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State of the Nation
Steady As She Goes ‘Adjusting the Sails’ was the title of the State of the Nation article in last year’s PG February edition. Having emerged from the last remnants of the Covid legacy, most were cautiously optimistic about the industry’s prospects this time last year. So, fast forward 12 months, and the industry is doing OK. The public spent £1.5 billion on everyday cards; the GCA’s Cardmitment campaign not only pulled everyone together, but also helped to drive Christmas card sales back up; there has been no major casualty since Paperchase at the start of last year and many retailers are expanding again.
Inset: 2024 won’t all be plain sailing for the industry, but it is resilient enough to weather choppy waters. Below: Cardfactory’s strong financial performance is an indicator of an industry ‘thumbs up’ to how much the public love sending cards. Below middle: The GCA Cardmitment campaign was a triumph in reminding everyone of the joys of sending and receiving cards. Bottom: Despite the cost-of-living crisis, the GCA UK Greeting Card Market Report showed that there was only a very small drop in volume and value.
Looking at the macro picture, the general economic situation in the last year was not great. Economic growth flatlined, and inflation hit double digits early in the year, necessitating multiple interest rate rises. The cost-of-living crisis became very real for millions of British families. The international situation was (and still is) in turmoil, with the ongoing Ukrainian conflict and the escalating hostilities that broke out in the Middle East last October. Looking at the general retail scene, 10,500 shops closed in 2023. Not good, but better than the 17,000 CARDS D that disappeared in 2022. MAK E It was a final nail in the PE OPL L E coffin for Paperchase as a HAP P Y high street name (although (It’s a fact). the brand lives on in Tesco).
The demise left a nasty taste in the mouth of many suppliers who were left high and dry nursing big losses, but it did spark some opportunities for others. Most notable of these was Postmark, whose bold move to double the size of its estate, committing to take on #cardmitment send a card, deliver a smile several of Paperchase’s station sites as well as other high profile units, including in Battersea Power Station and Glasgow, has paid off, and is good news for its suppliers. Other leading indies, including Between the Lines, Lark and Paper Tiger also expanded, while on the multiple front WHSmith and Ryman courted the Paperchase £pound with the unveiling of their Curi-o-city and Ryman Design respective retail concepts.
The giving and receiving of o greeting cards has been provenn to deepen relationships, build b meaningful connections andd help promote our mental health and wellbeing.
Go on... make your #cardmitment to make someone’s dayy Visit www.gca.cards/cardm mitment to find out more
PROGRESSIVE GREETINGS WORLDWIDE 51
