Analysts say many Americans have given up sending cards and are going with digital alternatives.
Author: TEGNA
Papyrus is closing its 254 greeting card and stationery stores nationwide, with most of them coming in the next four-to-six weeks, according to USA TODAY. It will put roughly 1,400 employees out of work.
A bold pink and white banner on the top of the Papryus website announced a 20% off sale on all full-priced items, with all sales final.
The chain was founded 70 years ago.
Analysts say many Americans have given up sending cards and are going with digital alternatives, according to USA TODAY. They also send fewer cards between major holidays.
Real estate firm CoStar Group reportedly said retail space by greeting card stores declined 27% between 2013 and 2018.
That’s not to say the greeting card industry is dead. The Greeting Card Association reportedly says Americans bought 6.5 billion greeting cards last year.
