Stor’s Valentin Ortiz on how licensed promotions continue to bring consumers into retail.
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: Valentin Ortiz, ceo of Stor.
“In our industry raw prices have increased hugely – around 15%-20% – during the pandemic with no signs of them reducing. The current factors are more related to electricity, water supplies, etc… that we have not passed to customers though if the situation continues past Q4 we will need to impose price rises.
We have been in the industry for 53 years and have to say that licensing is a security space during a time of crisis. Throughout 2021 and 2022 our sales actually showed growth. Licensed promotions bring consumers into retail and going by our current figures we have a positive view for 2023.”
This feature originally appeared in the autumn 2022 edition of Licensing Source Book. To read the full publication, click on this link.
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