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M&A Recap
Recap!
The world may seem to still be in a bit of a mysterious place in regards to the pandemic that continues to linger, but with vaccinations in place and things slowly returning to normal, large gatherings are popping up in major cities.
It was no different in Minneapolis in early August as ASTRA’s Marketplace & Academy got back into full swing. The annual event scheduled for Orlando was canceled last year due to the pandemic, so retailers, vendors and manufacturers seemed to take full advantage at the Minneapolis Convention Center.
It was the venue’s first national trade show since COVID’s outbreak in early 2020, and ASTRA seemed to be the perfect fit to open things back up.
“ASTRA really brought pure joy to Minneapolis when we needed it the most,” said Jeff Johnson, the Executive Director of the Minneapolis Convention Center. “That group in particular came with so much positive energy. It was a fun time for everyone, and a fun time for us to serve them. It was really great to have people back in our building and exploring Minneapolis.”
Although COVID-19 still isn’t in the rear view mirror and attendees were mandated to wear masks while attending the event, there was clearly energy in the room.
While business was indeed being conducted over the four-day trade show, just the opportunity to interact again with others in the industry seemed to be a fresh take.
“It was great to see customers again that I hadn’t seen in a while. It was nice to be in the ASTRA environment,” said Tara Rubino, National Sales Manager for Douglas Cuddle Toys. “It was very, very healthy and very, very positive.”
Erin Griffin, sales rep for the Denverbased Erin Griffin Group, said not only was it nice to see people again, it made her job easier when repping games in particular.
Being able to sell games is obviously By Nick Guffey, The Toy Store much more efficient in person, she said.
“When I sell a game to a retailer as a During an Academy session at Marketplace & Academy, managers and store owners came together with Nick Tarzia rep, I use the knowledge I get from the manufacturer, I get the knowledge when retailers ask questions, and we have some (Owner of Awesome Toys and Gifts), and Nick Guffey (Manager of The Toy Store) for a conversation surrounding what has worked when it comes to hiring, and what has left managers and owners desiring more options. Discussions ranged game-play,” she said. “You can’t really do from needing more staff to navigating current employment circumstances to managing safety for both staff and guests. that by yourself. We get samples but that’s Attendees shared ideas for simple motivators and staff enrichment and identified strategic long term plans when it not quite the same. We did tons of zoom came to hiring and retaining staff to build the business (and not just the payroll expense!). things, but it’s just so much better when The big takeaway? Empathy and compassion can mean the world to your staff – remembering birthdays and you’re all together.” Heather Smith, the new president of The Good Toy Group, said there was some celebrating life events go a long way! Keep your store as a positive and uplifting environment: think snacks, your break room, and maintaining a clean and welcoming bathroom. Above all, prioritize an open line of respectful communication with your staff. concern entering Marketplace & Academy that there wasn’t going to be a lot of
orders written by retailers.
With gift markets in Dallas and Atlanta earlier in the summer, Smith said many orders were written prior to Marketplace & Academy.
“But that didn’t happen. People were writing a lot of orders and were really filling everything they could,” she said about Minneapolis. “That was so positive to see.”
Amy Anderson, Director of Sales for IScream, said their booth in Minneapolis was booked solid and that orders were indeed being written.
IScream focuses on clothing, bags and gifts, and Anderson said in-person trade shows work best for them.
“A lot of people like to see our goods. We change from season-to-season so we’re really trend based,” she said. “We always have new materials so it’s important for people to see it. We were writing orders, and we had reps in our booth writing orders. We really had people in our booth the entire time.”
IScream has 1700 active SKUs, and Anderson said it can sometimes take up to an hour to write an order.
“It was great,” she said. “We loved spending time with them.”
Although there was obvious precautions being taken throughout the weekend, Smith said it still felt like there was some sense of normalcy creeping back into the industry.
“There’s warmth in people-connections,” she said. “That warmth was able to be expressed in person even if socially distant. Given the uncertainties everyone has been dealing with, it was nice to feel some normalcy.”
Johnson said the convention center did all it could to keep everyone safe. Although things didn’t look the same as pre-COVID, he said it felt real.
“It felt like what we were supposed to be doing,” he said. “Opening our building up and opening our city up felt good and felt the same. Everybody in masks was a little different. It’s a good thing for right now, but obviously seeing those smiles and getting to know people is something that’s important, it’s part of that human interaction. That part was different, but otherwise it just felt good.”
Jane Hassan of Findlay, Ohio-based Smarty Pants toy store said she was grateful for the extra layer of trying to keep everyone safe. She, too, said she was writing orders the entire time in Minneapolis.
“I thought it was a great event and we took full advantage of it,” she said. “Seeing as we are still in a pandemic, it was a little nerve-wracking in some respects, but I think that the convention center did a fabulous job and were very respectful of making sure their staff was doing everything they could do to keep us safe.”
Next year’s event is scheduled for Long Beach, California from June 5-8. Depending on what the world looks like at that time, ASTRA is looking forward to another big event.
“It’s a start,” Griffin said of the 2021 event. “Who knows what’s going to happen, but Minneapolis was fantastic.” ASTRA
