Now, major retailers, including CVS and Walmart, are poised to cut back on cards, and greeting card companies have closed hundreds of standalone locations. Why did they make this decision?
Kevin Hourican, president of CVS Pharmacy, told USA TODAY in an interview that the company has too much aisle space devoted to greeting cards. He said the retailer, which has some 9,600 locations, is shifting more space to health care products after determining that greeting cards are not selling well, using an internal analytics tool.
“More and more people are using text and email and e-cards, and fewer people are buying cards, so that would be one area” where the company expects to cut back, Hourican said.
Walmart is “reimagining what we’re putting” in stores, said the company's U.S. CEO, Gregory Foran. “Do we really need the amount of lineal footage that we've got in greeting cards?” he said on a conference call earlier this month.
In a word, the reason is Many people are giving up cards in favor of digital alternatives or are simply sending fewer cards between major holidays like Christmas and Valentine’s Day.Christmas and Valentine’s Day are the most important holidays for card sell.