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. [Read more...]