To borrow an overused phrase that popped up en masse throughout the pandemic, “We’re living in unprecedented times.”
No matter what your party affiliation or lack thereof, there is an undeniable truth that we’re collectively experiencing historic events that, like it or not, will impact our businesses down the road. Whatever changes might be in store, the toy industry is not immune.
When voters head to the polls in November, they will choose either the Republican nominee, former President Donald J. Trump, or the Democratic nominee, presumably Vice President Kamala Harris as of this writing. Whatever happens during the next transfer of power will set the stage for what I believe will be another tumultuous four years.
In the business of play, we should be mindful of ourselves and others — continually looking to “read the room” for a frequent vibe check.
On LinkedIn — my favorite social platform outside of Instagram — friction is already heating up as hues of red and blue begin bleeding into the conversation in potentially divisive ways.
BE LIKE MIKE
A few years ago, a colleague at one of our industry trade shows asked me to weigh in on a topic that could’ve easily forced an answer in alignment with a particular party. I paused and said I prefer the “Michael Jordan approach.”
Everyone buys toys — Republicans, Democrats, and everyone in between.
Four years ago, amid the promo for the ESPN documentary film The Last Dance, a famous quote from the Chicago Bulls legend made the rounds again: “Republicans buy sneakers, too.”
That comment, which Jordan slightly walked back in saying it was “made in jest,” emerged during the 1990 election cycle. At the time, Jordan, Nike’s most famous face, was asked to throw his public support behind a Democratic candidate in the North Carolina Senate race. He wisely, in my opinion, declined to do so. He made the call because it was good for business.
While we’ll never agree with everyone’s politics, we should be able to agree that almost everyone wants to do right by the kids in their lives. Regardless of who moves into the White House next year, birthdays and holidays will still arrive on schedule, and parents, grandparents, and countless others will seek out the best toys and games to gift to the kids in their lives.
Disagreement does not equal a bad person by default. The wrong ideals? Perhaps, but that’s a matter of opinion.
KEEPING SOCIAL CIVIL
It should come as no surprise that I’m a big believer in freedom of speech and expression and that includes content across social media. My opinion is that what individuals place on their personal social media platforms is their business — with a caveat that LinkedIn is a place where folks you work with (or may work with down the line) are watching.
This week is a turning point where strong opinions are emerging, and passion can easily shift into protest and protest into polarity. Some may not care about creating conflict, and that’s fine provided they’re ready to deal with the consequences.
FOCUS ON THE BUSINESS
The toy industry has been hammered with challenge after challenge since 2017. That “new normal” everyone was looking for amid the pandemic? We’re living in it. The only constant is change and nothing will ever be what it once was.
In a realm of creative people, we should look ahead with a mindset built around change.
Additional mergers and acquisitions loom on the horizon and some companies that exist today won’t survive to see the next Administration.
Reshoring and nearshoring, hot topics of a few years ago, should be top of mind, as should the real potential for another U.S.-China Trade War and all the tariffs (or tariff threats) it may bring.
And then there is the dismal state of toy retail in the U.S.
While there are so many outside factors that the industry can’t control, I stand firm that one of the biggest can be solved through thoughtful collaboration — the lack of excitement at mass retail. I’ve said it before and I’ll say it again: You can’t simply pile boxes of toys and games on a shelf and expect them to sell themselves. And you certainly can’t sell empty shelves and peg hooks in aisles that look like garage sales.
Of course, that’s just my opinion.