Toys “R” Us understandably went out of business in 2018. As we move further into the digital age, we move away from the typical buying of toys in a toy store, and move towards devoting our lives to Amazon. I could see why a company would fail when they only had a single store which truly captured the essence of what the company was. Toys “R” Us’s failure is a story of slowly drained brand loyalty. But that is a topic for a Powell class. I am here to discuss the genius of the worlds largest toy store.
For children and adults alike, the experience in this store is unforgettable. From the massive Ferris wheel and life-sized dinosaur figures to toy helicopters zooming around like seagulls at the beach, this place is one thing, hands-on.
As a child, there are more toys to look at and play with
The process is genius. Selling the child was ultimately the hardest part, they were depending on the toy companies to come out with good products. If the child wasn’t happy the sale was off. However, thanks to competition, toy companies made good products, resulting in happy children, resulting in an easy sell to the parents.
If you are able to place your products in the hands of your customers, and literally show them the happiness that comes as a result of it, the sale will come much easier. This is apparent in other industries as well, such as the auto industry, or the electronics industry. If they can get you behind the wheel of that car, or get that iPhone X+ in your hands, it is going to be a lot harder for you to say no.
Sadly, this concept did not work well enough for Toys “R” Us as they went bankrupt and went out of business, but understanding what worked well and what didn’t for companies such as these are the things which we use to make our businesses better and more effective in the future. So learn from Toys “R” Us, get your product in the hands of your potential customers, and WOW them.
testacr22
This is too true. Having a hands-on model is so beneficial, especially when it comes to something as fun as toys. This also leads into what else Toys “R” Us did well, which is relate to their customers. While the parents are ultimately the decision makers, the kids are the ones who pick what they want. The store was so colorful and exciting, making the children more likely to ask their parents for toys. Great post!
I think Toys R Us couldn’t find a niche path that would give it a special advantage over Amazon. There needed to be an added element of being personal at every location or a new direction with its branding, perhaps exclusive, trending toys only at Toys R Us.