Many marketers dream of the kind of success that Disney has experienced from sales of goods relating to its hit film Frozen.
In the UK alone, sales from Elsa, Ana and Olaf merchandise are approaching £35 million.
Walt Disney has just released its latest figures, in what it has described as an “incredibly strong quarter”, whereby revenues were up nine per cent, and net income rose by 19 per cent.
The company’s consumer products division reported a 22 per cent rise in sales, with Frozen toys selling particularly well.
While few companies can hope for the financial backing and global exposure that Disney enjoys, there are certainly lessons to be learnt from its success, according to Anton Dominique of the London School of Marketing.
He believes restricting stock can be a particularly powerful way of generating interest in an item, as stores selling Frozen merchandise were forced to introduce caps on the amount that customers were allowed to buy in a single transaction at certain outlets.
The Disney Store, for instance, limited customers to buying just two Frozen toys per person.
While the restrictions were initially introduced due to a genuine lack of stock, Disney recognised it was creating even greater demand. So much so, that the company is now controlling the delivery of new toys in order to generate more hype.
Many companies employ this tactic, and it is certainly worth considering. After all, the harder it is to get hold of a product, the more desirable it is.
It wasn’t just Disney that benefited from the success of the film though; Poundworld introduced hundreds of Frozen-themed products and those who couldn’t get the real deal went there.
This generated great publicity for the discount store and is a great example of how it pays to research trends in the consumer goods market. Once you can establish music, films and technology that have caught the zeitgeist, you can work out how to use it to your company’s advantage.