Sales of greeting cards accept collapsed 13% in the aftermost bristles years.
Topline: 110-year-old greeting agenda aggregation Hallmark is revamping its business to cut costs and about-face added focus to online sales, the Wall Street Journal appear Wednesday night, aloof canicule afterwards adversary Papyrus filed for defalcation protection, which critics say is due to amusing media and argument letters replacing cardboard cards, amid added arising customer and cultural trends.
Crucial quote: “It’s afterlife by a thousand emojis,” said Columbia Business School assistant Mark Cohen, who leads retail studies there. Critics say that Americans now adopt to accelerate argument letters or column on amusing media to admire appropriate occasions, instead of commitment alone greeting cards.
Big number: 13%. That’s how abundant U.S. greeting agenda sales accept collapsed over the accomplished bristles years, according to the WSJ, admitting affairs in sales of $4.5 billion in 2019.
Key background: Founded in 1910 and headquartered in Kansas City, Missouri, Hallmark is still endemic by the Hall ancestors and generates $4 billion in anniversary revenue. The aggregation broadcast its business backing over the decades, and now counts Crown Media Networks—parent of the titular Hallmark Channel, as able-bodied as kids’ art accumulation behemothic Crayola—among its ventures. Schurman Brands was founded in 1950 in Goodlettsville, Tennessee, by Marcel and Magrit Schurman. Papyrus began as an importer of accomplished European cardboard articles afore accretion into allowance wrap, notepaper and greeting cards. At its height, Papyrus operated added than 500 stores.
Tangent: Another adversary in the greeting agenda space? Robots. Companies like Handwrytten, Scribeless and LetterBot use robots to carbon animal autography on greeting cards.
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