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.
STEVE PASIERB, President & CEO, The Toy Association
What are the biggest challenges facing the toy industry as we head into 2019, and how is The Toy Association addressing them?
Preventing tariffs on toy products from China and a threatened fourth tranche is The Toy Association’s top legislative priority, among many, this year. Our staff continues to aggressively communicate the detrimental effects tariffs would have on the toy industry in meetings on Capitol Hill and to the administration. Earlier this month, member companies were invited to join a Washington, D.C., fly-in as part of our participation in the Americans for Free Trade Coalition. Members added their voices on how tariffs can hurt the toy industry and will ultimately result in higher prices to consumers, impacting those who love to play—kids. The Toy Association also secured additional communications, public relations, and lobbying resources, which are being implemented.
Another important topic in 2019 is attacking IP infringement, forgery, and counterfeit products that pose not simply a financial risk to toy companies but, as we saw over the holidays with the tragedy in Wisconsin involving an illicit toy, these products threaten the health and safety of children. In January, we released a white paper on intellectual property infringement and e-commerce in the toy space, and we will continue to work with the toy industry, e-commerce marketplaces, and lawmakers to rein in these abuses.
Further, as the industry adjusts to the evolving retail sector and recaptures sales following the closing of Toys “R” Us, the question remains of who will fill the gap. The retailer frequently gave small- and medium-sized manufacturers that shot at growing significantly. In an age of limited retail shelf space, the Association will look to bring forward fresh thinking and diverse thought leaders to address this issue.
What are The Toy Association’s key initiatives for the year ahead?
Protecting and promoting both member companies and the broader toy community are the reasons we exist. We have many exciting happenings planned for this year, such as the Annual Business Conference this year in partnership with Target, continuing to strengthen Toy Fair New York and Toy Fair Dallas, and organizing a primary El Segundo, California, showroom location for members without business operations on the West Coast for April and September.
Elsewhere, a new multitiered membership offering enables specialty toy stores and individual toy buyers to participate as members in Toy Association activities; we will commission new research on evolving retail, industry studies, and consumer insights for members; and will continue to promote to families the value of childhood play.
