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Companies in this industry operate physical retail stores specializing in gifts, novelty items, and souvenirs. Major US companies include Disney Stores (a division of The Walt Disney Company), Hallmark, and Spencer Gifts.
The US gift, novelty, and souvenir store industry includes about 30,000 stores with combined annual revenue of about $17 billion. Low growth is forecast for the next two years. Key growth challenges include competition from other retailers and dependence on consumer spending.
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 30 percent 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 percent of sales), seasonal decorations (12 percent), greeting cards (10 percent), and giftware (5 percent). Novelty items include gift baskets and pre-filled balloons. Seasonal decorations include decorative cups, plates, and napkins. Giftware includes glassware and vases. Gift stores may also sell home accessories ...
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