When Toys ’R’ Us went bankrupt it seemed others were quick to move in and take the new market share, with Amazon planning on printing a holiday toy catalogue while Walmart is also upping its toy game, announcing on Friday an expanded toy store as well as increased e-commerce toy offerings.
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At an event held Thursday in New York unveiling the retailers new ‘toy store’, a spokesperson for the company said that this expansion is not in reaction to Toys ’R’ Us, and it has been a part of a broader effort this year for Walmart to offer its customers a wider selection.
Walmart unveiled “America’s Best Toy Shop,” which will include thousands of new and exclusive toy items, in store shopping experiences, including demonstrations and exclusive toys from influencers. The company is also making a big online push.
Walmart is adding thousands of new and exclusive toy items, expanding its instore offerings to include experiences like demonstrations and exclusive toys from influencers online. The company is also making a big online push. This expanded toy assortment includes 30 percent new toys in stores and 40 percent more toys online.
To help toy shoppers the company came up with the season’s 40 top rated toys – according to kids. The company is also bringing layaway back, starting Friday holiday toy shoppers can put aside their items and make payments on them.
Consumers’ habits are changing, but this won’t necessarily mean the death of retail. Sure, e-commerce sales are growing but consumers have proven that they are willing to go to a store – for an experience.
The most recent earnings season proved this. Retailers who are adapting to the “new norm” are thriving from the strong economy whereas those who are not are being left behind.
Walmart is one of the companies whose latest quarterly earnings were positive.
According to Chris Sponiar, general manager, Toys and Seasonal, Walmart e-commerce U.S., "online shoppers will have options like free, two-day shipping or pickup today on millions of items. Customers can get their toys however they like, either straight to their door or at a Walmart store."
According to the Toy Industry Association, the United States toy market is worth $22 billion a year.