Selling toys on its website has given Macy's new online customers. Now, it is preparing to see if toys will draw additional shoppers to its stores.
It’s almost impossible to compete against Walmart, Target, and Amazon on price or assortment.In-store toy shoppers tend to be last-minute shoppers, meaning the stores have to be ready to do the bulk of their holiday sales in the hectic last week before Christmas.
Toys R Us executives were complaining, decades before the retailer filed for bankruptcy, that Walmart and Target were using toys as loss-leaders during the holidays to draw parents, who would also buy lots of other things when they came into the store looking for the best price on a Barbie Dreamhouse. Amazon increased price competition by making it easy to search online for toys.
And with limited space in the Macy’s stores, Toys R Us will only be able to offer a curated assortment of toys, meaning it will be crucial that it picks the right toys to put on the shelves.... [+]One of the old Toys R Us’ key weapons in the holiday toy wars was that its size, and long history in the toy business, gave it the clout with manufacturers to insure that it got shipments of the hot toys the competition was sold out of.
The strength of the shops will depend on their ability to draw parents, grandparents, and kids who want to browse a well-selected assortment of toys, rather than shop for a particular hot toy. The shops will need to be featured prominently in the Macy’s stores, and well-staffed and maintained. WHP and Macy’s are also betting on some Toys R Us star power to draw people to the shops. The shops will have a life-size Geoffrey statue perched on a bench for photos and selfies.
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