It's Barbie's world and consumers are living in it

For Barbie-maker Mattel Inc, there is much riding on the movie —
primarily reviving sales of Barbie dolls and accessories. Demand for all toys boomed during the pandemic, but the industry cooled as lockdown rules were lifted and inflation and economic malaise set in. But how well the movie does matters more broadly to the consumer sector. Mattel has struck partnership deals with more than 100 companies.

Aldo Group Inc’s shoe collection is the most wanted Barbie collaboration right now, according to Lyst.

Given that the Barbie bandwagon — or rather, the pink Chevrolet convertible — has been rolling into town since photos of Robbie and Gosling rollerblading on Venice Beach were leaked a year ago, it’s not surprising that companies want to get on board.

Quirky collaborations, such as with Crocs, whose own fun aesthetic blends well with Barbie’s, create a buzz. But there is a multiplier effect from Mattel and Warner Bros Discovery Inc’s huge marketing effort. That means more bang for your Barbie buck.

As companies try to navigate the culture wars, the movie has struck a sweet spot too.

There is something wholesome and nostalgic to Barbie, yet the feminist retelling makes her more relevant to today’s audiences. In her world, Barbie characters are presidents, doctors and lawyers. Ryan Gosling’s Ken, who still clings to dated gender norms, is relegated to the supporting role, flipping the usual Hollywood dynamic on its head.

The movie embraces diversity too, with Barbies of different skin colors and body shapes, as well as a transgender Barbie, reflecting the doll’s own evolution.

Yet Barbie and Ken are still archetypal male and female characters. So the movie is pushing boundaries but not too much to make brands uncomfortable, particularly in the wake of backlashes against Anheuser Busch InBev SA’s Bud Light over its collaboration with transgender influencer Dylan Mulvaney and Target Corp over its Pride Collection.

The products themselves bring excitement to retailers’ ranges. They’re a way to draw fans wanting a gingham pajama set or logoed bucket hat to stores or websites. While they are caught up in the movie-mania, they just might put a regular item in their basket too.

Special ranges are usually limited edition. And that’s a good thing, because while the aesthetic reigns supreme right now, this might be Barbiecore’s last hurrah.

Hot or “hyper” pink has already peaked, according to trend forecaster WGSN. Retailers have increased bright pink products this summer by 1 percentage point, compared with last year, it says. But more of these are being, with only 9 percent going out-of-stock at full price, below the clothing average of 13 percent.

While US inflation cooled sharply last month, offering fresh hope that the Federal Reserve can wrap up interest-rate hikes and avoid a recession, borrowing costs are set to remain elevated in Europe. The UK faces a mortgage time bomb.

That’s hardly the environment to see shoppers splashing out on exuberant fashions. Sober styles still look more in line with the consumer mood.

But for the next few weeks, it will be Barbie’s world and we will all be living in it.

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Views are personal and do not represent the stand of this publication.

Credit: Bloomberg