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Hasbro is one of the largest licensees in retail, a market dominated by Disney due to the large number of characters and stories that consumers demand from this brand.
The toy market has maintained significant sales estimates, despite the fact that resources such as apps or video games have advanced in consumer attention.
Hasbro has a new idea of sale and personalization of toysso now you can be a toy Power Ranger, as this one will carry your expensive molded in plastic head.
The movement is named “Selfies Series” and with this you can take one selfiechoose some headdress options from your hair and order your action figure to become a plastic Power Ranger or a character from starwars, G.I. Joe, Ghostbusters, Hombre de Hierro, Black Panther, X Wing Pilotamong other figures.
You will be able to turn yourself into an action figure with @Hasbro‘s new “Selfie Series” toys coming this fall 🗡 pic.twitter.com/EJFjWNkXr4
— aGOODoutfit (@aGOODoutfit) July 14, 2022
All this is possible thanks to the decision made by the head of global design in Hasbro, brian chapmanwho recognizes that this began with an activation in a Comi-Con and now it has become Hasbro’s new sales strategy, which has sued a supplier in order to meet the demand for toys, so formlabs it is part of the new global strategy.
Partnering with a firm specialized in 3D printing is an example of how technology impacts the business needle of companies. McKinsey led an important study where he asked companies how technology adoption had impacted their business and the 19 percent of them recognized that it had had a high impact on the creation of new income channels. 21 percent agreed that it dramatically improved revenue from current sales channels and a 31 percent accepted that it had a high impact on cost reduction.
Just as Hasbro is doing, branching out with technology, by allowing its consumers to customize the toys they order, the role of strategic partners and technology supplier are gaining strength in today’s market. This toy company has benefited from associating itself with a company specialized in 3D printing, but in sectors such as streaming, Netflix is teaming up with a Microsoftto boost its advertising business and be able to launch its subscription service based on this concept as soon as possible.
When Deloitte Y MHI they launched into a world studyto ask companies during 2021, what was the technology cutting edge or innovative that they had adopted in their operations, highlighted cloud storage technology, 40 percent; robotics and automation, 28 percent; predictive analytics, 22 percent; 3d print, 18 percent; wearable and mobile technology, 18 percent; autonomous vehicles and drones, 16 percent; artificial intelligence, 14 percent.
The idea that Hasbro is promoting with its personalized action figures is part of an efficiency phenomenon that is leading retailers to sell clothes, they only prepare them when the order enters the store, requesting the size and design chosen by the customer; if toilet paper is distributed to stores, now the rolls are compacted so that, to the extent that they take up less space in their transfer, in that proportion the logistics of the product become more efficient and it is a trend, where instead of buying a new deodorant container, now you only buy the spare part of your device.
This personalization of consumer taste, which is the twin sister of efficiency, as we have described in the previous paragraph, is going to have an impact on retail, where companies that license their content as Disneyreach store sales of up to 54 billion dollarsaccording to Dear of License! Globalwhile Hasbro occupies the fifth place in this list of companies with the highest sales of products that they license in retail, by adding $7.8 billion for this concept.
SMART MOVEMENT
What started as an activation at a Comic-Con, to recognize the fanaticism of the followers of great stories like the Power Rangers, became a business movement that updated its model to one where customization plays a key role and it is that brands are thinking about their operations to that exact extent, to avoid increasing inventories that end up in sales or that impact the presence of a brand before the consumer, lowering its price. reputation as it happened with Michael Korswhich went from being a premium brand to a firm that is doing everything in hand so as not to become a generic brand.