“Barbie” is everywhere. It has taken over retail marketing. Everywhere you look there’s a new collaboration, from fast fashion to food and beverage to department stores. Apparel retailers, including Gap, Aldo, Forever 21, Primark, Hot Topic, and Spirit Halloween, have launched collections in celebration of the movie release.
And even startups are hopping on the pink wave, with direct-to-consumer (D2C) brands like Béis and MeUndies offering limited-edition Barbie-themed collections, and accessories brands like Kipling and beverage startup Swoon have made their way into the toy aisle of sorts.
In April, PYMNTS reported that struggling retailer Gap bet on nostalgia with its Mattel collaboration. The move followed a challenging year marked by multiple financial losses, excessive inventory, and the pursuit of a new CEO. The retailer has been seeking ways to regain momentum and rebuild its relationship with customers.
Gap said the collaboration features a clothing collection inspired by Mattel’s toy brands. The initial release focuses on Barbie, incorporating Barbie branding along with Gap’s distinctive arch typeface. The collection includes T-shirts, skirts, logo hoodies, denim, button-downs, accessories, and even pet attire.
The announcement emphasized that the Gap x Barbie collection represents the core values of inclusivity and individuality, resonating with the Gen Z demographic.
Read more: Struggling Gap Bets on Nostalgia and Brings Back Barbie
Following the announcement, Gap reported its quarterly earnings on May 25. Despite Gap reporting another quarter of net losses and declining sales across its four brands, the retailer remains optimistic about its progress. Notably, Gap has successfully enhanced its margins, a development that caused its shares to surge during extended trading.
While it may be too early to determine the success of Gap’s collaboration endeavors, Mattel’s Barbie campaign has been proving fruitful.
Following Mattel’s expansion in its intellectual property (IP) business in the past year, the Barbie takeover is unsurprising. Mattel’s investment in IP licensing deals not only led to a profitable second quarter but also resulted in a 20% increase in sales. Among Mattel’s licensed franchises are Hot Wheels and Barbie.
Collaborations, in general, have gained popularity among brands as a means to access new customer bases.
Barbie has long been an emblem of childhood memories and nostalgia for millions of people worldwide. Collaborations with retailers and brands tap into this sentiment. By incorporating Barbie into their products or displays, retailers leverage this emotional connection.
Additionally, in recent years Barbie has embraced diversity and inclusivity, collaborating with organizations, influencers and brands that celebrate various ethnicities, body types and backgrounds. Consumers appreciate these collaborations, inspiring a broader audience and fostering a positive impact within the retail industry.
Collaborations between Barbie and other popular brands or influential figures create a strong cross-brand synergy. Consumers who are loyal to a particular brand or who admire a specific personality may be enticed to explore Barbie collaborations. These collaborations extend the reach of both Barbie and the partnering brand.
Gen Z individuals love to engage with the pop culture and trends of previous decades, even if they did not personally experience them. While nostalgia is present across different age groups, Gen Z stands out as the most nostalgic generation, with 15% expressing a preference for reminiscing about the past rather than focusing on the future. Millennials closely follow at 14%, and this inclination tends to decrease with age.
Studies reveal that the influence of nostalgia in media is primarily driven by Gen Z and millennials. Gen Z takes the lead in this trend, accounting for 50%, closely followed by 47% of millennials.
To satisfy their nostalgic cravings, Gen Z has embraced flip phones and digital cameras, seeking a return to a simpler era and intentionally avoiding sensory overload. This shift not only helps reduce excessive stimulation but also allows them to showcase their individuality.
If you’ve kept up, you know that millennial and Gen Z shoppers are increasing their monthly fashion budgets by more than 26% to obtain the brands and luxury items they desire.
“The most surprising part of this is that younger buyers, specifically Gen Z and millennial shoppers, are growing three times faster than other generations as luxury buyers,” said Kristen Gall, president of Rakuten Rewards.
And to support those pricey habits? According to PYMNTS data, credit. Credit remains to be a lifeline for Generation Z — if they can get it in the first place.
Read more: PYMNTS Data Shows Gen Z’s Embrace of Credit — When They Can Get It
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