On the December 21 episode of Saturday Night Live’s Weekend Update segment, Seth Meyers delivered the following:
“Toys ‘R’ Us announced this week that its stores will remain open for 87 straight hours leading up to Christmas. Not to be outdone, the Internet announced that it will be open all the time, always, forever.”
This was meant to be a joke to make us all laugh (and it was funny), but at the same time it needs to be taken seriously, as the Internet has certainly changed the way we conduct our lives. One key difference is that the time of day consumers can make purchases is no longer limited by “store hours.” With a simple click of the “enter” button, toys and other products can show up at our door—or go directly to the gift recipient—in as little as 48 hours, without having to leave the comfort of the couch or desk.
Therefore, no matter what part of the toy industry you participate in, you have to take this change seriously. We all have to continue to evaluate how to best reach and win over the end user 24 hours a day, 365 days a year—or as Seth Meyers put it, all the time, always, forever! I remember talking to many manufacturers, even within the last nine years since I became publisher here, who said that Internet sales were just a tiny fraction of their business and was of no concern. To quote Bob Dylan: “the times they are a-changin’,” and to survive and succeed, we all better be a-changin’ with them.
Which takes me to my next topic for discussion—though it is one that has been addressed numerous times (including within this very column) over the last few years. The New York Times ran an article on December 23 titled “Babes in a Digital Toyland: Even 3-Year-Olds Get Gadgets.” The article discusses how the passion for playing with traditional toys and games seems to be diminishing at an earlier and earlier age. The topic of age compression and increased demand for tech toys is nothing new, but this article references a recent survey of 1,000 parents with children between the ages of 2 and 10, and a particular claim caught my attention:
“About two-thirds of those [parents surveyed], planned to give a tablet or smart-phone.”
From the referenced study, the claim of 66 percent was not as startling as the fact that the sample size began with parents of kids as young as 2 years old! Kids under age 5 possibly receiving tablets or smartphones? The times, they really are a-changin’.
So where do the above two topics leave you if you are in the business of either manufacturing traditional toys and games or owning a brick-and-mortar retail store? If you are saying to yourself, “it is time to fold up the tents,” that could be one option. The other is to continually adapt to the ever-changing marketplace and deliver a product or service your end user will demand. If you face obstacles, analyze and react to them, rather than resist or complain.
As much as the Internet, technology, and tablets and smartphones are changing our lives, it is important to remember that one of the single hottest products on the market last year was a simple plastic loom that kids wrapped rubber bands around to make colorful bracelets. There is probably no happier sight than walking into a store with the child in your life, buying him or her a product off the shelf, and seeing the instant smile and excitement on his or her face. So, as much as the times are a-changin’, in other ways, many of the great things in life stay the same.
This column was published in the February issue of The Toy Book. Check back regularly for more toy industry commentary from Jonathan. Views expressed in this column are solely those of the author and do not necessarily reflect the views of The Toy Book as a whole. We hope that you will share your comments and feedback below. Until next time!