Tools commonly used in the Novelties (Wholesale) industry for day-to-day tasks and operations.

• Inventory management software
• Order management software
• Shipping and logistics software
• Barcode scanners
• Pallet jacks
• Hand trucks
• Packaging materials (boxes, tape, bubble wrap, etc.)
• Label printers
• Pricing guns
• Point-of-sale systems

Common products and services typical of NAICS Code 424990-63, illustrating the main business activities and contributions to the market.

• Party favors
• Novelty toys
• Costume accessories
• Seasonal decorations
• Gag gifts
• Prizes and giveaways
• Inflatable toys
• Glow-in-the-dark items
• Novelty hats
• Fake mustaches

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• ASTM F963: This certification is required for toys and children's products to ensure that they meet safety standards. The certification is provided by the American Society for Testing and Materials (ASTM).
• CPSIA: The Consumer Product Safety Improvement Act (CPSIA) is a federal law that requires all children's products to be tested for safety. The certification is provided by the Consumer Product Safety Commission (CPSC).
• FCC Part 15: This certification is required for electronic devices to ensure that they do not interfere with other electronic devices. The certification is provided by the Federal Communications Commission (FCC).
• UL Listing: This certification is required for electrical products to ensure that they meet safety standards. The certification is provided by Underwriters Laboratories (UL).
• ISO 9001: This certification is a quality management system that ensures that a company's products and services meet customer and regulatory requirements. The certification is provided by the International Organization for Standardization (ISO).

A concise historical narrative of NAICS Code 424990-63 covering global milestones and recent developments within the United States.

• The "Novelties (Wholesale)" industry has a long history dating back to the 19th century when the first novelty items were produced in Europe. These items were initially made by hand and were sold in small quantities. However, with the advent of mass production techniques, the industry grew rapidly, and by the early 20th century, it had become a significant player in the global economy. In the United States, the industry experienced a boom in the 1950s and 1960s, with the introduction of new materials and manufacturing techniques. This led to the production of a wide range of novelty items, including toys, games, and other items that were popular with children and adults alike. In recent years, the industry has continued to evolve, with the introduction of new technologies and materials, such as 3D printing and biodegradable plastics, driving innovation and growth.

The anticipated future trajectory of the NAICS 424990-63 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Novelties (Wholesale) industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for novelty items in the corporate and promotional gifting sector. The rise of e-commerce platforms has also made it easier for wholesalers to reach a wider audience and expand their customer base. Additionally, the industry is expected to benefit from the growing trend of customization and personalization of products. However, the industry may face challenges due to the increasing competition from low-cost imports and the rising cost of raw materials and labor.

Recent groundbreaking advancements and milestones in the Novelties (Wholesale) industry, reflecting notable innovations that have reshaped its landscape.

• Personalized Novelty Items: Wholesalers are now offering personalized novelty items such as mugs, keychains, and phone cases, which are in high demand in the corporate gifting sector.
• Eco-Friendly Novelties: With the increasing focus on sustainability, wholesalers are now offering eco-friendly novelty items such as reusable bags, bamboo utensils, and recycled paper products.
• Tech-Enabled Novelties: Wholesalers are now incorporating technology into novelty items such as Bluetooth speakers, wireless chargers, and smart home devices.
• Novelty Subscription Boxes: Wholesalers are now offering subscription boxes that contain a variety of novelty items, which are popular among consumers who enjoy receiving surprise gifts.
• Virtual Reality Novelties: Wholesalers are now offering virtual reality novelty items such as VR headsets and 360-degree cameras, which are gaining popularity among tech-savvy consumers.