It’s not very often that a business can come back from the dead and is resurrected from the ashes. Toys “R” Us might be the very business that does that. This company is taking a beating over the past decade as Amazon and Walmart have fired up their online sales taken a massive chunk out of their profits.
Any of the current major retail businesses that have gone under did not learn to adjust their business model. They just fell behind the massive change that was taking place within the world of retail. Customers were seeking something that was more convenient. Toys “R” Us decided not to change your model and hurt them in the end.
But consider this redemption story. Toys “R” Us is learned from its mistakes and now wants to return into the fold. They very much have a new plan for tackling new sales and bringing an all-new audience at the perfect time for the 2019 Christmas season. Toys “R” Us is looking to revamp the entire image offering the same convenience you’ll find at other thriving stores.
Toys “R” Us Plans and New Model
Before, Toys “R” Us was just a huge box store. They really offered nothing to invite families with kids through their doors. The place really was just way too big and offered very little convenience. This is what appears to be changing their new stores. The only plan to be about a third of the size of the old ones, at about only 10,000 square feet.
Cutting down on size will allow for them to save money and offer the toys that parents are most likely to buy. They also want to up the Toys “R” Us experience. They want to include play areas and other experiences for children selection you want to come to a Toys “R” Us store and be able to have fun while parents shop.
They even want to change their sales model into more of a consignment form. If you want to sell your toys through Toys “R” Us, you won’t get paid until customers buy your products. This is a new approach against the old outdated model that cost the company a lot of money. It all boils down to the new owners and their plan to get Toys “R” Us back on track.
New Owners
Tru Kids, Inc is the company that took over Toys “R” Us earlier in the year. They believe that the company still could make a comeback if it was just revamped and the model changed. The new executive of the company and CEO of Tru Kids is Richard Barry, who spent the past few months pitching his new ideas to toy manufacturers in conferences.
Even plan on putting out a brand-new website that has a lot of the same features as you would find with Amazon or Walmart. In the new modern technological age, you must provide new experiences, especially when children are involved. Whether these new techniques will be hit is unknown until the 2019 holiday season.
