Every month data is released reporting on the year on year performance of toy related categories such as games, puzzles, plush, art, craft, dolls, sport, indoor, outdoor and the like. This data and the accompanying analysis is used by buyers in major retailers and connected small business toy category retailers to adjust focus to leverage the trends in the data.
The monthly report is tremendously valuable is seeing the whole of category isights across all retailers. The analysis reveals trends you may not see in your store or a group of stores you work with.
Suppliers will usually not share the isights unless they are relevant to them. This is why whole of category insights are valuable, because of the source of the data and that it is outcome focussed and not supplier driven.
As we transform our businesses, which is a never ending task, external professional data to fuel strategic and tactical decisions is vital. Sure, you can get insights from your own business. However, to see broader possibilities, seeing what is happening inside competitor businesses could take you to a whole new level.
Newsagents in a marketing group should have access to this information as it is just this sort of independent analysis groups would / should use to guide the advice they provide their members. In the toy category there is an excellent independent report, best practice in fact.
As a channel we have moved beyond relying on advice from suppliers and others that is nothing more than opinion. Our decisions need a strong foundation and the best foundation will be in reliable data backing professional analysis.
Toys is an important category in the transforming newsagency. It can account for an amount equal to around 25% of annual card sales as a starting benchmark.
The toy category is another of those in which newsagents used to dominate. It was let slip away. Now it is time to bring it back. However, in toy more so that almost any other category, brand matters. This is not a place for cheap China imports if you want to become a destination retailer.
I’m an occasional reader here; I discovered this blog while looking for some info on Frankie magazine several months back and ended up becoming fascinated by the insight into news agencies. (As an American living in Australia, it took me awhile to realise that my local newsagents weren’t the Oz equivalents of overpriced/dodgy convenience stores.)
Today I was catching up on posts and this one struck close to home. My husband and I are modern board gamers. If you’re familiar with board gaming, you might know that we’re in what everyone is calling a golden age for the hobby. With every passing day it seems that more and more people are finding out that not only has the world moved on from Monopoly/Cluedo/Life/etc., but board games aren’t just for kids. Many of today’s board games are suitable for couples, families (with willing participants at all ages), co-workers, and so on – even solo players. (Much of this might be laid at the feet of Wil Wheaton’s excellent Tabletop series on YouTube.)
In recent months the amazing growth of the hobby and its penetration into the mainstream has been exemplified by US retailer Target’s changes to their toy section. Not long ago, Target’s board game selection was about the same as what the Target stores here in Australia carry: the usual classics, a lot of kiddie games, a few party games, and a bunch of flash-in-the-pan games based on current TV shows and movies. But now, not only does Target in the US carry modern “gateway” games (Pandemic, Ticket to Ride, Carcassonne…) and a few ‘heavier” games, but they’ve licensed exclusive editions of the most popular games. Meanwhile, uber-bookstore chain Barnes & Noble’s game section has, in many stores, started to rival a dedicated game store.
Why am I mentioning this? Well, Australia’s mass-market retailers still have cruddy game selections. Not every town has a game shop, and many game stores either don’t appeal to the general public (the nerd factor) or else people don’t wander into a game store in the first place because they have no idea that board games have changed so much. (I hear “I never knew board games had become so cool!” over and over when teaching games.)
As a fan of the blog, I wanted to pass on this info. Some news agents might do well to investigate the modern board gaming phenomenon for themselves and consider stocking and showcasing a few gateway games. After introducing a modern board game to someone, I usually have to direct them to an online retailer for their own copy, which is a shame when they’re excited and want their own copy or something similar ASAP.
Anyway, just passing on thoughts. There’s a hole right now in the marketplace where “regular” people in Australia aren’t discovering modern games naturally nor finding anything other than the same-old at Toy World, Target, Big W, etc. when they try to seek something out. (Meanwhile, chains like Games World can be overwhelming and seem like a sea of serious fare.) An attractive display with a few titles, some signage about date night or family game night or office lunchroom, and who knows? Obviously this gap isn’t going to last, but there’s definitely an opportunity to differentiate.
Thanks for the enjoyable and informative posts. I always buy my Frankies from a news agency now!
Shari thanks for this terrific contribution. I hope newsagents take your advice on board. I may publish it as a post as what you say is vitally important.