Industry trade body, Licensing International has responded to Labour’s Budget from earlier this week, saying that moving forward ‘beloved brands’ will be more important than ever before.
Steve Manners, head of global marketing and UK md at Licensing International, told LicensingSource.net: “After months of speculation, it was good to finally understand the direction the new Labour government would take. The effect of the employers’ National Insurance contribution – together with the uncertainty about new employment laws still to come – has the potential to make businesses cautious about expansion, which is relevant for many licensees.
“The brand licensing industry is eager for consumers to feel more comfortable about discretionary spending, though much of the sentiment following the announcement of the budget is that many consumers will likely remain conservative when it comes to making purchases.
“Moving forward, beloved brands will be more important than ever before in providing a point of difference to brand owners, manufacturers and retailers managing rising costs and lower consumer spending.”
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