Licensed Toys at Specialty Retail

by SUE WARFIELD, President, American Specialty Toy Retailing Affiliation (ASTRA)

Through the years, licensed merchandise have been a “hands-off” commodity for a lot of specialty shops. Licensed toys cost more, are generally of decrease high quality, provide little play worth, and don’t have the general look that specialty toy shops wish to current. These are all comprehensible causes to keep away from licensed merchandise at specialty shops, and as a former gross sales rep, I heard them on a regular basis. However as a mom and a grandmother, I do know that youngsters and adults usually gravitate towards licensed merchandise. 

As we’re eternally working to extend our market viewers in our specialty toy shops, a curated choice of licensed merchandise can attract new clients and age up your audience, especially with the growth of the “kidult” market. 

For these retailers who’ve continued to shrink back from carrying licensed merchandise, the bottom line is to curate your choice fastidiously. A retailer stuffed with solely licensed merchandise? In fact not. That’s not what specialty is about. Nevertheless, deciding on key licenses that can resonate together with your customers and slot in together with your current product combine will make a distinction in your gross sales. Contemplate Harry Potter, which is massive for all ages. The LEGO Group’s Botanicals collection is a large success, and extra licensed merchandise from Santoki are on the way in which. Manufacturers like Scorching Wheels, Barbie, and Pokémon are well-known and drive gross sales. 

My youngsters had been raised in Montessori preschools and in a college system that adopted the Montessori rules, so I used to be adamant in regards to the high quality of the merchandise I bought for his or her toys at dwelling. I proceed that observe once I buy issues for my grandchildren. On the similar time, when children (and adults) have favourite characters or there are licensed merchandise that present the identical play worth and high quality because the unbranded variations, I wish to go the licensed route so as to add that additional little little bit of magic to the present.

As with all issues, stability is the important thing — particularly for specialty shops. ASTRA shops, employees, and members are sometimes requested, “What’s specialty?” Years in the past, we thought-about solely distinctive merchandise unavailable at mass retailers or wherever else to be “specialty” toys. Some toys nonetheless match that invoice, however product assortments have shifted loads to incorporate different classes. Specialty shops are about making every buyer really feel particular, whether or not by means of a curated choice of merchandise, elevated customer support, or distinctive and interactive experiences past a conventional procuring mannequin.

Licenses could make a right away impression as a result of these are the manufacturers and characters clients know, acknowledge, and listen to about on all the varied social media and influencer retailers. If customers can discover a few of their favourite licenses in specialty shops, they gained’t should go to a mass service provider, the place they may most probably purchase different toys as properly. Curate your product assortments fastidiously to stay particular and encourage clients to return to you earlier than heading to a giant field retailer or clicking “add to cart” on-line.