The Silly Bandz Craze
Fads come and go and it is usually difficult to predict their staying power. One of the newest fads of today relates to a flimsy-looking neon rubber band, typically worn in bunches by preteen girls. These bands are not the same jelly bracelets Madonna made famous in the 1980’s, rather, these are the newest, hippest, craze of the 2010’s, Silly Bandz.
The Origination of Silly Bandz
The origin of the Silly Bandz craze began with Robert Croak, who Susan Berfield of Business Week reports “went from promoting concerts in east Toledo to the center of one of the hottest kiddie crazes in years.” Croak had been selling custom t-shirts, mugs, and other random paraphernalia for quite some time, when he went to a China trade show with a business partner. There he saw rubber bands that stretched into animal shapes.
Taking a step back, Croak considered changing these bands into a thicker material worn as an accessory. While the idea itself was not original and previously marketed in the US, the concept of turning the silicone jelly rubber bands into tradable pieces of jewelry was innovative. Also unique is the purely viral advertising approach, which truly represents the organic development of the product and the power available to the entrepreneur with little extra cash to spend on a marketing campaign.
The Growth of Silly Bandz
When Silly Bandz are worn, they appear as weirdly-wavy bracelets. The bracelets become uniquely shaped objects when removed and placed on a flat surface. Since the creation of the original animal shapes, the company now offers a variety of options that include Western themes, Princesses, and Rockbandz. Generally, the sales of the Bandz come in packs of 24 for under $5. While Silly Bandz is a private business without public sales figures, Berfield writes that estimated profit margins are at 75% after considering both shipping and packaging costs.
Another sign of the success of the product is the rise of competition. Now included in the race for the consumer is the Birmingham, Alabama based Zanybandz and even more daunting is Disney’s alignment with the competitor Character Bandz/Forever Collectibles. Sean McGowan, a toy industry analyst for Needham & Co says, “Very often a second company ignites the whole market.” Rapid growth and potential for the product's longevity is also evidenced by the quicker than normal expansion of the Bandz into the faith-based market.
While Silly Bandz are not at the level of the Beanie Babies fad of the 1990’s, there is promise. In addition, licensing opportunities abound for Silly Bandz, with names like The Simpsons and Dora the Explorer in the mix along with promises of extensions into celebrity packs with sports and entertainment figures.
Why Do Kids Love Silly Bandz?
Anthony Mason of CBS News reports on how hugely popular the bracelets are with kids, some wearing so many on their arms they are cutting off circulation. Fox News reports that stores can hardly keep the bracelets stocked. The kids actively try to outdo each other by having the most bracelets and trading them amongst one another, turning them into a sort of playground currency.
The Silly Bandz craze is becoming so intense that some classroom teachers outlawed wearing the bracelets in school. Tara George of the New York Times reports that in some New Jersey school districts, arguments amongst students were erupting, with some students stealing the Bandz from other students who had many. It appears, however, that banning the bracelets has only intensified their collectability, further ratcheting up the craze.
Predictions for Silly Bandz
While many cannot forget other previous fads like Pokémon or Beanie Babies, the future predictions for the Silly Bandz craze remain unclear. Due to their affordability and collectability, the bracelets continue to be a hot commodity. Whether or not they have market staying power, however, is undecided. Creator Robert Croak insists that there is unlimited potential. He also notes that all fads fade and he accepts it, but will not allow it to limit his attempt to fully maximize the promise of his creation.
Read more at Suite101: The Silly Bandz Craze http://tweenteenfashion.suite101.com/article.cfm/the-silly-bandz-craze#ixzz0vO3SyplO
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