There's a theory in economics called the lipstick index. The idea is that during tough financial times, people trade down from big luxury purchases but still treat themselves to small, affordable ones. Lipstick. A nice coffee. A Jellycat.

It sounds light-hearted, but the data backs it up. On finance-focused forums and Reddit threads across Australia, Jellycat comes up again and again as the one purchase people refuse to cut. Interest rates have climbed. Grocery bills have gone up. Dining out has been trimmed from the budget. But somehow, the plush collection keeps growing.

The honest conversations collectors are having

People are openly admitting to some wild financial prioritisation. Skipping brunch to fund a new Bashful Bunny. Deciding a bag of Jellycats counts as a Christmas investment. Justifying a new amuseable character as self-care.

It's funny. But it also says something real about these products. Jellycat taps into something emotional. They're nostalgic without being childish. They make genuinely beautiful gifts. And there's a collecting community around them that makes the hunt part of the fun.

The price question

That said, there's also a genuine conversation happening about value. Retail prices for mid-sized Jellycat items have been pushing past $50 to $80 AUD as the UK manufacturer adjusts its pricing. For some buyers, that's starting to feel like a stretch.

We understand the frustration. We feel it too as a retailer.

What we can promise is that we sell at recommended retail prices. We don't inflate our margins on popular characters. We absorb what we can and stay transparent with our customers.

What makes Jellycat worth it (in our view)

The quality is genuinely excellent. The materials, the stitching, the design detail. These aren't fast-fashion plush toys. They last. They're giftable at any age. And they hold sentimental value in a way that cheaper alternatives simply don't.

We stock Jellycat because we believe in them. Not just because they sell.  We have stocked Jellycat since the beginning of our journey.

If you're looking for a gift that lands every single time, whether for a newborn, a birthday, or someone who just needs a bit of comfort, Jellycat remains our top recommendation.

Browse our current range at oliviaandgrace.com.au, or come in and see us at 672 Beaufort Street, Mount Lawley. We're always happy to help you find the right one.