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Toys "R" We do not put the nail on the coffin yet. The toys "R" Our story is well established at this stage. The toy company & nbsp; did not embrace digital transformation early enough, considering digital as an accessory, and relying on Amazon to manage its e-commerce business. In hindsight, they and others now realize that this was a mistake, a caveat to any other company that believes that digital is simply an incidental effort. Less than a year after the toys "R" We liquidated its badets and closed all its hundreds of stores. The company is back with a new name, a new look and, perhaps most importantly, a new sales strategy.
Tru Kids Transformation
The new company is called Tru Kids. It is headed by Richard Barry, the former Global Head of Merchandising at Toys "R" Us, and several other old "R" toys. Tru Kids is the new parent company of Toys "R" Us and Babies R Us and also owns the rights of Geoffrey and dozens of toys "R" Us, original toy brands.
Tru Kids plans to open 70 stores this year in Asia, Europe and India. It will also have a national plan for the United States and a special focus on brand growth in the United States, but details have not been announced yet. Tru Kids seems to have planned its first announcement well, as the annual New York Toy Fair is taking place this weekend. The largest US Toy Fair could be a good time to present its plans for the future.
New approach to the customer experience
Although the new company holds the rights to the old toys "R" We, it seems that Tru Kids will adopt a different approach to sales and customer experience. Part of the reason for the disappearance of toys "R" We were that customers did not come to specialized toy stores. Instead, they bought items online or at big box stores. Even brand loyalty and a solid rewards program could not save the toys. "R" Us. In the end, a big reason for the fall of Toys "R" & nbsp; We are because it has not invested in new technologies or an updated customer experience.
Tru Kids may have learned the lessons of previous mistakes and is instead trying to promote e-commerce. Barry said the new brand would focus on technology, in-store experiences and customer service. Modern customers like to be able to easily find products online, especially busy parents who do not want to add other shopping to their to-do list. Tru Kids is always finalizing its business plan and is open to various retail approaches, including stand-alone stores, ephemeral stores or partnerships with other brands. The more fluid and innovative approach to retailing could solve the problems of old toys "R" Us and resonate with modern customers.
Tru Kids could be a step in the right direction to revive the old "R" toys we brands. There are still many unknowns after the recent announcement, but time will tell as we learn more about the brand's expansion plan. In many ways, Tru Kids is the litmus test to determine if a bankrupt brand can come back from the dead with a new business plan. If Tru Kids builds a strong customer experience and meets the needs of today's customers, the business could be a success.
Blake Morgan is a guest speaker, futurist and author of "Plus est plus." Sign up for his weekly newsletter on customer experience right here.
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Toys "R" Us does not put the nail on the coffin yet. The story of Toys "R" Us is well established at this stage. The toy business did not embrace digital transformation soon enough, considering digital as an accessory and trusting Amazon to manage its e-commerce. Now, in hindsight, they and others realize that this was a mistake and a warning to any other company that digital is simply an incidental effort. Less than a year after Toys "R" Us liquidated its badets and closed all its hundreds of stores, the company is back with a new name, a new look and – perhaps most importantly – a new sales strategy.
Tru Kids Transformation
The new company is called Tru Kids. It is led by Richard Barry, the former Global Head of Merchandising at Toys "R" Us, and many other former Toys "R" Us executives. Tru Kids is the new parent company of Toys "R" Us and Babies R Us She also owns the rights of Geoffrey and dozens of original Toy Toys 'R' Us toy brands.
Tru Kids plans to open 70 stores this year in Asia, Europe and India. It will also have a national plan for the United States and a special focus on brand growth in the United States, but details have not been announced yet. Tru Kids seems to have planned its first announcement well, as the annual New York Toy Fair is taking place this weekend. The largest US Toy Fair could be a good time to present its plans for the future.
New approach to the customer experience
Although the new company holds the rights of the former Toys "R" Us, it seems that Tru Kids will take a different approach to sales and customer experience. One of the reasons for the disappearance of Toys "R" Us is that customers simply did not come to specialized toy stores. Instead, they bought items online or at big box stores. Even brand loyalty and a solid rewards program could not save Toys "R" Us. In the end, one of the biggest reasons for Toys 'R "Us' downfall is that it did not invest in new ones. technologies or in an updated customer experience.
Tru Kids may have learned the lessons of previous mistakes and is instead trying to promote e-commerce. Barry said the new brand would focus on technology, in-store experiences and customer service. Modern customers like to be able to easily find products online, especially busy parents who do not want to add other shopping to their to-do list. Tru Kids is always finalizing its business plan and is open to various retail approaches, including stand-alone stores, ephemeral stores or partnerships with other brands. The more fluid and innovative approach to retail could solve the problems of the old Toys "R" Us and reach the modern customers.
Tru Kids could be a step in the right direction to revive the old Toys "R" Us brands. There are still a lot of unknowns after the recent announcement, but time will tell as we learn more about extension plan of the brand. In many ways, Tru Kids is the litmus test to determine if a bankrupt brand can come back from the dead with a new business plan. If Tru Kids builds a strong customer experience and meets the needs of today's customers, the business could be a success.
Blake Morgan is a guest speaker, futurist and author of "More Is More". Sign up for his weekly newsletter on customer experience here.
