Kinnerton’s Rachel Wyatt on how licensors and licensees need to plan to adapt.
The retail landscape is ever-changing and that has probably never been more evident than now, and for licensees this presents a whole new set of challenges.
The Source asked some key names how they see the future of licensed product at retail and where potential further growth could come from.
Today: Rachel Wyatt, brand and licensing director, Kinnerton
“I think there has been a monumental shift at retail and with consumers when it comes to licensed merchandise. The landscape is changing, has changed and will continue to change – consumers shop differently, they shop more frequently in a wider range of bricks and mortar retailers, but also much more online.
Retail is tough and if you are a buyer responsible for a sizeable P&L you want to buy safe; you want to guarantee the range you put on shelf will be shopped and sell through.
Confectionery is an impulse category so we rely on traditional retail – but it is just that, traditional. We are a business founded on licensing… our position is optimistically nervous. We look at our strategy annually, review and adapt, and are always looking to the future, but there is an obvious change that both licensors and licensees need to look realistically at and plan to adapt.”