Toys “R” Us, No Longer Just For Kids, Now Targeting Millennials
Many of us still remember the ghost of Toys “R” Us’ past – shelves spilling over with toys, children running breathlessly from aisle to aisle and those Christmas lines were no joke! Nowadays, the big-box pioneer is a far cry from what it once was.
Luckily, newly-appointed CEO and “turnaround expert” Dave Brandon has big plans for the toy retailer. His vision? To re-establish Toys “R” Us as the final destination for all things fun. “I want kids to come in here and not know where to go next because there are so many things going on,” he explains. In-store toy and drone demos, Nerf gun target practice, and Pokémon trading events are just some of the ways he hopes to revive the exciting, free-spirited atmosphere Toys “R” Us was once known for.
However, the CEO’s goals aren’t solely focused on turning Toys “R” Us back into the ultimate playground of our childhood memories. Actually, many of Brandon’s prospective plans for the retailer involve focusing on today’s consumer. Along with capturing the ever-present omnichannel shopper by bolstering their e-commerce strategy, Toys “R” Us will also be opening more locations. Like many other big-box retailers, they will be downsizing considerably, with some new stores clocking in at a mere quarter of the size of the usual 40,000-square-foot outlet.
The drastically reduced stores are more than just about having a “less is more” boutique-style approach to retail, but rather, an effort to fit in and better serve millennials living in smaller, urban cities. “When it comes to all those millennials who want to live in those urban centers, we’re nowhere,” Brandon acknowledges. The latest retailer to recognize the sheer buying power of Generation Y, Toys “R” Us hopes to appeal to this demographic by tapping into their interests. With a huge market for collectible action figures and electronics normally geared towards big kids at heart, Toys “R” Us hopes to court the same kids who grew up with them, well into their adulthoods.
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