Steve Pasierb, president and CEO at The Toy Association, talks about major challenges and focuses for 2022 in the Toy Book’s annual State of the Industry Q&A.
The Toy Book: What are the biggest challenges facing the toy industry as we head into 2022, and how is The Toy Association addressing them?
Steve Pasierb: Ocean shipping, domestic trucking, and supply chain issues continue to head a long list of priorities for The Toy Association. We are exerting pressure on Capitol Hill, within the administration, and via the media to drive action on the crisis. At the same time, we must help companies secure new international retail opportunities, and our IP committee continues to push back on counterfeits while advancing two key pieces of federal legislation to address the e-commerce space, as we educate consumers about the safety risks of illicit products. There will also be hundreds of state bills and regulatory proposals that we must address. Essentially, whatever challenge faces the industry becomes our priority — that is fundamental to The Toy Association’s reason for being.
TB: What are The Toy Association’s key initiatives for the year?
SP: We’re relentlessly focused on protecting and promoting our members — and the broader toy community. Effectively addressing the significant challenges I’ve already detailed is paramount, together with more than a dozen strategic priorities, including the Toy Fair Reimagination Project. The Reimagination Project is driving a fresh look at every aspect of Toy Fair New York (TFNY), including who it serves, what each distinct audience needs from the experience, show timing and length, potential new audiences, and more. Results will begin to appear in the 2023 event and build further in the following years, keeping TFNY vital, useful, and impactful for all.
As more members sell outside of North America, companies sitting on the International Affairs Committee will be even more vital, as they provide input and work with staff on threats and opportunities around the world. Our Extended Producer Responsibility Working Group is focused on developing principles for recycling and materials management to guide the industry in increasing sustainability and navigating the emerging patchwork of state packaging regulations. The Association’s and our members’ support of The Toy Foundation Diversity, Equity, & Inclusion initiative, as well as the Foundation’s expanding successful children’s hospital grants program, can create so much good and positive impact both on the industry and society.
Overall, our strategic priorities and a host of specific actions and metrics under each can be boiled down to three things our members want from us: sell, protect, and equip. “Sell” means helping our members innovate and find new opportunities to sell their products, grow, and prosper. “Protect” means that we are ensuring our members can maximize opportunities to expand to new international markets and conduct global business without undue regulatory burdens. “Equip” is providing companies with valuable insights, actionable research, support services, and educational opportunities.
This article was originally published in the February 2022 edition of the Toy Book. Click here to read the full issue!
