Dive Brief:
- Walgreens is expanding its party supply lineup in stores and online, the drugstore chain announced Tuesday.
- The retailer now has dedicated in-store space for party supplies, with nearly five times more products than before. Some of the retailer’s party items are also available for 30-minute pickup or 1-hour delivery.
- The expanded assortment includes helium balloons, cake toppers, party plates, napkins, banners, foil backdrops and decorative centerpieces. The new items start at $1.99, per the press release.
Dive Insight:
Walgreens may snap up share in the party goods market following the closure of Party City.
“For years, shoppers have relied on Walgreens for seasonal confections and gifts, custom photo invitations and decor, greeting cards and giftwrap,” Marty Esarte, group vice president and general merchandise manager of confections, celebrations and seasonal at Walgreens, said in a statement. “By adding even more party supplies and decor options, we’re here to help customers celebrate – no matter the season, occasion or everyday moment.”
Last December, Party City filed for Chapter 11 bankruptcy a second time after doing so first in January 2023. The retailer then announced the closure of its nearly 700 locations. Party City’s intellectual property and wholesale operations were later acquired by an affiliate of Ad Populum for $20 million.
Michaels has also recently grown its assortment of balloons and other party supplies. The craft retailer also expanded in-store events for kids and adults, including private gatherings, birthday parties and crafting activities.
Private equity firm Sycamore Partners recently took Walgreens private in a $10 billion deal. Walgreens’ subsidiaries, including Shields Health Solutions, CareCentrix and VillageMD, as well as The Boots Group, now all run as stand-alone companies.