39_41_43_45_47_49__Retail Barometer.qxp_Grid 19/01/2024 19:35 Page 1
PG Retail Barometer
SUNSHINE...
Inset: The business climate has improved for indies, but they still need to be prepared for inclement weather!
...AND SHOWERS While the last year’s trading was not sparkling for all indie card retailers, there are certainly more encouraging signs than in many years gone by, with 55% setting their sights on growth in 2024. A strong ‘shop local’ rally call, Christmas card sending back on the up and an average spend increase saw almost half of PG Retail Barometer respondents report business growth in 2023, while roughly a third held the line on the year previous. PG delved into the findings of the only annual survey into the health and wealth of the independent greeting card retailer to find out more about the boons and banes of the last year’s trade as well as areas highlighted as potential to be realised. How Was Business 2023 v 2022?
24% Worse
47% Better
29% Same
The PG Retail Barometer is an annual survey of independent greeting card retailers. This latest survey includes both independent retailers who are Cardgains members (accounting for around 1,000 rooftops) as well as those who are not a member of the buying group. All surveys were completed by 10 January 2024.
What happened to the average spend per customer 3% Declined Significantly
2% Increased Slightly
18% Declined
65% Increased Significantly
12% Remained The Same
Business Boons For the fourth year in succession, the ‘shop local’ drive has served indies well, cited as having been the biggest boon to their trade in the last 12 months. Broadening their selection of gifts came up trumps for many respondents, knocking greeting cards off the second slot as having made the most positive contribution to their trade in the last year. That said, greeting cards were not far behind in third position, continuing to hold their own as a very relevant and tangible way of communicating with loved ones with almost a third of respondents believing that the consumer’s appreciation of greeting cards grew over the last year, and that’s on the back of the Covid years when they saw a huge jump up. Engagement with customers through social media as well as other promotional activities also made a big difference to an indie’s trade.
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How Has Your Business Fared Over The Last Year? PG looks back at the last eight years of PG’s Retail Barometer data. 2023 v 2022 47% Better 29% Same 24% Worse
2022 v 2021 44% Better 32% Same 24% Worse
2021 v 2020 65% Better 22% Same 13% Worse
2020 v 2019 19% Better 16% Same 65% Worse
2019 v 2018 31% Better 38% Same 31% Worse
2018 v 2017 37% Better 31% Same 32% Worse
2017 v 2016 38% Better 27% Same 35% Worse
2016 v 2015 30% Better 38% Same 32% Worse
PROGRESSIVE GREETINGS WORLDWIDE 39
