MV Sports’ Phil Ratcliffe on how licensed properties will be protected to a certain extent from the cost of living crisis impact.
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: Phil Ratcliffe, joint md, MV Sports.
“There is evidence to suggest that although parents cut back on discretionary expenditure during inflationary times the diminution is less when it comes to spending on their children.
Notwithstanding this there will be some reduction in expenditure as families tighten their collective belts.
Licences, especially classic properties, should be further protected as they inspire trust and confidence in consumers and the fact that licensed sales in certain sectors are at their highest percentage share in over a decade seems to support the theory.”