It’s not that kids are not into toys, it’s just that toy companies that are losing have lost touch with the consumer.
Sales of X-Box, PS-4. and Nintendo are booming. And I think we can all agree those are definitely toys.
But let’s look beyond all that a minute, and look at a toy store that is doing really well today. They don’t sell any products you would consider cool, hip, or even modern. They sell one product, and it’s actually been around since 1902.
The retailer in question is called Build-a-Bear. In spite of selling one product that hasn’t been relevant since the turn of the 20th century, they do really well. In fact, just last summer they had a one day sale (I believe it was a ‘pay your age’ promotion) that literally blew up every mega mall in America. It worked so well, they shut down their stores within minutes after opening because the lines were that freaking long.
Why is Build-a-Bear doing so well? They don’t just sell a teddy bear, they actually take great pains to take care of their customers, and give them a world class experience in their stores.
It’s why Build-a-Bear succeeds, and TRU is dead, and Mattel and Hasbro are circling the drain. When you lose the customer, you lose the business!
