Overcoming Inertia
Signs big and small point to a more positive holiday season
Cliff Annicelli, Editor In Chief -- Gifts and Dec, 10/1/2009 12:00:00 AM
Not being a financial guru, I can't with a straight face declare that the recession is "very likely over" the way Federal Reserve Chairman Ben Bernanke did last month, but things are certain starting to look up in the toy business.
Personally, I've been a bit dubious about talk of an impending rebound—just this week, for example, I read something about New York City's unemployment rate hitting 10.3 percent, a 16 year high—but beyond the shores of the Hudson, the more toy retailers we talk to the more my feelings on the matter turn positive.
Just a few days ago, in fact, I was at a presentation by Toys R Us CEO Jerry Storch at the retailers' flagship store in Times Square. The topic was TRU's direction and strategy. It followed the company's announced intention to open dozens of Holiday Express pop-up stores and in-store toy boutiques in its Babies R Us locations. The presentation was full of good indicators, achievements such as three consecutive years of net income growth and a higher increase in same store sales during last year's holiday season than any other major toy retailer—even Walmart.
It doesn't stop there. Read through this issue and you'll find signs of heightened expectations all over the place. Most notably, our fourth quarter forecast story is full—almost entirely so, to my surprise—of retailers solidly positive about the near future and fully expectant of a better 2009 holiday season that what they lived through in 2008.
Read columnist Richard Gottlieb's piece and you'll see just how many new doors selling toys there'll be for consumers to walk through to spend their holiday savings this year thanks to efforts by retailers like Spencer's, Sears and the major book store chains to take advantage of what they predict is un-met demand for toys in the nation's shopping malls.
Even our What's Selling page gets in on the good news with one small specialty retailer all set to open a second store this month—and we only found out about that news through a random phone call, imagine how many other small toy shops are doing the same right now. (A request: If you're a specialty toy shop doing the same right now, can you tell the rest of us, please?)
All in all, I get the feeling this month's Fall Toy Preview in Dallas will be a more light-hearted affair than last year's.
See you there.
We would love your feedback!
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What's Selling: Outdoor and More
Jan 12, 2011 -
Post-Holiday Wrap-up
Feb 25, 2012 -
Holiday Sales Ring in the New Year
Jan 13, 2012 -
Rebuilding Momentum
Feb 1, 2010 -
Selling Halloween
Jan 1, 2010
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