After last week’s Blog focused on reducing headcounts and increasing automation within certain retail organisations, it has been interesting to see the whole ChatGPT/AI debate blow up in the media this week. (For the uninitiated, ChatGPT is a natural language processing tool driven by AI technology that can answer questions and assist with tasks like, for example, composing articles.)
Cue a tsunami of people saying “ah, but it couldn’t replace my job”, and in the majority of cases, you won’t be surprised to find out I completely agree – although I suspect a few might get a rude surprise they’re not expecting. Personally, I am confident that we’ll be fine – sure, some B2B magazines already read like they have been written by ChatGPT, but good luck getting AI to replicate this Blog or what we do at Toy World. I reckon I’m safe for a while yet…
Meanwhile, as the UK toy community continues to wait patiently for the majors to confirm their autumn winter selections (one for those in the ‘all toy trade shows should be in September’ camp to ponder…), a lot of the bigger news stories of this week have come from the licensing world.
It’s good to see that popular licensing industry stalwart Mark Kingston is back, having joined Zag in the newly created role of senior vice president, Global Consumer Products. Nice to see Mark return to the fold, and I am sure he will make a big difference at Zag.
Conversely, all is not quite so rosy over at Disney. Back in February, the company announced it would be making 7,000 people redundant, and that process has now begun. Its metaverse division has been closed, which is arguably no great surprise, as it never outlined what it actually planned to do in the metaverse in the first place, beyond a vague statement that it was creating “unparalleled opportunities for consumers to engage with its products and platforms”. Perhaps more surprising was the departure of Marvel chairman Ike Perlmutter, as the Marvel Entertainment division became another casualty of the cuts this week. In an intriguing backstory worthy of a Netflix (or Disney+) mini-series, it seems there was some unfinished business over a disagreement between Perlmutter and Disney CEO Bob Iger dating back to 2015, and it appears that the bad blood between the two has finally caught up with Ike. Beware the Ides of March indeed…et tu Iger.
Against the backdrop of the ongoing internal turmoil at Disney, some licensees remain slightly concerned about the current lack of activity around the much-vaunted Disney 100 campaign. Originally pitched as an event that would see Disney creating a series of magic moments that would last all year round, we’ve reached the end of Q1 with a distinct lack of magic in evidence, and I am hearing on the grapevine that some major retailers have become increasingly reluctant to buy into the whole concept. There was certainly an awful lot of product celebrating the anniversary on show at the Toy Fairs, so I hope the second half of the year sees a significant gear change in terms of supporting activity – and not just, as so often seems to be the case these days, a couple of half-hearted ‘celebrity’ events where the ‘celebrities’ are a handful of random influencers, Coronation Street actresses and obscure reality TV stars. Maybe fine for twitter and Insta impressions, but does it actually translate to sales…?
The next few months are going to see a fair bit of workplace disruption with no less than five bank holidays in the UK: two in April for Easter, and a further three in May, including a new one to coincide with the Kings’ Coronation. While this is bound to lead to some things taking longer than they should to get sorted out, retailers will be looking at the upside and hoping for higher footfall and takings as a result of the extra days off. Meanwhile, over in the US, I understand that Walmart has now ended its working from home policy, having apparently decided that it was having a negative effect on trading. It must be particularly difficult for a retailer, whose in-store staff have to be present in their workplace every day, to reconcile that with head office staff working on a hybrid basis. It will be interesting to see how UK retailers tackle this conundrum now that – to all intents and purposes – Covid is over.
In other good news, the April edition of Toy World Magazine is landing on desks now, and the digital issue is now available to read online. It’s another monster issue, 188 pages packed with all the latest news and new products from the world of toys. It includes features on three of the market’s largest categories: Games & Puzzles, Pre-School and Pocket Money toys & collectibles, plus a host of exclusive articles and interviews (Rachael’s interview with retailer Game is well worth checking out – it really exploded a lot of the preconceptions I had about the retailer and its customer base, as it moves into a whole new way of operating).
And I’m delighted to say that the next couple of issues are going to be even bigger. The May edition will include a mega preview of the Toymaster show, plus special features on the Dolls and Wheeled toy categories, as well as a sneak peek at the forthcoming Distoy event, which I gather is now pretty much sold out.
Looking ahead, June will be something of a licensing special, with a preview of the Vegas Licensing Expo supported by a wealth of other licensing content (there are also major features on the Art & Craft, Action Figure and Infant Toy categories for those of you whose ranges are not predicated around licences). So, whether you’re exhibiting at Toymaster, Distoy or Licensing Expo, or just want to shout about your exciting new launches for the second half of the year, the May and June editions of Toy World are going to be the perfect vehicles for you to put your ranges and properties in front of all the key decision-makers. And for readers, if you want to know what’s really going on in the UK toy market, I’m sure you appreciate there really is only one magazine you need, to keep up with everything you need to know…
