CNBC – the business arm of global news and entertainment company NBC – has taken an in-depth look at US retailer Party City and how it hopes to survive the age of the internet.
It begins by looking briefly at how the party industry has changed over the last decade, with Party City ceo James Harrison saying that the biggest change in the business has been the ‘development of wearables’. By that, he means everything from glasses and masks to photo props and costumes.
As the retailer’s most important season, Halloween accounts for 20 – 25% of Party City’s annual sales. The company said October’s sales were ‘disappointing’ for 2019, but it hopes to improve for next Halloween.
The news coverage also covered other challenges the company is facing, including a global helium shortage and changing consumer preferences.
The video segment can be seen in full here.
