Is the greeting card industry declining?

The greeting card industry is shifting rather than collapsing. Unit volume has slipped, but the value of each card sold is climbing as buyers trade up.

• Volume down: annual purchases fell from about 7 billion to 6.5 billion over the past two decades.
• Value up: revenue per card is rising as consumers choose premium and personalized options.
• Fragmenting, not failing: demand is moving toward custom and indie designs.

So the headline decline in units masks a healthier picture: fewer cards, but higher-value ones.