Enlarge By Christopher Gannon, The Des Moines Register, for USA TODAY U.S. Vice President Biden shows off Canada mittens. The gotta-have souvenir at the Vancouver Games is a sign of just how far the global recession set back the world economy: a $10 pair of red mittens. Amid the flurry of $135 Olympic jerseys and $225 Olympic sterling silver pendants, no merchandise is catching on like these Canadian red mittens, which have the country's maple leaf symbol in each palm. "In the current economy, a mass-oriented price point helps a lot," says Marty Brochstein, senior vice president at the International Licensing Industry Merchandisers' Association. PHOTO GALLERY: Olympics covered in red mittens The recent surge of the $10-and-under retail price isn't limited to the Olympics. It's why the Zhu Zhu Pets mechanical hamsters became a phenomenon at Christmas. And it's why major pizza chains are promoting pizzas — any size, any toppings — at $10. "The $10 mittens are the 'it' souvenir of the Olympics," says Mark Kinnin, vice president of maker Hudson's Bay. The retailer figured it would sell about 1 million pairs. But it's now projecting to sell 3.4 million pairs of the mittens — whose profits help aid Canada's Olympic athletes. The mittens, which are made in China, are acrylic/wool with polar fleece inside. The $10 item was no accident. "It's something a family of four can afford to buy for each member," says Dennis Kim, director of licensing and merchandising for Vancouver's Olympic Organizing Committee. But they're hard to get. They're currently out of stock on the Vancouver 2010 site. Hudson's Bay has them in stock in stores, but isn't licensed to ship them outside Canada. Some folks are turning to eBay and paying twice the price, or more. Beyond the mittens, most Olympic souvenirs for less than $10 are hot, too. That includes coins, stamps and pins. But some midprice items also are selling well, including those with the three Olympic mascot critters: Quatchi, Sumi and Miga. But nothing is causing a stir like the mittens. TV shots show fans waving them. VIPs from Vice President Biden to Cindy Crawford have been spotted in them. Olympic merchandise rarely has global interest, says Ira Mayer, publisher of The Licensing Letter. "But when something takes off, it can go beyond the Olympics and become a fad." For example, at the 2002 Salt Lake Games, the berets worn by U.S. Olympians were an instant hit, and a big boost for the image and profits of the maker, Canadian company Roots. Similarly, Hudson's Bay is leveraging its Olympics link, Kinnin says, "to get our brand message out." Guidelines: You share in the USA TODAY community, so please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Use the "Report Abuse" button to make a difference. You share in the USA TODAY community, so please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Use the "Report Abuse" button to make a difference. Read more