Andrew Yanofsky, Head of Marketing & Operations at WowWee discusses the company’s return to robotics, the trade show shift, and the expansion of Hasbro Splash Games in this extended edition of The Toy Book’s 2023 State of the Industry Q&A roundtable. Want more insight from the all-stars of the toy industry? Click here to explore this year’s lineup!
The Toy Book: WowWee is heading back into robotics in a big way with the release of MINTiD Dog-E, which made a big impact at CES in January. What prompted the move after years of diversifying the WowWee portfolio?
Andrew Yanofsky: The toy industry is like a pendulum. Trends emerge and manufacturers race each other to be first to fill the white space. Paradoxically, in so doing, other opportunities emerge in under-serviced areas. We feel robotics is one of those areas. There’s been a huge trend with blind boxes both in toys, but also in the tech space with the NFT boom (and crash, for now), and we got excited about combining the thrill of discovery and reveal with a more high-tech segment like robots. It’s made for a really fresh and original product.
TB: Last year, WowWee’s Hasbro Splash Games brought classic board games from the Hasbro Gaming portfolio into backyards for some wet and wild fun. How will you build upon that success this year?
AY: We’re continuing to reimagine what a board game looks like in a backyard. One question we asked ourselves was “What if the kids are the game tokens!?” and the result is an incredible Monopoly backyard takeover you need to see to believe! We’re also looking to build on successes like the RoboBlaster on the NERF Super Soaker side. How might that play pattern extend, scale down, or scale up in price and size? We have some awesome new products in the pipeline that address that.
TB: Access to hot products at a fair price has been a hot-button issue for independent retailers that lack the buying power of the big-box stores. How is WowWee connecting with and supporting those stores?
AY: In a word: partnership. We’re looking to support them from both a stock allocation and a margin standpoint, and in turn, they help us with something big boxes are not always able to fulfill: experiential, in-store demos; consumer education; and events are just a few examples.
TB: How does Toy Fair moving from February to September impact your business, and what’s your take on the trade show shift?
AY: I think it’s a move for the better. The February timeline often felt somewhat redundant following Dallas in September, Hong Kong in January, London in January, Nuremberg [Spielwarenmesse] at the end of January — and then New York in February. I think the move into September helps impact the current season’s sales thanks to strong participation from press and influencer attendees, and I’m hopeful that retailers will attend in full force to see the following season’s presentations as well!
TB: What are your overall predictions for the state of the toy industry and toy retail this year?
AY: I think the climate is a conservative one. Retailers are still heavy on inventory and I think much of the spring season is going to focus on right-sizing. That said, I think pressures will ease toward Q4 and put the trade into a position to finish the year strong and build on that as we head into the 2024 season.
A version of this Q&A was originally published in the 2023 edition of The BIG Toy Book. Click here to read the full issue! Want to receive The Toy Book in print? Click here for subscription options!
