Bitcoin News Australia

Yesterday, I noticed my local thrift store’s staff picks were all pink pantsuits and dresses. It’s officially hot Barbie summer — and that’s by design.

In anticipation of Barbie’s July 21 theatrical debut, Mattel launched 100+ collabs with various brands, on which the toy company either receives a flat fee or a 5%-15% cut, per The Wall Street Journal.

Like what?

Like everything.

• Fashion crossovers with Forever 21, PacSun, Hot Topic, and more — including for pets
• Barbie food: e.g., pop-up cafes, pasta, and glittery Pinkberry swirls (don’t worry, there’s also Barbie dental care)
• Video game controllers stored in plastic pink DreamHouses
• Airbnb even offered a stay at a real-life Barbie DreamHouse in Malibu

Meanwhile, the #barbiecore aesthetic is taking over social media with 508m+ hashtag views on TikTok.

Why is Mattel going so hard?

Thanks to IP licensing deals, Mattel saw a 20% increase in Q2 revenue, per The New York Times. Plus, movies can introduce new fans and reignite existing ones (see: rival Hasbro’s Dungeons & Dragons movie).

Mattel has 14 films planned, including a “Hot Wheels” flick — but of all Mattel’s brands, Barbie rules, making up roughly a third of profits in 2022.

This movie is looking like an absolute win, with an anticipated $100m domestic opening weekend box office, per Matt Belloni of Puck News (also the film’s budget, BTW).

Of course, Mattel didn’t spend that money — for the most part, Warner Bros. did. What Warner Bros. paid Mattel for the honor is unknown, but one analyst estimated $25m-$50m.

Boom: Even opening against Christopher Nolan’s Oppenheimer has been a boon: 20k+ fans have already bought tickets for a five-hour double feature, per AMC Theaters exec Elizabeth Frank.

Of all the stores out there, dollar stores probably live up to their name better than any.

Not just because of their prices (though, honestly, they often substantially exceed $1), but also because they’ve gone on an absolute cash-printing tear.

In 2022, Dollar General and Dollar Tree commanded revenues of $37.8B and $28.3B, respectively.

Dollars and sense

As pandemic-era inflation drove grocery receipts through the roof, Americans pivoted their carts. For instance, grocery spending at discount chains jumped 71% between October 2021 and June 2022, per The Wall Street Journal, while other grocers saw sales dip 5%.

What’s particularly interesting is how this trend extends across demographics, especially among those for whom dollar store shopping is not a necessity.

• The share of dollar store visits among customers making $100k+ rose 4% this year, compared to the second half of 2022, per InMarket.
• Morning Consult found 45% of six-figure households are open to shopping at dollar stores, up from 39% last year.

(Saving) money talks

Part of the trend may be awareness. On TikTok, the hashtag #dollartree has 8B views, and the platform is full of frugal shopping tips centered around dollar stores.

Another part may be improved offerings and access — Dollar General is expanding its fresh-produce offerings, and discount grocery chain Aldi is adding 120 US stores this year, targeting higher-income areas.

For more: Read our in-depth visual explainer on the economics of dollar stores.