The highly seasonal greeting card industry is transitioning into the digital age.
Given that greeting card sales are so reliant on seasonal fluctuations in demand, you might be surprised to learn that the industry brings in around seven billion dollars annually in the US alone. The lion’s share of this revenue can be attributed to entrenched megaliths like Hallmark and the American Greetings Corporation (AGC).
Like others in the publishing space, greeting card companies have been hit hard by the rise of digital media. Though Americans still send an average of 25-30 greeting cards per year, the cache of a once personal tradition has been eroded by the immediacy and ease of e-cards and the overabundance of pre-written drug store stock. Hallmark’s revenue shrunk by 5% from 2012 to 2014, while AGC has failed to expand its own market share — despite restructuring and a 2013 privatization.