Opinion - Rick Derr

Mid-year trade shows and their value

After 20 years working at A.C. Nielsen/D&B Research Company, Rick opened the first Learning Express Toys franchise in the Chicago area in 1996, and then became a sub-franchiser, opening 10 more stores. Although leaving the corporate environment behind, he has combined his expertise in data and numbers with a passion for the toy retail space. This month, Rick reports back from ASTRA’s 2024 trade show and discusses the role of mid-year trade events.

As you read this in early July, I’m sure the festive holiday season is furthest from your mind, right? Maybe not!

The third and fourth quarters represent 60% of our sales and having the right mix of product is critical to maximising those sales. The most important shows I attend each year are organised by ASTRA (the American Specialty Toy Retailing Association) and our own, very similar, Learning Express Convention. But why are they so important?

• Firstly, these shows allow us to learn about the latest new products and what releases are on the way for the rest of the year.

• Secondly, our social media and print calendar is built around products: purchasing the right quantities and selecting the appropriate add-ons, as well as the right in-store merchandisers, are critical to selling products. We need to see them in person.

• Thirdly, we take team members to shows for two main reasons: they buy better than me, and once they see items in person and decide to purchase, I’m reassured that they are on board and invested enough in the product to move it once it arrives in store.

• Finally, networking. I may only get to talk to key vendors, distributors and agents in person once a year so it’s imperative to discuss industry issues and, quite frankly, stay in the know. As a forward-looking retailer, I also want to know what’s coming in the new year so I can close out existing lines or ramp up a line accordingly, safe in the knowledge good new extensions or sizes are coming out the following year.

This year’s ASTRA show took place in America’s heartlandthe gateway to the westSt. Louis. The venue was spectacular, with a lot of space, which I like, all arranged in convenient and relaxed aisles. The mood was upbeat, despite a relatively quiet year for toys and games so far, and we came away with 14 new items/vendors that we are confident will make us money. I call them singles and doubles

(as opposed to a home run in our American baseball vernacular). There are: three games, three arts & crafts sets, two fashion/jewellery lines, two sensory toys, two fidget/pick-me-ups lines, one construction/STEM range and one snack/food item.

As you can see, we like our stores to contain plenty of new items and constantly stretch the boundaries of what we offer our customers. In the US, the retailers that are continuing to grow are the discounters whose ranges provide a ‘treasure hunt’ element and a sense that if you don’t buy items right away, they will be gone. This treasure hunt effect is tangible, so we are trying to mimic it to some degree.

Of course, we still stop by the ‘big guys’ at the shows (Lego, Spin Master etc.) to make sure we’re on top of those suppliers, but since information on what’s coming down the line from them is more readily available anyway, it’s a better use of our time to scout out the small startups. Out of the 14 new suppliers we added, four were first-time ASTRA marketplace vendors. Kudos to them for investing in their ideas.

The other value of these two summer shows is their academic content. Both events feature education sessions dedicated to manufacturers, reps (or agents) and retailers. Many are enjoyed by mixed audiences, which helps attendees gain a perspective from all three parts of the ASTRA wheel. Topics include certified play expertise, MESH (Mental, Emotional, Social, Health) training, succession planning for indie retailers and social media use as a tool for growth, all of which is very timely and useful to members.

Additionally, I gain a lot from meeting inventors, product design companies, public relations firms, licensors and folks from the New York Toy Association in person. Throw in a dose of museum fun, a gala (I love that word) and simply sitting down to dinner with peers you know and people you’re meeting for the very first time, and these shows become unique and a must-attend for all. I encourage you all to get involved and stay involved with your industry events - especially in-person shows.