Retailers raise their game after the closing of Toys R Us
Retailers raise their game after the closing of Toys R Us
When Toys R Us closed its doors, customers mourned the loss of a beloved brand that evoked memories of its own childhood.
Retailers, on the other hand, saw an opportunity.
Instead of giving more ground to the giant online Amazon, companies as target, Walmart and Party City increased its offers. Now, before the key holiday season, they go even further by focusing on making their stores a dynamic shopping experience. That means creating playgrounds for children, offering demonstrations of new toys and organizing events such as treasure hunting in stores.
According to NPD Group Inc., a market research group, retailers are trying to take a share of the nearly $ 3 billion left on the table by Toys R Us, or 12 percent of the toy market. USA UU
Last month, Party City opened 50 Toy City pop-up stores that feature six-by-eight foot Lego dinosaurs and other interactive displays. Walmart says that 30 percent of its assortment of Christmas toys will be new. It will also offer 40 percent more toys at Walmart.com a year ago. In November and December, the company's toy area will be renamed "The best toy store in the United States."
Starting in late October, Target will dedicate additional space to 500 stores located near Toys R Us stores for larger toys such as electric cars, game houses and musical instruments, in addition to adding nearly 200 more products. And 100 Target stores will see new designs and accessories in the toy area. The company is also expanding the number of children's events that it organizes. More recently, he had a Lego Minecraft event that included a treasure hunt.
After the disappearance of Toys R Us, at least one foreign toy retailer is investigating the US market. UU MexicoDistroller World, a retailer based on experience with more than 60 stores in Mexico and Latin America, will open its third store in the United States in October. And he will go to the department stores of the United States to open stores and replicate his model in Mexico, says CEO Daryn Fillis. At the center of the experience: parents and children create their own adventure to adopt an alien baby delivered in a space capsule.
"It's all about demonstrations, practical experience," said Jim Silver, editor-in-chief of TTPM, a toy review site. "When you get a toy and you can touch it and feel it, it generates more sales, and those are the experiences that shoppers enjoy."
Meanwhile, Amazon is planning a toy catalog to be distributed at its Whole Foods stores. The company declined to comment on the catalog, but analysts say Amazon could increase its market share in toys from 15% to 20% this year.
Toy vendors had long been taking advantage of Toys R Us' problems, but redoubled their efforts when the network introduced Chapter 11 in the fall of 2017 and accelerated when the network announced it was liquidating its operations in March. Earlier this year, Toys R Us had more than 800 stores in the US. UU It closed the last 200 stores at the end of June.
With reports of the retailer's demise, there was great nostalgia on the part of the buyers, and some analysts acknowledge that empathy for helping to drive an increase in toy sales for the first half of the year. Toy sales in the United States from January to June increased 7 percent to $ 7.9 billion, according to NPD. Last year, toy sales increased 1 percent to $ 20.7 billion as of 2016.
"I am convinced that the strong growth of the toy industry so far this year has been at least partially supported by the empathy that people felt for losing a store like Toys R Us," said Juli Lennett, senior vice president and advisor. of the NPD toy industry. a declaration. "I think it triggered an emotional response that made parents buy more toys in general."
Even FAO Schwarz is taking advantage of nostalgia. The flagship toy store is scheduled to reopen in November in Manhattan after closing three years ago.
The store will have theater staff and will have new play areas, such as a mini grocery store where children can buy food made of wood. In another section, there will be a mechanic who will help children build radio-controlled racing cars. FAO Schwarz is also recovering the large piano that became famous in the Tom Hanks "big" movie
Jessica McCune, 30, was a big fan of Toys R Us and stocked up on a series of toys when stores were closing. Although she said she plans to switch her toy purchases to Walmart, Target and Amazon, she still misses her old visit.
"There is a vacuum," he lamented. "It's a place less dedicated to toys and babies."
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