Greeting card companies need a sympathy note.

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.

Now, major retailers, including CVS and Walmart, are poised to cut back on cards, and greeting card companies have closed hundreds of standalone locations.

To be sure, there are encouraging signs in some parts of the business, including premium cards that cost more than $10, budget cards that cost less than $1 and personalized options. 

But 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 in category