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Companies in this industry operate physical retail stores specializing in gifts, novelty items, greeting cards, and souvenirs. Major US companies include Disney Stores (a division of The Walt Disney Company), Hallmark, Schurman Retail Group, and Spencer Gifts (all based in the US), as well as Card Factory (UK), kikki.K (Australia), and NBC Japan (Singapore).
Countries with growing middle-class populations, such as India, are emerging markets for gift retailers. Some major US gift retailers also operate outside of the US via franchises or company-owned locations.
The US gift, novelty, and souvenir store industry includes about 24,000 stores with combined annual revenue of about $17 billion.
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 one-third of sales.
Gift stores compete with a wide range of businesses because they stock merchandise across many categories. Major competitors include mass merchandisers, department stores, Internet retailers, home shopping channels, warehouse clubs, and toy stores.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products sold by gift stores include souvenirs and novelty items (30% of sales), seasonal decorations (12%), greeting cards (10%), and giftware (5%). Novelty items include ...
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