Coles cashes in on collectables craze as Stikeez mirrors Little Shop success

Coles has lifted its third-quarter food and liquor sales 2.1 per cent to $8 billion, boosted by its latest kid-focused collectables campaign.
The supermarket giant said on Monday its Fresh Stikeez campaign âdrove high customer engagementâ in the 12 weeks to March 24, mirroring the runaway success of last yearâs Little Shop giveaways.
Following Little Shopâs success, Coles partnered with the Healthy Kids Association this year to release 24 mini fruit and vegetable figurines dubbed âStikeezâ.
The incentive of earning the food-themed mini figures helped lift Colesâ third-quarter comparable food and liquor sales 2.1 per cent on the prior corresponding period â once the timing of New Yearâs Eve is accounted for.
Stikeez proved so popular that some of the ârareâ figurines sold for more than $6000 on online auction sites. Replicas also popped up.
Coles said average basket size grew strongly over the period, underpinned by an increase in items per basket and price inflation in fresh categories.
âWe delivered a solid outcome for the third quarter,â chief executive Steven Cain said.
âWe know that customer expectations are changing faster than ever, and we are resolutely focused.â
Supermarket revenue rose 2.2 per cent to $7.27 billion, while liquor rose 0.9 per cent.
Collectable toys serious business for supermarkets
Collectable toys have become serious business for Australiaâs major supermarkets, following the surprise success of Colesâ Little Shop in 2018.
Shoppers went wild for the series of miniature household items last year, with some selling for thousands of dollars.
Brands aligned with the Little Shop promotion also gained, with sales of featured products, including White King toilet cleaner, Daily Juice and Messy Monkeys snacks, soaring by up to 50 per cent.
The craze also proved costly for rival Woolworths, with it blaming LittleShop for its own sluggish start to the 2018-19 financial year.
âSales have been impacted by customers adjusting to ⌠a competitor continuity program,â Woolworths group chief executive Brad Banducci said at the time.
Curtin University marketing lecturer Billy Sung said the success of supermarket collectables relies heavily on an âinnately humanâ bias towards wanting to complete things.
âWe looked at LittleShop and found that consumers were trying to complete the whole collection, and they were prompted to buy more things to collect the items because they were randomised and exclusive,â Dr Sung said.
Such promotions are designed to ârestrict the availabilityâ of items so that âyou have to complete more transactions to collect all the itemsâ.
-with AAP
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