Greeting Card Industry Market Analysis
Birthdays, holidays, congratulations, thank you, weddings, sympathy, get well soon, or simply no reason at all. These are just a few of the multitudes of reasons and occasions for which one might decide to send a greeting card. The average person in the United States will receive 20 greeting cards per year, one-third of which are birthday related greetings (GCA). The American greeting card industry has been in existence since the late 1800’s and has involved into a highly profitable sector of the retail sales world consisting of countless competitors both big and small. As a whole, the United States card market is a $7.5 billion industry that has unfortunately seen flat to slightly declining growth over the past five years (USA Today). This market analysis of the United States greeting card industry will focus on key industry players, the customers, historical perspectives of the industry, financials, and marketing channels.
Customer Analysis
Nearly two-thirds of all American adults have purchased a greeting card at one time or another in their life whether it be a special occasion or non-occasion card (Market Research). According to the Greeting Card Association, approximately 80% of all greeting cards are purchased by women (The Greeting Card: General Facts, 2008) in the 35-65 year old age range whose household contains at least one person holding a steady job (Market Research). To speak more in depth regarding the common greeting card purchaser, average age of purchaser is 41.9 years old with an average household income of $63,600 (findarticles). The remainder of the cards are obviously being purchased by men, particularly those of Hispanic descent (Market Research). An interesting fact to mention is that even though women are more likely to purchase more cards at one time than men, a man is more likely to spend more on a single card than a woman (GCA).
According to the Greeting Card Association, the US greeting card industry is most often segmented
Customer Analysis
Nearly two-thirds of all American adults have purchased a greeting card at one time or another in their life whether it be a special occasion or non-occasion card (Market Research). According to the Greeting Card Association, approximately 80% of all greeting cards are purchased by women (The Greeting Card: General Facts, 2008) in the 35-65 year old age range whose household contains at least one person holding a steady job (Market Research). To speak more in depth regarding the common greeting card purchaser, average age of purchaser is 41.9 years old with an average household income of $63,600 (findarticles). The remainder of the cards are obviously being purchased by men, particularly those of Hispanic descent (Market Research). An interesting fact to mention is that even though women are more likely to purchase more cards at one time than men, a man is more likely to spend more on a single card than a woman (GCA).
According to the Greeting Card Association, the US greeting card industry is most often segmented