An Open Admission of a Major Threat to a Struggling Toy Industry
“Ditch the digital distractions.”
Those four powerful words are actually quite revelatory coming from a company like Hasbro. Giant corporations that generate billions of dollars in sales—per year—typically want nothing more than to paint the rosiest of pictures (regarding their businesses) for their customers and of course, their stockholders. But for a few years now, toy industry analysts (including those here at The Joe Report) have been openly ruing and discussing how two specific inventions—the cell phone and the video game console—have largely been responsible for precipitating an industry-wide slump in toy sales; not to mention the bankruptcies and closings of major toy retailers (i.e. Toys ‘R Us, Hobbico, etc.) and the scariest thing of all—the growing LOSS of the toy industry’s historically primary customer base—CHILDREN. Yes indeed, those are four POWERFUL words.
One BIG Question Remains—Will Children “Tune Out” of Toy Fandom FOREVER?
Remember the days when toy companies simply had to urge us to “Collect ’em All!” and we’d frantically beat a path to our local toy store to comply? Sure ’nuff! And growing up, we’d watch all of those Hasbro and Mattel commercials on TV, see their products displayed in store windows, and peruse their ads in endless pages of comic books. By the time we’d finally convinced our parents to take us to the toy store, our desires had become almost Pavlovian. See the toy—want the toy. Remember the mad scrambles over Cabbage Patch Dolls back in the 1980s? The idea of that sort of consumer “scrum” over ANY toy today seems almost quaint. It’s just not likely to happen.
Bottom Line: This latest email from Hasbro may be nothing—or it may be something. How’s that for a wishy-washy conclusion? Regardless, we’re sure that the “big boys” over at both Hasbro and Mattel would be THRILLED to see some of that ol’ “rabid” consumer interest in their products once again. But thanks to today’s dreaded digital distractions, that sort of mania doesn’t seem likely to happen ever again. In fact, the current, ongoing, DECREASING demand for nearly all categories and brands of toys continues to paint a gloomy (rather than rosy) picture for the industry. It clearly has MANY manufacturers worried (see our previous story HERE). Fingers crossed for better news!