TOTAL LICENSING
Opinion
Economics? Child’s Play!
Estate agents may be nervous but Iggle Piggle has nothing to
fear. As Caroline Mickler explains, it will take a lot more than a
credit squeeze to undermine the market for licensedlicensed productsoducts forfor
children.
Parents do not easily
House prices are falling. Credit is be- to support us, even dur-
economise on gifts for
ing squeezed. The UK government is ing a modest economic
stepping in to help the banks. Is it 1991 downturn. Firstly, major
their children.
all over again? Will consumers stop retail is not suffering
It’s natural for
buying houses and cars? Will they cut in the same way as, say,
parents to sacrifice back on expensive holidays and high- property, cars or expen-
other things first. In
end electronic goods? More to the sive specialist outlets. You
the main they will cut
point, will they stop buying licensed can prove this by taking
back on their own
goods for their children? a walk down the King’s
I believe they won’t - for a number of Road. You may notice
comforts rather than
reasons. Firstly, and most importantly, many empty retail units,
ask their children to
parents do not easily economise on formerly occupied by in-
do without. gifts for their children. It’s natural for dependent stores. How-
This is probably bad
parents to sacrifice other things first. ever the bigger stores,
news for companies
In the main they will cut back on their whilst some are thriving
selling designer suits,
own comforts rather than ask their in the current climate,
children to do without. This is prob- are all at least within a
vintage wines and trips
ably bad news for companies selling few points of the per-
to Hawaii, but
designer suits, vintage wines and trips formance of a year ago.
common sense to Hawaii, but common sense suggests That’s not just a mat-
suggests that they will
that they will be the first items to go ter of their own brand
be the first items to
from the shopping list if belts are be- awareness, although the
ing tightened. majors have an obvious
go from the shopping
However, all this admirable self-denial advantage: few people
retail deals with character licenses or
list if belts are being
is not entirely down to love and af- need to see Harrods or John Lewis
brands will probably remain strong for
tightened.
fection. There’s also fear. Very few of to know what they are or why they
some time to come.
us want to face the wrath of our off- should shop there. They are estab-
But it’s too early to panic in any case.
spring when we try to explain why the lished, not just in their own geogra-
2008 is by no means 1991 – and most
latest branded top-seller is not among phies but in the consciousness of the
of us got through that period pretty
their birthday presents. Nor are kids mass market.
much unscathed. Let’s face it, for many
going to be fobbed off with alterna- The strength of those outlets is their
of us it would probably take a repeat
tives. It may seem obvious to the aver- diversity of output. That diversity
of 1929 to convince us to let the
age consumer that a lasting, loveable makes such stores extremely resil-
economy come between our child and
floppy toy is a more sensible econom- ient in times of economic stress. The
its favourite character.
ic choice than the all-singing, all-danc- customers and what they buy cover
For the licensing industry, of course,
ing plush that their kids will probably any number of bases or, to put it at its
that is partly a comment on our own
forget or lose within a year. However, most basic, one thing or another is al-
effectiveness. Licensed products have
that sort of rational consideration is ways being bought – and that includes never been so well researched and
hardly going to impress a modern, licensed goods. The majors still have designed as they are today - and of
market-savvy three-year old. the power to make a big enough im- course marketed. Consumer aware-
In short there may be a lot of possi- pact with licensed products to make it ness – by which I mean both children
ble discretionary purchases but it is worth their while stocking them. and parents – is greater than ever. It
always the products where the most Not only that but for many major stretches to even the youngest age
pressure is put on parents that are go- retailers a licensed product can offer groups.
ing to win through. And that, it goes a point of difference that stands out If we’ve learned one thing during
almost without saying, is to the benefit whatever the economic circumstanc- the past 17 years it’s effective mar-
of the licensing industry. es. Thus, for those of us in the licensing keting, no matter the economic cir-
And major retail outlets will continue business, opportunities to do exclusive cumstances.
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