LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global gifts, novelty, and souvenirs market report. This research report also lists 14 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The global gifts, novelty, and souvenirs market is fragmented with a few global and many local players. Some of the major players include Hallmark, Walt Disney, American Greetings, Card Factory, and Spencer Gifts. These companies sell gifts, novelty, and souvenir products through their brick-and-mortar stores as well as through their own and third-party online portals. Among these, Hallmark, Walt Disney, American Greetings, and Spencer Gifts are based in North America, whereas Card Factory is a European retailer.
According to Brijesh Kumar Choubey, a lead analyst at Technavio for retail goods and services research, “A number of large as well as local gift, novelty, and souvenir product manufacturers and retailers fall into the organized and unorganized sections of the market. Vendors compete on the basis of parameters such as product personalization, premiumization, differentiation, and pricing. The entry of new players and private labels will further intensify competition, leading to price wars and overall degradation of quality, which will affect the market negatively.”
The report also emphasizes the competition vendors are facing from multi-channel retailers, some of whom operate on lower cost structures. With the growth of Internet penetration, customers increasingly use computers, tablets, smartphones, and other digital devices to shop online and compare prices and products. Inability to adapt to the changing competitive landscape could affect the profitability, margins, and demand for the products. So, major players are shifting to omni-channel retail strategies to adapt to the changing competitive landscape. Vendors must diversify their product lines and enter niche markets to combat this challenge.
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Top five global gifts, novelty, and souvenirs market vendors
American Greetings was established in 1906 and is headquartered in Ohio, US. The company manufactures and distributes greeting cards in the US, Canada, the UK, New Zealand, and Australia. In 2015, the company operated 412 card and retail gift stores throughout the UK. It reported revenue of USD 2.01 billion in FY2015. As of February 28, 2015, it had 6,900 employees.
On June 7, 2012 American Greetings announces the acquisition of Clinton Cards, which operates a chain of stores in the UK.
Card Factory was established in 1997 and is headquartered in West Yorkshire, England. The company, along with its subsidiaries, operates as a specialty greeting cards retailer in the UK. It designs, produces, and sells greeting cards and other gift items. The company operates more than 764 stores in the UK. It also sells products through its website Gettingpersonal.co.uk. In FY2015, the company reported revenue of USD 578.8 million.
Hallmark was founded in 1910 and is headquartered in Kansas City, Missouri, US. The company manufactures and sells greeting cards, ornaments, and gifts. It serves customers through its stores in the US and around the world. It also sells its products through its online store and other online retailers. In FY2015, the company reported USD 3.7 billion in revenue. It sells its products in more than 30,000 retail outlets in the US.
Hallmarks sells 10,000 redesigned and new cards every year. It has more than 49,000 different products. It distributes products in more than 30,000 retail outlets that include 2,250 Hallmark Gold Crown stores. It has distribution and production facilities in Texas, Connecticut, Kansas, Missouri, and Illinois in the US. It sells products in 100 countries in 30 languages.
Spencer Gifts was founded in 1947 and is headquartered in New Jersey, US. The company operates as a lifestyle retailer in the US and Canada. It sells its products through physical and online stores. It operates more than 650 stores in the US and Canada and sells its products through the Spencer's and Spirit Halloween brands.
The Walt Disney Company was founded in 1923 and is headquartered in California, US. The company operates as an entertainment company. In FY2015, it reported USD 52.46 billion in revenue. As of October 2015, the company had 185,000 employees.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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