Crystal Ganir, Vice President Global & North America Head of Marketing at IMC Toys discusses changing consumer habits, retail evolution, and a shakeup in the doll aisle in this extended edition of The Toy Book’s 2024 State of the Industry Q&A. For our annual roundtable, The Toy Book brings together a panel of industry leaders, manufacturers, retailers, and distributors to discuss the trends, wins, challenges, and opportunities shaping the North American toy industry as it regroups after a tough year and gets ready to rock and roll. Click here to explore the series archives.
The Toy Book: What are the biggest challenges and opportunities facing the overall industry this year and how is IMC Toys approaching them?
Crystal Ganir: A significant hurdle is the shift in consumer shopping habits, influenced by inflation and the need to shop on practicality versus gifting. The key for toy companies to remain profitable is two-fold. First, they need to offer toys that provide value— not only in the sense of how much the toys cost, but also the play and benefits for kids. IMC Toys is currently scaling its Cry Babies brand, covering key ages and different stages, at price points that won’t break the bank but that still deliver on nurturing play that helps build traits like compassion and emotional intelligence in kids.
Second is variety and diversification. In the European market, IMC Toys is a key player across multiple categories and we’re looking to continue that legacy stateside by moving into the outdoor toy and blaster categories as well as games and special feature plush.
TB: Cry Babies has become your signature brand and this year, Disney joins the fun. What can you tell us about this collaboration?
CG: We are very excited about this collaboration! Launching this spring, our classic Cry Babies and Cry Babies Tiny Cuddles will be given a magical makeover, dressed as Disney-inspired characters. Cry Babies Tiny Cuddles will don Mickey Mouse, Minnie Mouse, Stitch, Daisy Duck, and Winnie the Pooh outfits while the core Cry Babies line of dolls will come dressed as Minnie Mouse and Stitch.
Disney is one of the world’s most beloved entertainment properties, having created some of the most iconic characters of all time. We’re delighted to bring the magic of Disney to our Cry Babies Dolls line. Fans are going to love this partnership!
TB: What are your overall predictions for the state of the toy industry — and toy retail — this year?
CG: As consumer spending habits evolve, a dynamic shift is anticipated in how toys and retailers engage with audiences. There will be waves of curated collections where brands will craft offerings tailored to captivate consumer interest.
How those curated collections will be displayed at the retail level will also look different with experimentation taking center stage. Store formats and layouts will undergo changes, creating an enhanced shopping experience. This evolution is not merely a shift in aesthetics, but a strategic move to connect with consumers, offering a fresh, creative, and exciting approach that redefines the shopping experience.
From a toy industry perspective, the tie between toys, entertainment, and the digital space is more important than ever. Having consumers interact with a brand at multiple touchpoints is key for awareness and retention, so we’ll see companies continue to focus marketing investments in digital and retail media.
TB: A well-placed source indicates that IMC Toys is working on a surprise for this year, can you share any hints?
CG: For 2024, IMC Toys is diving even deeper into the doll category. Despite the decline in the category, we are working on offering new exciting products to help reinvigorate the baby doll category. Without giving too much away, fans can expect something that is unlike anything else on the aisle. Stay tuned for more to come!
A version of this story appeared in the 2024 edition of The BIG Toy Book. Click here to read the full issue. Want a copy in print? Click here for back issues and subscription options.
