Highlights of the Decade
By Staff -- Gifts & Decorative Accessories, 8/1/2007
The decade started out on a low note: the stock market crashed on Black Monday, October 19, 1987. The market was relatively quick to rally, but the economy went into a recession.
One of the more lasting effects of the crash was the change in the consumer. Time magazine noted, "In place of materialism, many Americans are embracing simpler pleasures and homier values. … What matters is having time for family and friends, rest and recreation, good deeds and spirituality." We entered into the age of "cocooning," and creating comfortable home environments became a priority, giving rise to a demand for decorative accessories.
The 1990s were also dubbed the "Decade of the Environment" with "Green Marketing" a focus. Then, as now, there was more awareness about the fragility of the world we live in. And Americans tried to make a difference in other ways — by doing good deeds as part of the "thousand points of light." This concept was embraced by manufacturer and retailer alike. Most notable of all, Gift for Life was formed in 1992 to raise funds for amfAR. "All of us in the industry have been affected by AIDS," explained founder Peter Schauben. "The time for us to respond is now."
We experienced a rise in patriotism and pride in American-made products as Americans went to war again — this time in the Persian Gulf. As quickly as we went to war, we brought the troops home again. Mission accomplished — or so we thought. And with confidence high again, environmental awareness became less of a priority.
Computer technology continued to advance at an increasingly rapid rate; the Internet not only added new competitors, but began changing the way we communicate and do business. In July 1996, G&DA asked, "Can Gift Retailers Shop the Internet?" and noted, "Electronic services are offered that not only allow consumer purchases, but that enable retailers to communicate with vendors" and provided a very modest sampling of available services.
In addition to decorative accessories, collectibles became one of the hottest categories, ultimately reaching a pinnacle with the Beanie Babies craze beginning in late 1996, a trend that eventually required Ty to have armed guards at its booth at gift shows to control the crowds.
As the decade wound down, we looked toward the millennium with anticipation.
