We live in a world that is changing at an accelerating pace. Technology has infiltrated so much of our lives; what does that mean for your business? The good news for toys (and many other industries): Consumer demand isn’t going away. But it is shifting.
To stay close to your consumer, focus on the fundamentals, and be open to addressing them in new ways:
· Great Product. The consumer has more information than ever; a 3 star review can be product death. We are pursuing new technologies to incorporate through acquisition/partnership (Fuhu, Sproutling, Kamigami) and looking further for creative product ideas (new Toy Box show - show trailer.)
· Global Audience. We have invested in diversity for Barbie, and we are looking to partner in high-opportunity countries (e.g. China) to accelerate growth (eBabytree, Alibaba.)
· Be relevant to our primary consumer: Kids! Place our content where they are watching (YouTube Kids partnership). Adapt our product to leverage hot IP (HW character cars).
· Adapt to changing values and purchase criteria. Openly address Mom & Dad, reinforcing learning (You Can Be Anything sizzle) and inclusiveness/EQ development (Curvy Barbie & Time magazine)
· Support distribution. Be open to support our largest and fastest-growing channels (exclusive Amazon arrangement)