With the terrible economic downturn affecting us all, we've noticed increased marketing efforts aimed at saving money for everything from cars to computers and fast food. Hallmark is now introducing 99-cent cards boosted as inexpensive "feel-good" ways to help ease the anxiety of a troubled economy.
I wonder if Hallmark employees would receive these same cards if they were to lose their job?
Implications - Hallmark says that they would still like to remain "relevant" even though people are concerned with trying to save their money. The company explains that by creating cards that are 99 cents they hope to remind consumers that a lot of emotion is attached to sending and receiving cards.
Recession-Friendly Greeting Cards
Hallmark Wants You to Feel Better for Under a Dollar
Trend Themes
1. Recession-friendly Cards - Hallmark's 99-cent cards show an opportunity to create other recession-friendly products.
2. Emotional Attachments - Focusing on the emotional attachment of gift giving shows disruptive innovation opportunities for the gift industry.
3. Affordable Luxury Items - Introducing feel-good items that are affordable shows disruptive innovation opportunities for the luxury industry.
Industry Implications
1. Greeting Cards - The greeting card industry can innovate further on creating affordable yet emotionally impactful products.
2. Gifts - The gift industry can focus on the emotional attachment of gift giving to create unique products for customers.
3. Luxury Goods - Luxury brands can look towards creating affordable products while still maintaining their brand identity.