End Of an Era – Talking about Toys R Us going Bankrupted
OK I Know what you’re thinking! What does the Toys R US going bankrupted have to do with in
ternet marketing news and techniques? Well plain and simply if you look at the factors, one of the biggest reason of this situation happening, is do to internet marketing, and online stores like amazon. That is why I want to dis
cuss this article – End Of an Era – Talking about Toys R Us going Bankrupted, and how as business owners, and internet marketers can learn and adjust our businesses so that this situation does not happen to us.
Lets break down the facts and things we know
- Chief Executive Dave Brandon – made the announcement that toys R Us stores will be Liquidating all US locations.
- Roughly 182 store locations nation wide
- Roughly 70 years in business
- The biggest toy store brand
- Out lasted other brands like KB toys,Zany Brainy,Noodle Kidoodle
- Almost 5 Billion in debt
- Founded in 1948 – from children’s furniture store
- Charles Lazarus – founder & world war 2 Vet
- The 60s and 70s where the golden age for the Toys R Us brand and made most of their profits during those decades.
- Attempted to build play areas for the kids to play and shop.
My thoughts to the End Of an Era – Talking about Toys R Us going Bankrupted
So my initial thoughts to this is a simple one. Toys R Us did not implement social media / internet marketing techniques correctly. Major brands like wallmart, target, lowes, and others all started to take notice to the booming marketing changes, and started adapting internet marketing techniques into their budget and campaigns.
My second thought to the toys R Us brand going bankrupted is do to debt. Debt to the toy manufacturers and debt to the real-estate store locations. It was this debt, combined to the lack of changing to the new marketing platforms is what finally stuck a fork into toys R Us.
Now this subject hits close to home, because firstly my best friend has worked as a Toys R Us employee for many years, shes a mom, loves her job and was always being recognized by the company as a out standing employee who cared a lot about the customers who came to the store. Secondly I am a farther of two, and I love shopping at the stores. thirdly I grew up in the 80s and man was it fun being a child and walking around the store and playing with toys, and seeing all the cool things, colors, and shapes in the store, I mean it was a great experience. The loss of this Icon brand will truly be missed.
What can we learn from the Toys R Us Bankruptcies ?
So as business owners we need to think about the various changes, and how to navigate with those changes. If I was the CEO of toys R US I would have made these changes to my marketing efforts.
- Social media marketing. I would be posting sharing and interacting all over social media accounts.
- Focus On Ecom – I would close around a 3rd of stores, and open up more distributions centers, and solely focus on ecommerce and drop shipping techniques.
- PPC Management – Implement ppc campaigns (payPer Click marketing )
- Email Marketing – I would give huge discounts for email subscriptions, and give huge benefits to people who buy via my email / ecom stores
- Affiliate commissions – I would build out a great affiliate program and have other people sell the toys in return for a commission sale.
Why This IS The Start To an End Of An Era
The digital age is upon us and your brand better be ready to market online, or you will louse out big time. The problem is most business do not see the upside of branding and link sharing. The power of the internet is very strong and can reach out to many Many people. You see internet marketing is taking the business world over, below is some facts regarding why & how digital is taking over.
- Google is responsible for almost 96% of all smartphone search traffic
- 82% of people searches will be on their smart phone in order help make purchasing decisions
- Google says roughly 63,000 searches every single second of the day are being searched on the google search engine
- Almost half the population is on some sort of social media platform
- Roughly43% of online stores gain significant views and traffic VIA social media platforms.
- 86% of women will look at social media before deciding to make a purchase
I hope the above info helps shed some light on what’s happening to the business world in 2018 and the effects of changes and what could happen when you do not change with the tides and adapt to new generational trends. End Of an Era – Talking about Toys R Us going Bankrupted is an article I felt could help infom you in regards to business decisions and how important change is to your brand.