Gift Shops & Card Stores in the US - Industry Market Research Report

Gift Shops & Card Stores in the US - Industry Market Research Report

Gift Shops & Card Stores in the US

Retailing a range of gifts, souvenirs, greeting cards and other items, gift shops and card stores have benefited from rising incomes in recent years as consumers spent freely on vacations and celebrations. But, when COVID-19 shut down tourism and celebrations, gift shops and card stores were left empty, creating long-lasting financial and operational challenges. A travel slump through early-2021 left tourism-based shops struggling, as sales stayed a fraction of what they were in 2019. Yet, long periods at home left consumers with savings and pent-up demand to spend on vacations as travel restrictions lifted. While enormous demand for travel led more consumers to gift shops in late-2021 through 2022, supply chain disruptions and labor shortages made it difficult for retailers to recover from the pandemic's toll. Recession risks and inflation pressures in 2023 introduce a new threat, as financial concerns will cause some consumers to rethink vacation spending. The recent travel boom has led industry-wide revenue to rise at a CAGR of 0.4% over the past five years – totaling an estimated $25.1 billion in 2023 – when revenue will increase an expected 1.2%.

The Gift Shops and Card Stores industry retails a range of gifts, gift wrap, novelty merchandise, souvenirs, greeting cards, party supplies and seasonal and holiday decorations. This industry excludes retailers that operate as used merchandise stores, electronic shopping, mail-order houses and discount retail stores.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.