Leverage Toys for Holiday
A number of sources report that the closing of Toys ‘R’ Us has left billions of sales dollars out there just waiting to be captured. Is this category an opportunity for your holiday business? Let’s take a look.
If you already carry toys take a long hard look at your past few years holiday sales. Consider the % of sales those dollars represent to total holiday sales. If the numbers suggest you have a business you might want to go after an increase here.
First evaluate your assortment, inventory, on order and open to buy. Do you have the bases covered from stocking stuffers to grander offerings?
Do you have enough stock to create an enticing well-displayed Toy department or a carefully curated outpost? Can you pre-wrap some of these offerings for a quick grab and go? Make it festive and easy for your customer.
Don’t try to compete with the big guys, especially on price, but be aware that the top toy trend this year is an extension to last year with animatronic toys high on the list of desirables. Three to look into according to BlackFriday.com are:
1. Fingerlings (especially full size). They have introduced a unicorn to their smaller collection.
2. LOL Surprise offers a LOL Surprise Horse Ride and a Pet series that includes a pony.
3. Hatchimals offer a colleggtibles option that includes a ponette pony with wings.
A group of each could make a great gift outpost as noted above. Let your customers know you have them and sell away. You’ll save your customer a special and stressful trip to the big box. Add free giftwrap (maybe free delivery too) and you are a lifesaver.
Consider a special pre-store promotion for your loyalty customers before you place them on the floor. Offer phone or online orders, free giftwrap and delivery and you just may sell out.
If you don’t really do toys, you may consider adding them this year. Consider the trend above and see if this might be the beginning of a winning holiday category for you.
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