Andrew Matjaszek, head of Marketing at Toikido, tells Toy World how to navigate challenges and seize opportunities in the fiercely competitive Toy market.
Companies face the daunting task of not only creating captivating and innovative products for the most discerning consumers— children—but also keeping pace with rapidly evolving trends,” explained Andrew. “The advent of digital marketing has further accelerated the rate of change, presenting challenges and exciting opportunities alike for those bold enough to adapt and embrace the dynamic landscape.”
Andrew talks about marketing strategies in this article from our August issue, along with how the use of influencers is becoming more and more popular in this digital world.
He said: “Influencers have the capability to foster a sense of community around a brand, cultivating loyalty and support. This aspect proves crucial when launching new intellectual properties, such as our own creation, Piñata Smashlings, on a global scale.”
Another challenge toy companies face is the need to stay in tune with ever-changing consumer preferences. The interest in STEM toys and sustainable products has grown for example. In Andrew’s view, to keep on top of these changes, businesses must “leverage data to gain insights into consumer behaviour and preferences, crafting targeted marketing campaigns that deliver the right message to the right audience”.
Andrew goes on to write about the rise of e-commerce and the benefits of leveraging own websites and online marketplaces, as well as the importance of exploring new distribution avenues.
To read the full Viewpoint, click here.