Richard Gottlieb

2008: Big Challenges

Chris Byrne, “The Toy Guy,” was quoted in a Crain’s New York article: “NYC retail industry readies for 2008.” Chris gave some good insights and I suggest you read the interview. I was particularly drawn to his answer to this question:

"What will be the biggest challenge for the industry in 2008?"
"For the toy industry, there are two. First, ongoing effort will have to be invested in recovering from the recalls of 2007. There needs to be huge education for consumers about safety and Chinese toys. Second, the challenge will be maintaining margin and product value in the face of rising costs."

I agree with what Chris had to say said but let me add this:  Recovering in 2008 assumes that the recalls will have stopped. This raises a disturbing question: What makes us so sure they will and what do we do if they haven’t? 

Just turning the calendar page does not necessarily take us into safer territory. Success in 2008 and beyond will therefore, I believe, be measured by our actions more than our words. Creating toy safety rules as the TIA is doing is great. The proof for consumers, however, will not be in our words but in our actions. They will ultimately measure us by the quality and the safety of the toys they purchase. 

The only way we get safe products is for every toy company, no matter where they manufacture, to take back control over the entire length of their supply chain.   It will be these efforts in the aggregate that will make the difference in how the industry fares over the next few years.  The success of the whole industry is therefore in the hands of each individual company.

2008 will be an interesting and challenging year for all of us. How each of us as individuals answer these challenges may well make the difference in how enjoyable it is. 

Posted by Richard Gottlieb on December 27, 2007 | Comments (0)