The news of the pending liquidation of Toys R Us is sending shock waves throughout the toy industry and global retail channels, in general. Losing this icon of the retail world will require everyone in the toy industry to reevaluate their sales and product plans and shift strategies to work most effectively with the major accounts in the changing retail landscape. Brick and Mortar' business has been changing for years due to the continued shift toward online shopping and consumers using their local stores as a personal 'showroom' for their online purchases.
The retail world, and the consumers shopping within it, are always changing. The greatest level of success will be had by those who remain nimble and open-minded enough to stay informed and revise their strategies to adapt to these shifts.
Is your business ready to tackle this shifting retail landscape? Is your product line and licensing portfolio strong enough to appear to a wide retail account base? Is your customer roster as diverse as it needs to be to handle shifts such as the recent Toys R Us news? Are you maximizing your company's exposure through Amazon and other dotcom accounts?
For sustained success in the midst of strong competition from business both big and small, regularly reviewing and optimizing your business strategy is a necessary investment of time and resources. Let's work together to make sure the answers to each of these questions a resounding YES. Prepare to stand out with Friess Marketing Group.