Why Greeting Cards Are So Expensive
With Valentine's Day 2017 now a thing of the past you may have hoped for something more than just a Valentine's Day card. But with many greeting cards approaching $10 a piece (postage not included), you should consider it a pretty nice gift. The prices of greeting cards have steadily increased from an average of $2.50 in 2010 to $4.50 today and the trend appears to be continuing an upward swing. Like much of the business world, social media is partly to blame, with many birthdays anniversaries, birth and retirement greetings once marked with a card are now done on a Facebook post, text or email. That has prompted greeting card makers to offer more premium cards at a higher price to cover lost revenue. But also keep in mind that card manufacturers Hallmark and American Greeting account for 82% of the market and with that control, price is easily fixed with less competition. Perhaps it is true that the once discarded paper greeting card is now the gift itself in an increasingly electronic world.
SOURCE: CBS Minnesota (WARNING: Autoplay)