ToyTopic’s Ashley Holman on why offering value for money on ranges is now crucial.
With inflation now at over 10%, energy costs and food bills sky rocketing, the cost of living crisis is intensifying.
LicensingSource.net asked a selection of licensees what impact this is likely to have on the licensing industry, as well as what positives the sector has in its favour in the run up to Q4.
Today: Ashley Holman, md, ToyTopic Group.
“Invariably as the crisis deepens as we enter winter and the all-important Christmas trading period, the vast majority of the population will simply have less disposable income to spend on things like licensed toys.
People will therefore naturally trade down price points, look for discounts even more and reduce their overall spend accordingly. It has always been important to show value for money in the ranges offered, but it will be crucial now for sure.
Big ticket items such as house moves, new cars, holidays are normally the first things people reduce down spend on and the hope is that people will continue smaller purchases to bring a little joy at an otherwise gloomy time period. By offering exciting brands at a value proposition we hope to continue to succeed the back half of this year.”