Good Buys

The home goods industry struggled in 2022 after the robust sales of the lockdown era, and most observers expect that trend to continue into 2023. But licensing has been a bright spot lately, and new licensing deals continue to be forged at a regular pace. One notable current trend—not surprising given consumers’ concerns about inflation and declines in discretionary spending—is the focus on accessible pricing, with affordability called out as a key facet of many recent licensing deals in this category.

A few examples:

• Last month, Gibson introduced two lines focusing on value. First, it added a Kitchen Essentials range to its Sur La Table license, billed as having “approachable price points,” as well as bright colors and a fun sensibility. Products include a cast-iron pan, a cutlery set, a 10-piece aluminum cookware set, and more. In addition, Gibson has redesigned and repositioned its licensed Martha Stewart Everyday Collection of cookware and other items, with a purpose of offering “high-quality homewares to the value-conscious consumer.” (Martha Stewart and IP owner Marquee Brands also recently introduced a separate premium line of cookware and other kitchen items, Martha by Martha Stewart, initially through her website.)

• Paris Hilton, known for her life of luxury as an heiress, launched a housewares and kitchen line with Amazon in March, positioned as colorful, kitchy, and playful—heavy on pink, gold, and glitter—while also very functional. The initial 35 items include pots and pans, a coffee maker, drinkware, wine chillers, mini-fridges for cosmetics, knife sets, charcuterie boards, dessert molds, a teapot (featuring her catchphrase, “That’s Hot”), and more. Prices are affordable at $19.99 to $129.99, the latter for a 10-piece cookware set.

• Kenmore licensed Galanz Americas last December for a line of home appliances—described as having “attainable value”—including wine and beverage coolers, compact refrigerators, and countertop and over-the-range microwaves. Products are sold online and in-store at national retail chains.

• Miranda Lambert’s Wanda June Home Collection, introduced exclusively at Walmart last year, puts the emphasis on Southern hospitality, inspired by Lambert’s mother and grandmother. The assortment upon launch included more than 80 SKUs in kitchenware, tabletop items, barware, and home décor, mostly priced at $30 or less. New collections are dropping each season.

There continue to be licensed home goods lines at all price points, of course. But the number of new deals emphasizing value pricing is on the rise, as would be expected in the current environment.

Meanwhile, one home goods retailer, At Home, announced in March that it was permanently cutting prices in several categories, including furniture, rugs, lighting, planters, and home décor, after having cut its costs on freight and other elements of its supply chain. The company’s positioning focuses on everyday value, but it had had to increase prices last year due to rising costs. The fact that supply chain costs are coming down makes it easier to create lower-priced products to meet consumers’ current desire for affordability, as has been done in the licensing deals outlined above.