Gift, Novelty & Souvenir Stores
Brief Excerpt from Industry Overview Chapter:
Companies in this industry operate physical retail stores specializing in gifts, novelty items, greeting cards, and souvenirs. Major companies include Disney Stores (a division of The Walt Disney Company), Hallmark, Schurman Retail Group (aka Papyrus), and Spencer's (all based in the US), as well as Card Factory (UK), kikki K (Australia), and NBC Stationery & Gifts (Singapore).
Consumer spending, special occasions, and tourist travel drive demand. The profitability of individual companies depends on effective merchandising and the ability to generate store traffic. Large companies have advantages in purchasing, distribution, and marketing. Small companies can compete effectively by selling specialty products, providing superior service, or delivering a unique customer experience. The US industry is fragmented: the top 50 companies account for about 40% of sales.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products sold by gift stores include souvenirs and novelty items (about 90% of sales), seasonal decorations (4%), greeting cards (4%), and gift cards (2%). Novelty items include gift baskets and pre-filled balloons. Seasonal decorations include decorative cups, plates, and napkins. Gift stores may also sell home accessories and provide services such as gift-wrapping and delivery.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook