By Jessica Blue
In the ever-competitive retail landscape, how do you stay relevant to consumers? How do you stay ahead of the competition?
Here are three reasons why retailers consistently turn to licensing to drive sales and revenue. Need a little more background on licensing? Click here.
1. Open the door to revenue growth.
Global retail sales of licensed goods totaled $251.7 billion in 2015.* The U.S. is the leading country in the sale of licensed goods, accounting for $138 billion of that revenue. So it’s no surprise that top retailers like Amazon.com, Toys ‘R’ Us and Target attend Licensing Expo, the largest licensing tradeshow in the world, to capture their share of this growing industry.
While some retailers operate under direct-to-retail agreements for licensing, there are other options available, based on your needs and the level of risk each party is willing to take on. Learn about the three main types of agreements in The Basics of a Licensing Deal guide.
*Source: LIMA Global Licensing Industry Survey 2015 Report
2. Differentiate your product offerings.
Licensing agreements allow you to stock your shelves with products featuring the characters and brands that consumers love.
Capsules, collaborations, limited editions and other types of limited licensing agreements can make your products even more exclusive and in-demand. You can learn more about these types of agreements at Licensing University, more than 25 educational seminars presented by the International Licensing Industry Merchandisers’ Association (LIMA) at Licensing Expo.
Licensing Expo is the only place you can meet 5,000 brands from all categories and all around the world. Exhibitors for 2017 include: Scott Living/The Scott Brothers, Coca-Cola Licensing, Bigfoot 4x4, FAO Schwarz, Sony Music Brands Group, Jack Daniel’s, Hang Ten, Amazon Studios, Nintendo of America Inc., Merch by Amazon and more. You can secure meetings with brand owners in Las Vegas by using the Licensing Expo Matchmaking Service – free to retailers attending Licensing Expo. Learn about Matchmaking Service.
3. Stay ahead of the competition.
Licensing the newest brands and characters for your products keeps shelves fresh and on trend. New properties are constantly breaking into the market, and licensing gives you fast access to get those hot properties in your stores and in consumers’ hands.
At Licensing Expo, you can see which brands and characters will be in demand in the next 18-24 months so you can start planning.
How to jumpstart your licensing program
Licensing Expo is where thousands of brand owners and retailers alike have launched and developed their licensing programs. It takes place May 23-25, 2017 at the Mandalay Bay Convention Center in Las Vegas, NV. Register for free here.
Plus, the all-new Licensing Week (May 22-25, 2017) brings together the best networking, educational and deal-making events surrounding Licensing Expo. Licensing Week includes an Orientation Breakfast for new attendees and exhibitors, more than 25 Licensing University educational seminars, and invitation-only Entertainment Showcases presented by Mattel, NBCUniversal and more. View the full schedule here.
Images copyright and courtesy of Licensing Expo