Retailer Toynk Toys - Choosing Winning Toys (and Marketplaces) - Episode 28
A REVOLUTIONARY MODEL FOR RETAILERS
DESCRIPTION
In the rapidly changing world of retail, it can be difficult for a brand to figure out a profitable ecommerce strategy. As our guest, Dave Madoch, would say, “Retail is tough. If you watch Shark Tank, there’s a reason why they run from retail.” Despite the obvious marketplace challenges for toy retailers, Toynk has paved the way for innovation. Dave is the Director of Ecommerce for Toynk Toys. Toynk was founded in 2001 when several friends left the corporate grind to form a company focused on fun products.
“Retail is tough. If you watch Shark Tank, there’s a reason why they run from retail.”
Toynk is reaching customers through just about every avenue imaginable. They have a few brick-and-mortar locations and utilize over 20 online retail platforms, including Amazon. Another unique (and highly profitable) avenue for Toynk has been selling at ComiCons across the globe. This hybrid approach to retail seems to be working well for Toynk, but this success was not without its challenges. Dave is going to dive into some of the unique logistics and marketing challenges that Toynk has faced over the past 17 years of business. Retails brands will have a lot to learn from Dave and the folks at Toynk. Today’s episode will prove to be a fascinating case study for anyone invested in ecommerce and the online economy.
KEY TAKEAWAYS
Dave shares how he got his start at Toynk.
How Toynk has almost converted from entirely online to “bring-and-mortar.”
Toynk is almost too Amazon heavy.
Learn all about the Amazon services that Toynk employs.
Speed to market is essential for toys.
The evolution of the toy licensing process.
Discover all of Toynk’s international influences.
Advice for retailers developing a brand.
Dave shares some of the most surprising bestselling toys.
MENTIONED IN THIS EPISODE
Check out the Toynk Toys Gift Ideas!