Feature - New York Toy Fair

New York Toy Fair’s re-imagination

Toy World spoke to Steve Pasierb, president & CEO of The Toy Association about the upcoming New York Toy Fair. Taking place from Saturday, 30th September to Tuesday, 3rd October, this year marks a new timeslot for the trade show. Steve tells us how plans are shaping up for the event, which will naturally see some changes this year.

Moving the date of a show that has been held at the same time for decades is a major decision – have you been pleased with the reaction to the news?

A 2023 show that has significantly more exhibitors than the one last held in 2020 is the best reaction. Our Board of Directors is committed to listening closely and responding to the needs of our members and customers, and for many, the shifting retailer timelines focused on August/September deal-making became a major point. The decision to move four months did not come lightly, while the listening continues to this very day as the industry continues to evolve.

The move came at the same time as an in-depth, multi-year Toy Fair Reimagination Project, which included focus groups, surveys of toy manufacturers and retailers, and other research, along with consultation from an outside firm that specializes in trade shows. It was clear that Toy Fair is deeply beloved on so many levels by diverse audiences. It also became clear that the show’s timing was key; with September and February identified as the only viable time windows, and indicators showing a preference for September. While our goal is to serve the greatest expanse of the toy and play community, we recognize that there will never be a perfect solution for everyone. However, as an association serving an ever-evolving industry and ever-changing buying behaviours, there must be an ongoing willingness and ability to adapt and make pivots as part of our post-pandemic existence.

How is the show shaping up in comparison to preview events?

As of this interview, 950 companies are set to exhibit, and we have registrants representing 49 states and 71 countries signed up to attend. Toy Fair has every quality of a must-attend event for the global play community, where attendees and exhibitors will take advantage of the show’s world-class content and opportunities to meet their business needs. Additionally, 21 of the top 25 retailers representing the $40b US toy market, among hundreds of others, are registered to source the latest eye-catching products to draw in shoppers. That’s consistent with this point in the pre-show timeline of prior years while discussions continue.

The change of date has led to some discussion in the international toy community. Can you clarify the main reasons for moving the show forward by four months?

The shift came down to listening to our member companies, exhibitors, and a substantial portion of the retail community. Of course, the industry has changed and continues to change here after the pandemic with some past behaviours that no longer make sense and others that appeared changed but are returning to traditional ways. The goal of Toy Fair has always been to serve the greatest cross section of members, retailers, inventors and every other facet of the toy and play community. In this timeframe, it also presents a new opportunity for exhibiting companies to get more media eyeballs on product that is already available at retail for the critical holiday toy-buying season.

Is there any sense of what percentage of US retail buyers will be ready to start looking at selections at the end of September?

The overwhelming majority of toy deals in this $40b industry that move the market have their foundations in the August/September period. You have written eloquently in digital posts and in the pages of Toy World on the rise of Los Angeles and dealmaking in that timeframe. For specialty, late summer/early autumn is not optimal nor was February. Research and exhibitor feedback indicated Toy Fair in February served as a window-shopping trip with actual buying occurring in the months afterward.

Importantly, Toy Fair has a long history of meeting the needs of many kinds of stakeholders and serving the industry well beyond only the vendor-buyer connections made at the show. This includes network-building, education, trendspotting, media promotion and more.

New, dedicated sections at this year’s show reflect how play trends reach beyond the toy space and offer attendees new insights and avenues for growth. This includes the World of Toys Pavilion in partnership with Spielwarenmesse, featuring brands and playthings from around the world; other international Pavilions from France, China and India; a new Halloween Pavilion emphasizing the influence of those products and experiences; a Hot for Holiday display keyed into what families will be vying for in Q4 2023; and a Pet PLAYce section highlighting playful products for pets. All represent long-term growth opportunities.

Just as there were varied needs served for each group of stakeholders (vendors, buyers, financial analysts, the designer community, licensors, media, etc.) within the February timeframe, September 2023 will offer those and a variety of expanded and new avenues for growth as long as attendees are willing to take advantage. Plus, it’s yet another prime listening and feedback opportunity for us to hear from everyone.

Is it fair to assume that most of the exhibitors will be ready to show new ranges for autumn winter ’24 in September?

The pandemic greatly changed production cycles and the global supply chain in general, so many companies of all sizes have already moved up their development cycles to account for longer lead times, mitigate supply chain risks and remain competitive. Others are seizing the opportunity to finally get selections and catalogues completed earlier. Additionally, this is not a timeframe the industry is unfamiliar working within; many already use it as a window to preview their product to buyers.

Do you perceive any difference between showing new ranges in a preview setting, as happens in LA, and showing them in a traditional trade fair setting, as will be the case in New York?

Even at Toy Fairs of the past, many exhibitors have moved away from showing autumn/winter upfront and kept some of their holiday drivers behind closed doors, only choosing to preview to select groups. This included closed rooms within closed booths, so we do not anticipate the new timeframe from deterring the productive business-building that has traditionally taken place at the show.

Toy Fair also comes at a time when companies have already had some early reads on POS data, which can better inform at-show discussions on trends and 2024 holiday planning.

In the past, US toy companies have often been concerned about not letting information about new lines into the public domain too early, for fear of being copied – is that a concern which has been expressed to you by any of the exhibitors?

This is not something that’s been expressed by exhibiting companies thus far. While Toy Fair’s Visual Merchandising Initiative is designed to ensure that the show floor is not made up of closed-off booths and creates an inviting space for showgoers (media and buyers, in particular, demanded this change), how exhibitors choose to utilize the balance of their space and control who sees what product is still ultimately well within their control.

Do you have a sense of how many licensors will be comfortable with their licensees showing product openly at such an early stage of the selection process?

Again, no concerns have been expressed, and there has actually been some keen interest in the licensing community given the growing intersection of toy IP and licensing. In recognizing this immense value of licensing in the toy industry, Toy Fair 2023 will continue to showcase the powerful synergy between our two industries. And as an ideal environment for fostering new partnerships and collaborations, sparking innovation and propelling growth within the licensing and entertainment sectors, Toy Fair has already attracted licensors such as Disney Consumer Products, Moonbug Entertainment, NBCUniversal, Paramount, Sony Pictures and others registered to attend. Paramount is the sponsor of the Toy Fair Press Centre, underscoring the company’s belief in the show.

Is there a risk that the earlier show date could result in even more ‘secret’ rooms and some companies operating closed booths or ‘no media’ policies?

Completely closed booths are no longer possible, and all plans need to be pre-approved. Toy Fair leans further into its position as a meeting ground for media and relationship-building with new efforts like the Visual Merchandising Initiative, which is specifically designed to combat the aisles of closed-off booths. Through research, focus-groups and interviews as part of the Toy Fair Reimagination Project, the global retail buying community and media were clear on what they want and expect of the show. To provide engagement requested by the buying community and create new opportunities for exhibitors to leverage media attention, the Visual Merchandising Initiative requires exhibitors to make product visible in at least 20% of their aisle-facing booth space.

The fact that the show is taking place on the cusp of our industry’s most critical selling season should not be overlooked in terms of building buzz. Media love a sneak peek, but they also love to talk about what’s available on shelves right now and what will be hot for this holiday. Toy Fair’s reimagination invites companies to take full advantage of that; feature your key 2023 drivers up front, preview your 2024 spring items and give a sneak peek of your 2024 holiday product to your trusted partners in a more closed environment.

Do you see the show as predominantly catering for the US retail channel, or is there an aspiration for it to have a global retail audience?

Toy Fair has always attracted an audience from around the world. Global interest in the event is already strong, with registered buyers and attendees representing Australia, Brazil, Belgium, Canada, Germany, Hong Kong, Israel, South Korea, Mexico, the Netherlands, Nigeria, Peru, Poland, Spain, Turkey and dozens more.

At this stage, do you have any idea how many toy companies will be exhibiting in both LA and New York? And long term, do you see US toy companies being happy to support both events, or will they ultimately need to choose between the two?

This is an essential part of that quality I mentioned, of continued listening to our members, retailers and exhibitors that must happen combined with a willingness to shift and pivot. Change is the order of the day. There is no question interest and activity in LA continues to grow. Buyer reactions to that growth and what it takes of their heart and soul to add yet more appointments to their already busy and tiring LA travel are becoming a limiting factor. LA will continue to matter, just as a mass coming together of every aspect and facet of the broader toy community also matters. It’s not binary. Both will evolve. Mass retailers have told us they will do both. They will go to LA to see who they always see in LA, and they will come to Toy Fair to find the unexpected and innovation that is the heart and soul of the toy and play industry and essential to retail.

How will you judge the success of the event? And how many years do you feel you will need to evaluate if changing the show’s dates has been a successful move for exhibitors and retailers?

Success can only be judged in the eyes of those who exhibit and attend. We don’t get a say. While enthusiasm and actions taken among those audiences make it clear 2023 will be a great show, we are already looking years ahead, doing research, having direct candid conversations and staying eyes wide open that what worked yesterday, may not today and certainly isn’t likely to in the future. If we claim to be an industry of innovation, creativity, and entrepreneurialism, then those are the order of the day.

Toy Fair will take place from September 30th to October 3rd, 2023, at the Jacob K. Javits Center in New York City. Visit ToyFairNY.com to learn more.