Industry leaders, retailers, and manufacturers weigh in on toy trends, changes, and more in The Toy Book’s annual State of the Industry Q&A.
KIMBERLY MOSLEY, President, American Specialty Toy Retailing Association
What are the biggest challenges facing the specialty toy industry as we head into 2019, and how is ASTRA addressing them?
Last year at this time, we anticipated more large chain store closures. As we all know, that prediction became a sobering reality that continues to reverberate across the entire toy industry and at all levels in the distribution channel. It offers members of the American Specialty Toy Retailing Association (ASTRA) unprecedented new opportunities, even as it raises concerns about competitive responses from well-resourced big-box retailers. Added to the mix for 2019 is uncertainty about potential consequences from new tariff policies from the U.S. and its trading partners.
We’re starting 2019 with accelerating change in our business environment. There’s nothing new about that, right? This year’s version is focused on the infrastructure side and characterized by fragmentation, new business models, and channel fluidity—all of which tend to be challenges for small businesses. However, those ever-changing consumer expectations play to the strengths of ASTRA stores—more experience-driven purchases, a focus on social responsibility retailing, and a desire for shared culture.
Successful ASTRA retailers always respond to a changing market by using their smaller size and entrepreneurial creativity as competitive advantages that make them nimble and adaptable. ASTRA will help identify what is working for independent stores and share it widely with ASTRA members using our portfolio of professional education options, including Marketplace & Academy sessions in Pittsburgh; on-demand, web-based education available 24/7; our certification programs; and conversations that flourish in our online community. ASTRA is known for members who generously share their best business tactics to help others. We will double down on our efforts to give our small business owners proven tactics for weathering the latest changes in 2019.
What are ASTRA’s key initiatives for the year ahead?
- To grow the expertise of our members, which will in turn improve their business performance and increase the viability of their businesses. Check out academy.astratoy.org for details on our professional education programs and watch for the full launch of our new Certified Master Sales Representative (CMSR) this year.
- Establish relationships and partnerships to expand the ASTRA footprint and grow face-to-face opportunities for members to get together, which will increase the mix of ideas, relationships, and products that flow through ASTRA. Think CES, Spielwarenmesse, Toy Fair New York, Toy Fest West, various gift marts and children’s products shows, and ChiTAG. ASTRA will have a presence at all of these and more—in some cases, fueled by formal partnership, and many offering in-person education and networking events.
- Address big picture issues with the leadership of an ad hoc independent toy industry “think tank” we call the Innovation Council. Comprised of highly experienced toy industry professionals and others from aligned industries, you’ll hear more as this group prioritizes the longer-term issues we must tackle in the independent toy industry.
- Add customer-focused activities and benefits centered on new ways to add no-cost, in-store philanthropic programs and information about toys and play to differentiate their stores.
