🎈Michaels jumps in after Party City's demise to fill void for festive balloons🎈
Party City, you will be missed. But, Michaels is stepping in quickly to fill the void.
Michaels, the crafting supplies chain, said it is significantly ramping up its balloon offerings and party supplies, two of Party City’s most-popular sellers.
Party City, which struggled with bankruptcy, tougher competition and other serious challenges to its business, announced in December that it was going out of business after nearly 40 years.
The retailer’s more than 700 stores were high-traffic destinations for balloon purchases, Halloween costumes and decorations for gatherings such as birthdays, viewing parties for major sporting events, holidays and other milestone life moments.
But Party City’s demise has turned into a boon for Michaels.
Michaels, which operates more than 1,300 stores and its online business, said searches for balloons have surged 150% on its website since the beginning of the year, while balloon sales have jumped 195%.
In response to spiking balloon demand, Michaels announced on Tuesday that it has vastly expanded its balloon selection to more than 300 new options. These include pre-made balloons, grab-and-go balloon bouquets, shimmering Mylar balloons in fun shapes to life-size character balloons.
The retailer said it will also expand its kids' licensed balloons and animated characters.
Separately, Michaels is doubling down on selling more party supplies. The retailer told Bagable.com that searches for party supplies have surged 155% on its website.
To cater to this heightened demand, it said the company will expand its party products by 200% beginning in August, with more than 500 new products added to the category across supplies, accessories and décor.
"We’ve seen growing demand from customers who are turning to Michaels not only for supplies, but for everything they need to bring their celebrations to life,” Stacey Shively, chief merchandising officer with Michaels, told Bagable.com in a statement.
“We’re building a true one-stop shop for every kind of celebration from birthdays and baby showers to graduations and casual get-togethers – so customers can count on Michaels to help make every celebration memorable,” Shively said.