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Lessons from Europe: All toy business is local
September 30, 2008
Tip O’Neill, the Democratic House Leader back in the 1980’s, once famously stated that “all politics is local.” After spending time with some European toy companies I can confidently state that, despite the fact that we live in a global economy, all toy business is local as well.
As I mentioned in my last blog, I have just been to Denmark to speak at a conference on the future of the toy industry. Though I was there to impart knowledge, I was interested in what I would learn about them. What do they face or how do they operate that is different from what I am used to.
Here are two examples of not so subtle differences:
I discovered that the Swiss toy industry faces the challenge of marketing to a population of 7.6 million people who speak four languages, German, French, Italian and Romansh (kind of a retro Latin). Imagine the what it is like to market in a small country where the population not only speaks different languages but frequently has conflicting tastes in color and licenses.
The Danes turned out to be a wonderfully reserved people who sometimes have the challenge of overcoming their own modesty when designing their packaging. It seems that boldly calling out what is in the box feels too much like bragging so sometimes it is hard for consumers to know just what it is they are getting.
Obviously, when entering a new country, it is best to learn from the locals. Without that kind of on the ground knowledge, the chances for success are sharply constrained.
Despite the differences, I was struck by at least one thing all citizens of toy nation have in common, now matter where they live in the world: A remarkable resilience and toughness as well as a wonderful wit that allows them to face whatever challenges are out there with a sense of humor, a dose of grace and an unshakable confidence in the future.
Someday in the infinite future, when the universe ultimately comes to an end, it will probably be a member of Toy Nation who locks the door and turns out the lights.
Posted by Richard Gottlieb on September 30, 2008 | Comments (0)
