It seems the greeting card business is in trouble. Papyrus is closing 254 of its US and Canada stores after its parent company filed for bankruptcy. Many companies are filing bankruptcy saying the reason is “the general downturn in the brick-and-mortar retail industry.”
Now, about 16 Hallmark stores are closing in the United States. One Hallmark store owner blames social media for the decline of the greeting card business. Younger generations don’t typically purchase cards. Others flock to cheaper locations like the dollar store for cards.
One Hallmark store owner, Rich Schauer, said, “It’s just not a viable business any longer. People used to buy and send cards all the time. It’s all online now. Everyone celebrates their birthdays on social media.”
RELATED: Papyrus, American Greetings Card Store, Closes Down Stores After Lowered Demand
Around 2,000 Hallmark locations are privately owned, so the owners can decide when to close doors. A statement read, “Difficult lease negotiations, slowing sales during economic slumps, and changes in the trade area can challenge profitability and lead to a decision to sell or close any store, independent or corporately owned.”
While many stores also sell gifts and other items, consumers typically think of Hallmark as a greeting card store. They even compete with online businesses such as Postable. On Postable, you can purchase a card, write a message and have the website mail it for you. This service is often cheaper than expensive cards at Hallmark and other locations.
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