I trust you all had a wonderful Easter break, and I very much hope that trading over the Easter holidays has lived up to expectations. In our neck of the woods, we have had just about every kind of weather imaginable this week (from getting sunburn on an Easter Sunday walk to a nasty sleet storm on Wednesday), so whether you are a retailer who believes footfall is better in either good or bad weather, there has literally been something for everyone.
Over the past week, social media has been awash with people having fun with the Barbie selfie generator – and for those asking, ‘my’ Ken doll (which appeared at the end of last week’s Blog) is already on clearance at Smyths. Life moves fast…
As I mentioned last week, it’s a big movie year for the toy market, with numerous family-friendly films about to hit cinema screens. As well as the Dungeons & Dragons and Barbie movies which I referred to, there is also a new Paw Patrol movie, and of course the highly anticipated Teenage Mutant Ninja Turtles film, which I am really looking forward to. And looking a little further ahead, we are now being promised live action remakes of both Moana and Lilo & Stitch – plus a hugely ambitious project from Warner Bros Discovery’s new Max streaming service, to produce a decade-long television series based on the Harry Potter books.
With Lilo & Stitch going straight to Disney+ and the Harry Potter series being produced specifically for a streaming platform, we appear to be moving into new territory in terms of where entertainment projects from the major studios will engage with their audience. And while I completely understand the artistic and commercial logic of reimaging classic properties, this approach also comes with great responsibility: I never forgave The Damned for their awful cover of ‘Eloise’ (if you haven’t heard it, don’t bother – stick with the Barry Ryan original), and similarly there is a whole generation of fans who idolize the original Harry Potter books and movies, as well as the Moana and Lilo & Stitch films (I am happy to confess to being a huge Stitch fan myself). For the new incarnations, get it right and the rewards could be immense – but get it wrong and there are an awful lot of people out there who won’t forgive you. Let’s hope the updated versions of these blasts from the past will live up to the promise of the iconic originals…
Elsewhere this week, Hasbro has announced that toy stalwart Tim Kilpin will be joining its global leadership team as president, Toy, Licensing & Entertainment, while last week’s episode of Dragon’s Den saw toy company Mood Bears secure the support of not just one, but all five dragons in a ground-breaking first for the show. Congratulations to Jo Proud on that amazing result – searches of Mood Bears on our website went through the roof this week, so the company’s appearance on the show clearly had a great impact in piquing consumer interest in its range, as well as securing invaluable investment. I suspect that Jo’s success will see other toy companies explore the option of appearing on the show – regardless of whether the Dragons choose to invest or not, it’s a great platform for spreading the word about your products.
Another ‘blast from the past’ which appears to be on its way back is Hong Kong – we ran an article this week from one of our US contributors, Richard Gottlieb, who feels that now is a good time to consider heading back to the territory. While I think he may be slightly ahead of the curve, there is a growing feeling that January 2024 should see a sizeable faction of the global toy community congregating in the Far East once again. By all accounts, recent electronics shows in Hong Kong have been ‘rammed’, and it seems that life there is slowly returning to normal. There is clearly still a debate around the trip, and I suspect that some companies (especially US based operators) may be contemplating giving it a miss, but equally I sense that the tide is turning for many others, especially those who buy or sell largely on an FOB basis. There is no doubt that some buyers have moved away from FOB towards ordering more domestic stock, partly because of sky-high freight rates and partly because it ‘de-risks’ the retailer and places more responsibility on the supplier. However, with the margin conversation as lively as ever in toy circles, I suspect FOB purchasing will start to come back into the equation, which would make the Hong Kong trip a far more viable option. It’s definitely my intention to return next January – as long as enough other people will be making the trip.
But that’s some way in the future; coming up over the next few months, the Toy World team will be in Harrogate for the Toymaster show; at Distoy in London; in Las Vegas for Licensing Expo and then, come the autumn, I’ll be heading to the New York Toy Fair before racing back to the UK for Brand Licensing (that’s going to be a hectic week). So, if anyone would like to meet up with us at any of these events, or invite us to attend showcases, presentations or social events, feel free to get in touch. We’d love to hear what you’re up to, so we can discuss how we can work with you to share all the good news with our readers.
We’re putting the finishing touches to our May edition, which will feature previews of both the Toymaster show and Distoy. The issue will be published at the start of May, to help you prepare for these all-important events in good time.
Finally, we bid a fond farewell to our assistant editor Sam Giltrow today, as she heads back to the shipping industry, where she had spent many years before joining Toy World two years ago. At least we know where to go for inside information if the shipping industry starts messing around with container prices again. We’ll be introducing you to Sam’s successor next week, and she’ll be attending her first toy event when she joins us in Harrogate for the Toymaster May show, which I’m sure will be a great introduction to the toy community.
