I recently went to buy a birthday card, I got to the cash and I was in shock. $8.99 for a piece of card stock with some pretty writing. I feel as though greeting cards have shot up in price within the last decade So it begs to ask the question, why did greeting cards become so expensive?
As technology and social media continue to take over our society, it has done a number on the greeting card industry. Many people will send a text or an e-card to give their well wishes. Due to this, it has caused a decrease in greeting card sales, which has created an inflation in greeting card prices. A study has been done about this exact topic, where it reports that greeting card companies are increasing their prices due to people buying fewer cards.
In addition to this, the large greeting card companies are monopolizing the industry and basically, create their own pricing. In Canada and the United States, American Greeting and Hallmark make up approximately 75-85% of the greeting card market. Because there is such a monopolization, these companies are taking the lead on pricing greeting cards, where everyone else follows suit.
With the lack of greeting card purchasing, the companies have decided to make cards more of a 'luxury' item in the sense that they are using thicker card stock, using decorative pieces like foil, and adding music. By adding these elements to cards, it increases the company’s expenses, which results in hiring the prices for consumers.
Source: CBS Minnesota