Selling toys is no business for the insecure or wishy-washy. Store owners make hundreds of decisions every day – some big, some small, some barely significant. Their secret is staying focused. They don’t have time each day in the store to get distracted, look back or second-guess themselves.
It’s no different when they’re out of the store on business, especially when that business is Toy Fair in February or ASTRA’s Marketplace & Academy in June. Attending these shows is a big investment for small independents, and their bottom line needs to see some payoff over the course of the year. It’s no surprise that many retailers go to trade shows with a clear idea of the things they need to accomplish, if not a specific list of objectives.
We asked a few ASTRA members what they plan to accomplish and how they focus their time at Toy Fair and Marketplace. For most, our informal research found that both shows are seen as essential, and aspects of product sourcing and relationship building with vendors are consistent priorities at both.
What retailers accomplish at Toy Fair
Getting energized about the new business year. With its early February schedule, Toy Fair is an optimal time for independents to solidify their focus on the upcoming year. The fourth quarter, punctuated by the intensity of the last few days of the Christmas shopping season, is draining for many store owners. January is when they can exhale, take stock, evaluate what went right or wrong the previous year, and set their plan for the coming year. Many report that the trip to New York gets them focused for the year ahead. The combination of immersion in all things toys for several days, reconnecting with valued friends for lots of business talk, and seeing the vast array of product does the trick. “Toy Fair is one of the best parts of the year,” says Steven Aarons, owner of Barstons Child’s Play in Washington, D.C. “It brings the pieces together.”
Relationship-building with vendors. Toy Fair is a great time to check in with them, do a quick catch-up on the past year, talk about the coming year, and make sure that your store is firmly fixed on their radar screen. “Over the years, you get to know vendors well,” says Aarons. “When you see them at a show, it’s about business, but also about continuing friendships of long standing,”
It’s also a time to initiate conversation with vendors who don’t know your store. “We take a very comprehensive approach to building relationships at Toy Fair,” reports Sherrie Cannon, co-owner of Discovery Depot in Cookeville, Tennessee. “We walk up and down every aisle. We stop at nearly every booth. We talk to vendors. If we don’t already have a relationship, we establish one. We make a point of maximizing every minute at the show and taking advantage of every opportunity to get to know a potential vendor.”
Scouting out the product landscape for the coming year. Specialty toy store owners agree that Toy Fair is the place where they get a broad-swath picture of the product landscape for the coming year. They get a sense of how much new product is coming and what their most reliable core vendors are pushing this year.
“We’re in the early stages of getting our fourth-quarter concept and plan in place when we go to Toy Fair, and the vendors have product in various stages of development,” says Steve Aarons. “It’s great timing for us as we flesh out the picture of our coming year. In fact, I don’t know how you would plan your year if you didn’t go to Toy Fair.”
Independent retailers have a tradition of helping each other, and many take advantage of ASTRA’s “Share the Fair” program to help target the best of the best among acres of exhibit booths. On Monday evening, February 15, ASTRA store owners get together at the Javits Center to make a list of their top picks. The list is available to ASTRA retailer members first thing Tuesday morning. In addition, much product information is shared informally in settings like the ASTRA member lounge and other networking opportunities.
What retailers accomplish at ASTRA’s Marketplace June 14 through 17, Providence, Rhode Island
Get discounts and deals. By June, retailers have a picture of their fourth quarter shelves that is more clear and focused than the one they had in February. It’s essential for them to be ordering at this point, and for vendors to maximize sales. ASTRA’s Marketplace is a great place to do deals because most exhibitors offer hefty show-only discounts.
“Every ASTRA retailer should find the money to attend Marketplace,” recommends Greg Larson, owner of Larson’s Toys and Games in Columbus, Ohio. “The discounts and deals from vendors will more than pay back the cost of the show.”
See hot new products and all the classic best sellers. ASTRA’s show is entirely focused on the specialty niche, and one of its functions is to offer a venue for fledgling new manufacturers to showcase their wares. This means that Marketplace attendees are guaranteed to see 35 to 40 new entries each year, in addition to seeing the final product assortment from established vendors. A creative, unique and high-quality product assortment is one of the key factors that differentiates specialty retailers from their big box competitors, so sourcing those products is a major agenda. “It is worth crossing the country to see the newest toys coming onto the marketplace and to bring new products home to my customers,” says Linda Hays, owner of Hopscotch Toys & Games in McMinnville, Oregon. “It’s an invaluable investment in my business.”
Learn new business strategies. Attached to the ASTRA Marketplace is ASTRA’s Academy, nearly two full days of best-in-the business speakers and trainers who send retailers home with plenty of business ideas they can implement immediately. Topics range from the basics of the toy retailing business to essential updates on the year’s hot issues, from hiring and training staff to the best new ideas in customer service. From how to analyze small store financials to what owners need to know about new credit card regulations, and more. “I brought three staff members to ASTRA’s Academy in 2009,” reports Margaret Warner, owner of The Toy Store in Lawrence, Kansas. “All three have been raised several levels in their management skills. The growth they have experienced from their time at ASTRA’s Academy is far reaching.”
Of course, these aren’t all the objectives retailers bring to Toy Fair and to Marketplace, but they do provide a starting point for retailers planning their own agendas for 2010.
“We’ve been going to trade shows for 30 years,” reports Todd Andersen, owner of Hub Hobby in Richfield, Minnesota. “I’ve found that some small-store owners go with specific budgets and product categories in mind, and others are looser about their objectives. But it’s fair to say that an effective business owner has a strong sense of his priorities when he shows up at a trade show, and it guides the many choices he makes during the show. Effective owners know why they are there, because it’s only good business to be clear on that.” |
