Hello Kitty continues to be the leader among Japanese cartoon characters, according to Chan Wai-man, owner of Hello Kitty goods shop Trendy Gift Gate.
Profit margins were as high as 200 to 300 per cent when the cat's popularity was at its peak two years ago. But now they have dropped drastically to 10 to 20 per cent, and Mr Chan has to sell other toys to survive.
He recalled that some girls spent about $10,000 at the shop. 'They just wanted to take all new products home regardless of price.
'They said Hello Kitty products were expensive when they were young so as soon as they earned their own money, they wanted to buy the products themselves to compensate.
'But since the recession, people try to haggle about prices or buy less expensive products.
'There are more than 20 shops selling similar products in one shopping centre. So you can imagine how fierce the competition is.' The market for Hello Kitty will not diminish even though other characters such as Kyoumo Yoku, Miffy and pocket monsters are on the rise, Mr Chan said.