I've read an article that babies should be exposed to different colors as they stimulate and speeds up cognitive development and recognition of the babies. It's probably the reason why almost all the stuff sold in the market for babies and kids are colorful. Besides, being surrounded with a lot of colors feels happy, so I guess the babies feel the same way too, when they are also being surrounded.
This is very important to me as my baby is still very young and learning a lot of things. I told my husband from the very beginning that I do not want to get everything pink because our baby is a girl. Now his mother who loves pink like crazy is even afraid of getting all things that are of a pink colour I want my baby to learn that there are many colours and not just pink or purple. I also want her to be able to decide her own favourite colour instead of developing and teaching her to love and favour only certain colours.