of structuring and format work.
Activities
Merchandising and assortment
Curating a wide range of arts, crafts, framing, floral, décor and seasonal goods is core, supporting Michaels’ omnichannel assortment across roughly 1,100+ stores and e-commerce; fiscal 2024 net sales were about $6.5 billion. Private label development increases exclusivity and margin contribution, with owned brands prioritized in planograms. Planogramming and seasonal resets align inventory to demand cycles, while vendor negotiations secure availability and cost advantages.
Omnichannel retail operations
Omnichannel operations combine roughly 1,260 Michaels stores (as of 2024) with e-commerce, curbside pickup and ship-from-store to deliver seamless convenience. Inventory accuracy and automated replenishment systems are actively managed to keep in-stock rates high and reduce lost sales. BOPIS and same-day delivery boost conversion and repeat purchases, while streamlined returns and exchanges reduce friction and support loyalty.
Marketing and community engagement
Campaigns across email, social, search and in-store signage drive traffic to Michaels' 1,200+ stores and digital channels, boosting omnichannel conversion. Classes, workshops and maker events increase basket attachment and repeat visits by turning retail into experiential learning. Loyalty programs personalize offers and promotions to registered members. Seasonal storytelling ties products to occasions and trending DIY movements.
Framing services and custom work
Custom framing consults and production provide high-margin services that drive in-store profitability; as of 2024 Michaels operated roughly 1,200 North American stores, leveraging local demand for framing. On-site design expertise consistently elevates average basket size, while standardized processes ensure quality control and predictable turnaround times. Upsell options include glazing, matting, and conservation services to increase per-transaction revenue.
- High-margin custom framing
- On-site design boosts basket size
- Standardized production = reliable turnaround
- Upsells: glazing, matting, conservation
Supply chain and demand planning
Forecasting aligns procurement with seasonal peaks for Michaels, supporting inventory across over 1,200 stores and ecommerce, reducing stockouts during craft-heavy quarters.
DC operations, allocation, and vendor compliance ensure steady flow while mode optimization and right-sized packaging manage cost-to-serve; continuous improvement programs focus on reducing shrink and damages.
- Forecasting: seasonal alignment
- Operations: DC allocation, vendor compliance
- Cost-to-serve: mode & packaging optimization
- CI: shrink & damage reduction
Omnichannel assortment, private labels and services fuel higher margins across ~1,260 stores
Curating multi-category assortment across ~1,260 stores and ecommerce (FY2024 net sales ~$6.5B), private labels and planograms boost margins. Omnichannel fulfillment (BOPIS, ship-from-store) and DC allocation optimize in-stock rates and speed. High-margin framing, classes, loyalty and seasonal resets drive AOV and repeat visits.
| Metric | Value (2024) |
|---|---|
| Stores | ~1,260 |
| FY2024 Net Sales | ~$6.5B |
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Resources
Store network and DCs
The Michaels Companies maintains a North American footprint of over 1,200 stores (2024), providing close proximity to core customers. Regional distribution centers and cross-docks support timely replenishment and inventory flow. Store backrooms enable ship-from-store and BOPIS fulfillment, boosting omnichannel sales. Long-term lease agreements and strategic store locations drive steady foot traffic and convenience.
Private label portfolio
Owned private-label brands in core categories provide differentiation and support higher margins, leveraging Michaels' scale across over 1,200 North American stores (2024). Control over quality and packaging strengthens brand equity and customer trust. Exclusive lines drive repeat visits and basket size. Flexible sourcing enables rapid response to craft and seasonal trends, shortening time-to-shelf.
Merchandising and maker expertise
Category buyers, designers and 20,000+ in-store associates retain domain knowledge across Michaels’ network of over 1,200 North American stores, translating trends into curated assortments. A standardized curriculum for classes—delivered in-store and online—turns trends into projects, supporting thousands of weekly classes that drive traffic. Framing specialists provide consultative selling while content creators generate how-to guidance and social content tied to the retailer’s ~6.4 billion USD annual net sales (FY2023).
Digital platforms and data
Digital platforms—e-commerce, mobile app, CRM and a loyalty database—enable deep personalization and lifetime-value tracking; real-time inventory systems uphold omnichannel promises (BOPIS/ship-from-store); analytics drive pricing, promotions and demand forecasting; marketing automation scales targeted outreach across channels. In 2024 Michaels reported about $6.8B net sales, leveraging these systems to boost omnichannel conversion.
- E-commerce + app: personalized UX
- CRM + loyalty: customer segmentation
- Real-time inventory: BOPIS/ship-from-store
- Analytics: pricing & forecasting
- Marketing automation: scalable targeting
Brand and community relationships
The Michaels brand signals creativity and breadth of choice across over 1,200 North American stores; partnerships with creators and schools extend reach into classrooms and creator networks. Owned media—social followings and email lists in the millions—drive direct engagement. Consistent availability and service build trust and loyalty.
- Over 1,200 stores (North America)
- Social and email audiences: millions
- Partnerships with creators and schools expand reach
Omnichannel retailer: Over 1,200 stores, $6.8B sales, rapid fulfillment
Over 1,200 North American stores (2024) with regional DCs enable BOPIS and ship-from-store omnichannel fulfillment. Owned private-labels and curated assortments drive margin and repeat visits. Digital platforms, CRM and loyalty support personalized marketing and analytics tied to ~$6.8B net sales (2024) and 20,000+ associates.
| Metric | Value (2024) |
|---|---|
| Stores | 1,200+ |
| Net sales | ~$6.8B |
| Associates | 20,000+ |
Value Propositions
One-stop creative assortment
One-stop creative assortment at Michaels, available across over 1,250 North American stores and online, consolidates art, craft, floral, décor, and seasonal needs to save customer time. Depth in sizes, colors, and specialized tools—spanning thousands of SKUs—supports beginners through professionals. Project-based merchandising and curated kits simplify decision-making, while broad in-stock coverage enables reliable last-minute sourcing.
Affordable creativity
Affordable creativity is delivered through competitive pricing, frequent coupons (often up to 60% off) and private-label assortments that preserve margin while cutting shopper costs. Bundles and class tie-ins—classes averaging about $25—reduce total project spend by combining materials and instruction. Loyalty rewards exceed 8 million members, stretching budgets; everyday value underpins Michaels’ ≈$5.4B 2024 net sales across 1,200+ stores.
Inspiration to execution
Classes, demos and online content at Michaels turn inspiration into finished projects, supported by project lists that map ideas to exact SKUs and cross-sell suggestions to complete toolkits; staff expertise fills skill gaps. Michaels reported fiscal 2023 net sales of about $6.1 billion and operates over 1,200 stores, scaling these services across venues and digital channels.
Customized framing services
Professional framing elevates artwork, photos and memorabilia through custom sizes, museum-grade mats and conservation glazing; Michaels serves about 1,250 North American stores (2024), enabling broad access. Wide frame and mat options enable personalization; quality materials and in-store warranties provide peace of mind, while regular promotions and weekly coupons help balance premium services with affordability.
- customization: museum mats, conservation glazing
- reach: ~1,250 stores (2024)
- quality: durable materials, in-store warranties
- pricing: promotions, weekly coupons
Omnichannel convenience
Michaels, with about 1,200 North American stores, offers BOPIS, curbside pickup and same-day options to fit busy schedules; its mobile app and website streamline search and checkout. Store associates support product discovery and in-store returns, while consistent pricing and store-level inventory visibility reduce friction and improve conversion.
- BOPIS, curbside, same-day fulfillment
- Mobile app and website for search & checkout
- In-store associates for discovery & returns
- Consistent pricing and real-time inventory visibility
Arts & crafts chain: $5.4B sales, ~1,250 stores, 8M+ loyalty members
Michaels delivers one-stop assortments of 1000s SKUs across ~1,250 North American stores (2024) and strong e-commerce, combining affordable pricing, frequent coupons and private labels to support projects for novices and pros. Classes (~$25 avg) and content plus 8M+ loyalty members drive repeat purchases; pro framing and omnichannel fulfillment (BOPIS/curbside) add premium convenience.
| Metric | 2024 |
|---|---|
| Net sales | $5.4B |
| Stores | ~1,250 |
| Loyalty | 8M+ |
| Class avg | $25 |
Customer Relationships
Loyalty and rewards programs
Tiered loyalty with points and personalized offers drives repeat purchases, leveraging over 20 million members in 2024 and Michaels' ~1,200 stores to boost basket sizes. Data-driven targeting times promotions to project cycles and seasonal peaks, supporting Michaels' roughly $6.5B in 2023 net sales. Members get early access and targeted coupons. Communications nudge cross-category exploration via curated recommendations.
In-store consultative service
Associates provide advice on materials and techniques across Michaels' network of over 1,200 North American stores (2024). Dedicated framing consultants offer bespoke design guidance and upsell framing services. Prompt problem-solving builds trust and increases basket size. Clear service recovery policies maintain customer satisfaction and retention.
Community events and classes
Workshops foster belonging and skill-building, leveraging Michaels presence across over 1,200 North American stores to create repeat engagement. Events give customers reasons to visit and shop, supporting the company’s multi-billion-dollar retail footprint (roughly $6 billion annual sales in recent years). Partnerships with independent instructors expand class variety and reach. Regular feedback loops refine curricula and in-store assortment based on participant data.
Digital engagement and content
Email, app notifications, and social content at Michaels drive project inspiration and traffic to its ~1,100 North American stores and digital channels (2024), while how-to articles and videos reduce purchase hesitation by demonstrating use and fit. Reviews and Q&A provide peer validation and trust, and personalized recommendations—shown to lift revenue 10–15% in 2024 personalization studies—increase relevance and conversion.
- app notifications
- social content
- how-tos/videos
- reviews & Q&A
- personalized recommendations
Customer support and returns
Multichannel support (phone, chat, in-store) resolves issues quickly, while clear return policies reduce shopper anxiety about trying new crafts; Michaels reported approximately $6.6 billion in net sales in fiscal 2023, underpinning broad service scale. Self-service in-store returns boost convenience and same-store recovery; proactive order updates (email/SMS) increase on-time visibility and customer confidence.
- Multichannel support
- Clear return policies
- In-store self-service returns
- Proactive order updates
Tiered loyalty with 20M members and ~1,200 stores fuels $6.6B sales
Tiered loyalty (20M members in 2024) and ~1,200 stores drive repeat buys and omnichannel conversion. Data-driven personalization (10–15% lift in 2024 studies) times promotions to seasonal/project cycles supporting ~$6.6B net sales (FY2023). Workshops, framing consultants, and multichannel support increase retention and AOV.
| Metric | Value |
|---|---|
| Loyalty members (2024) | 20M |
| Stores (2024) | ~1,200 |
| Net sales (FY2023) | $6.6B |
| Personalization lift (2024) | 10–15% |
Channels
Retail stores
Retail stores are the primary sales channel, offering tactile product discovery across about 1,250 U.S. locations (2024) and driving higher basket sizes through endcaps and seasonal aisles that boost impulse buys. In-store services such as framing and classes anchor visits and encourage repeat traffic. Stores also fulfill online orders and BOPIS, supporting omnichannel fulfillment and reducing last-mile costs.
E-commerce website
Michaels e-commerce offers full-catalog access with real-time inventory tied to its omnichannel network, supporting conversion through dedicated project pages and curated bundles that simplify purchase decisions. Flexible delivery and curbside pickup options bridge online-to-store, leveraging Michaels’ ~1,300 North American stores as of 2024. Integrated promotions and loyalty drive repeat purchase and basket growth.
Mobile app
Mobile app provides barcode lookup, in-app coupons and real-time store inventory to shop across Michaels more than 1,200 North America locations as of 2024; push notifications drive timely engagement and promotions. Built-in lists and project planners simplify repeat buys and project tracking, while streamlined BOPIS checkout accelerates pickup conversion and reduces in-store wait times.
Social and content platforms
Social and content platforms fuel inspiration and community interaction that drive demand. Shoppable posts shorten the path to purchase and creator collaborations extend reach across new audiences. Event promotion on these channels boosts workshop attendance and store traffic; Michaels operates about 1,200 North American stores (2024) and digital sales were roughly 17% of net sales (FY2023).
- tag:community-engagement
- tag:shoppable-posts
- tag:creator-collabs
- tag:event-promotion
Email and direct marketing
Email and direct marketing target offers by behavior and seasonality, driving themed new-product launches and timed craft-event promotions across Michaels portfolio of over 1,200 North American stores; cart and browse recovery nudges lift online conversion, while loyalty statements reinforce Michaels Rewards value.
- Targeted offers
- Seasonal launches
- Cart recovery nudges
- Loyalty reinforcement
Stores drive omnichannel growth with ~1,250 locations and ~17% digital sales
Retail stores are primary channel with ~1,250 U.S. locations (2024), driving higher baskets via seasonal merchandising and in-store services; stores fulfill BOPIS and ship-from-store. E-commerce ≈17% of net sales (FY2023) with omnichannel inventory, curated bundles and flexible delivery. Mobile, social and email personalization convert inspiration into purchases and boost repeat visits.
| Metric | Value |
|---|---|
| U.S. stores (2024) | ~1,250 |
| Digital share (FY2023) | ~17% |
Customer Segments
Hobbyists and DIY enthusiasts
Adults pursuing crafts, décor, and gifting projects favor Michaels for variety, inspiration, and affordability; they shop seasonally and for life events and increasingly use BOPIS and coupons. Michaels served this segment through over 1,200 stores in North America (2024) and reported net sales near $6.1 billion (FY2023), driven by strong hobbyist traffic and promotions.
Professional artists and makers
Professional artists and makers demand consistent, high-quality materials and bulk purchasing options and often source specific brands and specialty media; Michaels Pro reported over 1 million business customers by 2024, reflecting this demand. They value time-saving services like curated assortments, priority fulfillment, and reliable in-stock availability. Many use tax-exempt purchasing and business-friendly terms to manage costs and inventory.
Parents and educators
Parents and educators buy for classrooms, camps and family activities, preferring safe, easy-to-use supplies and lesson-aligned content; Michaels, operating ~1,250 North American stores in 2024, emphasizes kits and volume discounts to serve bulk purchases and curriculum needs.
Home decorators and crafters
Home decorators and crafters prioritize floral, frames, and wall décor, seeking trend-right and seasonal looks while valuing customization and coordinated palettes; they frequently add complementary tools and adhesives at checkout. This segment drives repeat visits and higher basket size for Michaels, supported by its broad store footprint and seasonal merchandising.
- Focus: floral, frames, wall décor
- Behavior: trend/season-driven, customization-focused
- Retail context: over 1,200 stores (2024)
Event and small business customers
Event and small business customers plan weddings, parties and pop-up retail displays and require consistent colorways and repeatable SKUs for cohesive merchandising; they rely on time-sensitive ordering with same-day or curbside pickup offered at over 1,200 Michaels stores (2024) and benefit from bulk purchasing and custom framing services.
- events: weddings, parties, pop-ups
- needs: consistent colorways, repeatable SKUs
- logistics: time-sensitive orders, same-day/curbside (2024)
- value: bulk discounts, custom framing
Arts & crafts leader: ~1,250 stores, $6.1B sales, 1M+ pros
Adults, hobbyists, pros, parents/educators, home decorators and event/small-business customers drive Michaels' demand for variety, bulk SKUs, seasonal assortments and services like BOPIS, custom framing and priority fulfillment. Michaels operated ~1,250 North American stores (2024), reported net sales ~$6.1B (FY2023) and Michaels Pro served >1M business customers by 2024.
| Segment | Key needs | 2024 metric |
|---|---|---|
| Adults/Hobbyists | Variety, affordability | ~1,250 stores |
| Pros/Makers | Bulk, quality, priority | >1M Pro customers |
| Parents/Educators | Safe kits, volume | Classroom bulk sales |
| Events/SMBs | Consistent SKUs, fast pickup | BOPIS/curbside |
Cost Structure
Cost of goods sold
Product purchase costs for Michaels' branded and private-label lines drive COGS, with FY2024 net sales ~6.0 billion informing scale economies. Currency swings and ocean freight rate volatility materially influence landed costs and import margins. Heavy seasonal markdowns during Q4 compress gross margins. Favorable vendor payment terms and rebate programs partially offset these expense pressures.
Store operations
Store operations drive Michaels’ largest cost pools: rent, labor, utilities and maintenance across its more than 1,200 stores (2024), with periodic fixtures, signage and resets creating cyclical capital and installation costs; loss prevention and shrink-management programs (retail shrink trends ~1.5%–1.7% industrywide) add security spend; dedicated in-store class and custom framing labor further inflate hourly labor and training expenses.
Supply chain and logistics
Michaels' supply chain costs cover DC operations serving over 1,100 North American stores, transportation and packaging, with peak-capacity surcharges and expedited shipping spikes in holiday periods. Investments in inventory-visibility tech aim to cut stockouts and expedite replenishment; returns processing and damage control remain material, with FY2023 net sales around $6.0 billion.
Sales and marketing
Sales and marketing costs cover advertising, promotions, coupons, and loyalty rewards across digital and in-store channels, plus content creation and influencer collaborations to drive brand engagement. CRM and martech subscriptions fund customer segmentation, personalization and retention analytics, while creative production and media buys support national campaigns and seasonal assortments. These line items represent a mix of fixed platform fees and variable media spend tied to campaign cadence.
- Advertising & promotions
- Coupons & loyalty rewards
- Content & influencer fees
- CRM & martech subscriptions
- Creative production & media buys
Technology and G&A
Technology and G&A for Michaels centers on maintaining an omnichannel eCommerce platform and modern POS, with rising 2024 emphasis on cybersecurity and store/DC IT hardware to support roughly 1,200 North American stores; corporate salaries (legal, finance) and ongoing training/compliance programs are recurring fixed costs that support store operations and regulatory adherence.
- eCommerce & POS upgrades
- Cybersecurity initiatives (2024 priority)
- Corporate salaries: legal & finance
- Store & DC IT hardware
- Training & compliance programs
FY2024 net sales $6.0B, import volatility & store costs squeeze margins
COGS driven by branded/private-label purchases with FY2024 net sales ~6.0 billion, import cost volatility and seasonal Q4 markdowns compress margins. Store ops (1,200+ stores in 2024) create major rent, labor and maintenance expense pools; shrink ~1.6% adds security costs. Supply chain/DCs, peak shipping surcharges and tech investments (eCommerce, cybersecurity) are material recurring spends.
| Metric | 2024 |
|---|---|
| Net sales | $6.0B |
| Stores | 1,200+ |
| Retail shrink (industry) | ~1.6% |
Revenue Streams
In-store product sales
In-store product sales at Michaels—the largest arts-and-crafts retailer with over 1,100 North American stores in 2024—generate primary revenue from art supplies, craft materials, floral, décor and seasonal goods. Impulse buys and holiday-season peaks materially lift volume. Private-label assortments improve gross margin, while product attachments and add-ons increase average basket size.
Online product sales
Online product sales mix omnichannel fulfillment—e-commerce orders are shipped or picked up in-store across Michaels’ network of about 1,250+ locations—supporting higher conversion and lower delivery friction. An expanded long-tail assortment online increases average order value and repeat purchases by reaching niche craft categories not stocked in every store. Same-day offerings and buy-online-pickup-in-store capture urgent needs and reduce cart abandonment. Targeted digital promotions and personalized emails drive measurable conversion uplift, often in the mid-to-high single digits.
Custom framing services
Custom framing delivers high-margin service revenue via design and assembly, with upsells on mats, glass, and protective options often lifting average ticket; Michaels reported fiscal 2024 net sales of about 6.14 billion, with framing offered as a mix of standard and premium tiers and lead times typically managed at 3–7 days to maintain satisfaction.
Classes and workshops
Classes and workshops generate fees from instructional sessions and make-and-take events, leveraging Michaels’ footprint of approximately 1,200 stores (2024) to drive foot traffic. Curricula-linked incremental product sales increase average basket size as customers buy project kits and supplies. Private group bookings for parties and schools plus seasonal program rotations (holiday, summer, back-to-school) create predictable, recurring event revenue.
- Fees per session: paid instructional/make-and-take
- Upsell: curriculum-tied product sales
- Private bookings: parties, schools
- Seasonality: rotating programs boost demand
B2B and bulk sales
B2B and bulk sales supply volume orders to schools, nonprofits, and small businesses via contract pricing and tax-exempt processing, supporting repeat replenishment rhythms and special orders that extend assortment; Michaels services these customers alongside approximately 1,200 North American stores (2024).
- Volume orders: schools, nonprofits, SMBs
- Contract pricing & tax-exempt sales
- Repeat replenishment patterns
- Special orders expand assortment
Omnichannel craft retail: in-store sales, private-label, framing, classes and B2B growth
Primary revenue drivers: in-store product sales (art supplies, seasonal goods) and private-label assortments; e-commerce omnichannel sales with BOPIS and same-day fulfillment; high-margin custom framing services; classes/events and B2B/bulk contracts. Michaels reported fiscal 2024 net sales of about 6.14 billion and ~1,250 North American locations.
| Metric | 2024 |
|---|---|
| Net sales | $6.14B |
| Stores (NA) | ~1,250 |
| Key streams | In-store, e‑commerce, framing, classes, B2B |