Ep. 106: The Evolution & Future of The Toy Industry
We already quick request once again if you could help us out by filling out our survey. It's at ibm podcasts. Dot com slash survey. This really helps talk to advertisers about the kinds of people. Listening to the show's really do appreciate your help. And we're going to be doing a random drawing and we'll be sending out some amtrak. Hope you enjoy that toys. It doesn't matter or does some positive grownups. one thing that brings unanimous sense of joy offers. I'd always be bringing families together. On a board game on igniting wants imagination it action figures. The collective effect on humanity of always is often under appreciated and the advent of digital hasn't slowed. Its place in award and has in actuality and this industry to evolve in multiple new is enabling us consumers to engage connect every franchise of toys in unique and interesting with some book it behind bars. So my the country manager of hasbro's statia india and the middle east on the show this week to discuss the evolution of the toys played in our lives but also look at how the industry itself as world and what the future holds. I'm to get ella read back with advertising dead though everybody. Welcome to another great week of the podcast pepper. If you aren't falling us on social media is twenty twenty one now. It's time you did it. End in twenty twenty. That was bad enough but now twenty. Twenty one you're really really should. It's the podcast on twitter. Facebook and instagram and a quick reminder to please help us out with our survey. Ibm podcasts dot com slash survey. We've had a number of you fill it out so far but we want to shatter last year's number right really really blow that up. Go fill out the survey there if you do. We'll select from the emails wwco submitted. And we'll be sending out some interesting track people. So what should he be listening to this week. I don't wanna talk about is the unprecedented episode. We did a triple crossover beneath bar. From storytellers and story so all from advertising his dad and garlic garage in from defaulter coffee. Podcast all got together and put together mega episode to check it out on. Whichever of their fiji wanted us available in all three on non-career the guy spoke about the history of alcohol in india has gone a longer history than people would think definitely do. Check it out another show. I want to call out this week a little bit note by model model cat to fantastic episodes this week. She did her first episode with up to the elections in kashmir and then she did another one. Richard told the story of how she faced right entity to interview benazir bhutto definitely check it out. I would that let me get you back to your show. Welcome come back to his dad with polish. I have been really excited to this episode. Because of doi's are the best thing in the world and you get the book around doi's or let 'em how is that. I give it on. Thank you so much giving me the abortion. You're to go on board and and talk about Seems a mutually favorite topic of discussion registries. It's it's actually being a exciting journey from your neo. The last four years. I've joined as drouin. Angie busy has dropped nations in india from scratch as you would have added has bruised. Dodgers spanish entertainment company and some of iconic brands include. Enough might've warning transformers feudal. Monopoly is a is a household name in india. So i'd say it's genuinely a- of a fantastic experience and a an enjoyable ended out high I think what's really amazing about the join us. She and specically enhance crew is an emmy your you know about. Fifty to sixty percent of our products completely change Driven by the latest trends of people love to and how they love in themselves give seeking new. What is the latest content in the entertainment. You know sort of our bedding domes of live action our episode content. That people are watching a Out of inspired Off all any new biden's that simply merge video game make the make the june of innovating on boys really exciting for us. I find more interesting because many think about toys in as a space One would assume that in awarded which is predominantly moved was it would be a lot of effects stewart in physical undergoing don but from what i'm hearing from from from what like read up before we started doing. This is almost being that the physical practice strong. If maybe not maybe even stronger. But what's been what's been great is that you've been able to build so many different ecosystems that owned it kind of almost kind of work together absolutely. I think i see these words as almost you know separate are you know devos from each other. The the the almost coexist and are inserted. Nato that in the as coming together to tell you the truth acting it. Beckstrom divided situation right at in. Gove the Prices yet in right now of i know has has made it more difficult for us to get out but i do know there the now more than ever families coming together and enjoying the time that they have each other. And that's why i don't has relaunched this campaign goal. Bring on the phone sometime ago. Which was a global initiative roy batteries with actor desert foster quality name family connections during extended Own and by the way you know. I know you've been gone too much amount of dyslexia origin. This in the but that does also help us break away from that and spend time with each other and having At the same time you know that aspect that i just mentioned that is a a a brilliant. Indoor with digital because honesty has hasbro Organization every manager brands business rights abroad development marketing e commerce via the event position each audiences Devender do in the future so a lot of our our new doors on new innovations religious sort of sourcing that the of joined aspect of a fantastic physically experience as vaginas delivering on the technology piece by by for example the monopolies banking that. You know you can. You can actually completely james your experience of pain monopoly and make people less similarly the brand range we have or life of design tractor does young children anti ordinary training but they have some amazingly advanced exceed features which allows us to get a very Expedients of injecting with also. It's it's it's. I think it's kind of convergence that i think we have almost excited by. If you had to look at the point when you can kicked off sitting the has brought up from now what have you seen as almost like trends and things that evidently gonna take in the space forward to pick a few and say what other What is being changed an also. What's change in actually looked at what you taught. Consumers were warned and war to realize sore would actually consuming against seats. Honest a really interesting journey. As i said over the last four years then One of the things that i think is really driving. Strong growth in the street is the increasing domestic demand for toys in india right which will be catalyzed by the country's strong economic growth rising disposable incomes so as a consequence of dak we warfied definitely sees almost euro. Your does a large variety of boy is currently available in the market ended. I was Ranges from traditional toys to construction dolls board games puzzles behind Stemmed is you know games right on And i honestly and it goes on. I'm sure if some of our failures like in all Action figures really sort of i end. Collector is also becoming a a big net. What's really amusing. But under those. How the order. Sam businesses award in india. I mean that that are just get so buying boys have you know. There's there's a whole new consumer segment on the ice cunard's are those who who can. If no one than memories as gins united buying to oblivion collect items that is also becoming a big opportunity citing go amongst them. That's why i know. I know from the funchal bob collection that you've been of me. That's that's that's something that action figures everybody else and it's interesting you mention this as well so we simply had my mom visiting among other things she kinda go back for me was my Gi joe sets from when i was a kid which kind of which are stored bell while and she brought them and i would three it or engaged. I think the reaction was okay. I'm gonna give it to a one. She spoiled them wrestle. The mindset does not work we of old on toys. I legally the adults part has been. I mean i feel that we find it open to your own toys but at some point in time you could him necessarily do that. I went the truth when you mentioned as such a rich history in india. It's probably won't go well known as in the country behind monopoly and i. I know i used to clear it. Sort of action figures from j. When i was it's so darn and completely understand the sentiment mature shedding net cody. Look at the fact that lower diesel international franchise that are coming into india. Holly you seen that Do have you seen the fact that business need to adapt it for consumers kind of also latch onto a little bit more. Or have you not have you seen that as agendas are there. I think it's it's kind of again. Just as i in the country surprises ron with the amazing level at which knowledge sort of know gotten trends policy. Go hand in hand with the traditional sort of demands. It's exactly the same for us. You know as as experiencing is joining has also because of on ten because of live entertainment and the game dove advances that are being made on communication. That is a. There's definitely an increasing demand for the latest in the vegas in domes of you know absolutely i end advanced technology advance stories. Electric toys at the same time is also fantastic space for you know for example monopoly and and what i love about when lee is that the brand is accused of artwork. Amusing is how it's been all. Its effect is the eighty fifth of inaugural by the. And you know it's amazing. How defenders is timeless classics to be enjoyed by future generations. So you know why. It is always demand. Stephen demand for those traditional games or toys the also see in advance divine for for lot of elitist and and and amusing ion items that either episodes in the global market. So you know again. It's a balance that i think you're seeing in innovate the evolution of demanding india. What's etc doable. The toy space. Because but i hear you speak aboard. I i i see genuine. It's not something if you don't this is not. This is something which i can. I can sense your your best network the space and what contacted towards so i think What what. I love indices this is. The industry is extremely dynamic. And it's on strictly changing. You know given the kind of trends and given the patterns. And what happens in the indian mind moment and i can tell you for example who is electable became a big fan. Danube yet has roadwork. Deb chen had a couple of successful interesting williams and launches in that can be leveraged at treasury and You know a again. I'm sure there's gonna be something that's gonna come up in the next year every iota. I think that is something interesting that happened. So i love the speed at which team Innovate and elites a uber would change itself. Do what's latest on what's new and what needs to be done. Implementing two kids as you said. I mean i think the whole truth. Amount of time spent on on districts screens and all of that going up or look at the fact that it's not as the of that industry is dying out. I think the industry's able book innovated in via dime and still drives solution that ended up engaging is now in our diets adding i i love that about the industry. And that's our mean this. You know into the sector bill clinton and toys for the longest. I feel didn't get they do in in the sense of really understanding worked role. They play in in people's personality. Dave logan greater. Nfl look at this online. The other is. I'm going to tweet me interesting. This at that. I can judge. A person will be with their own finances aboard a look at how they play monopoly. It kinda shows how they do their own money. Because that's how you play the game. I it as deep roots. Does that just looks like Hollywood can grow up with certain boys and how they've shaped us. And i love the point. Your thought on that. Look at that aspect of seeing it's kind of almost grooming people's mindset that just being something that's so as just for fun. Yeah absolutely right. I think Even before to certain sort of newest concepts here. I know you know there are agencies around the world that recommend does catches that i do that would have commended the importance of playing games. The home bank will be able to keep them similar. Good occupied and ensure that it helps in that order sort of development. And i think that's kind of what what we come as the value of lebron And i have to say this is something that's been a bit of johnny crossan indiana. It's not yet a fully deep-rooted concept them. But i love the fact that the new generation of patterns are definitely taking this to heart. And you do see that transformation occurring there's increased demand for you know educated board game. Boys are boys interactive an in each To develop fine motor skills or behind. I ford nation or or start to develop you know a certain analytical ways in which you need putting off please just an amazing example of being able to do that. They teach gives you can beach Trade with someone negotiations near than all of those planned aspects of funds development. Incidentally i would say. I know that today for look at the book. Dot expenditure india. It's really low at retrieve dollars which i compared even similarly developing markets Economies in the word. But i definitely see the increasing the foss based on that used me a lot of confidence that this market more than others is poised for the massive development and growth in the specter in the space has. He conquered a large partner. A because i'm guessing they would have been changes in hull you consumer's gonna them make sure they come in full which is and all that stuff Has has gone of the e com space gonna growing as well in india and across the A few business on that trend having once interesting again. Vote on the just as you would see in a relatively developing sector or industry of the route to market is still under development right. I i know that there is an expansion. That's happening you know that. It is like a hamlet other more organized players expanding their networks which really because they bribed right needed access or for children are two boys. But i think that's that's getting accelerated without the extent because of e commerce so we definitely have experienced that being a much. Bigger individual broten development is happening. A i know the best platforms today. That associating than zuma needs in the country claim. Dude each of more than ninety percent than gordon You know that that's definitely a factor and that means that enough of kids who cannot access a great quality toys. David do that through with this spat foam. And i think that that genuinely helps us again. Meet the lodger drawing needs off of this industry in the country and helps us fuel growth on moving today deduction what i also think is interesting with with a just. The space is is that I think twenty twenty has done more for people. Do you mentioned families wanting late. If let in some baseball yearn for something that is not as digital. I feel that we've come to value a lot of that. I know for a fact that we bought a bunch of board games as soon as some amount of econom- opened up midway through the year And had tried to find as many physical things for daughter. And i know a lot of my friends in northglenn who have done that and an increasingly seeing people move at expedients you at own expense just about in just catching up in vail kind of coming back to. I've seen more board games in people's houses in recent deals than i've seen in a long long time so so in a way i think that's also an industrial prevailing trend of going back to physical tonight absolutely adding. You're you're right. I mean look. There's also this matter of engaging in person right away. From the seemingly only presidents creams have come to dominate the lives of people working on computerized on all students attending the morte. So physically board games due off android at from the screen down to reading these spending more daimler andrei now and of course. People have the ability to the austin president by playing those games from the childhood the decades. And just of you know working on bus connections that i think view all been losing in this industry busy. I'm debut aubin running down. You know developing and putting in effort to focus on a job so korea more than ever. I think honesty on demand for his googly ending the bosnian directions among families and i think has risen games bringing children families together via doing all of this stuff that we just talked about learning creativity and most importantly of us having fun. Fm what's also happened. Is it seamlessly For defied think about Leagues apple's because allocate at home. But i just see how. She consumes toys fort hood. It's not it's not separated from everything so she voted since watch a bobby animated cd's on net flicks but she'll then play with Bobby similarly watch a watch of frozen deemed Acquired or go to our action figures official. I think for for the prison generation of kids. Growing up seamless in between okay. What's on the screen. Watch smart and it's become that in in the next frontier in many ways. And because i have dabbled with because i've i find these things. Funded is actually the air versions of those than how we can kind of. Use those to make the experience even more interesting. So if you're going to look at the future and so these trends which was seeing for the prices woods Water things from your experience in what you absorb understanding landscape radio see the industry moving thirteen. The the need is a billiard under their demand for toys can seamlessly move between these. Two species is going to increase. Definitely right because Beyond just the basics. I think children and families and patterns offering to look more Boys right so what else can i can. I get from these from news. Stories of course is always the fundamental life lessons that you on on board games done to shed accepting working harder than waiting for your daughter out of that of the sam dino as as i pink overlapping them so strongly further and further in their families and and making connections with them which i think is by not something that certainly the under died and reverse itself as soon as you know we we. We have the vaccine them. People are fetal kind of move. Our so i do feel that you know boys that will evoke feelings of nostalgia for create memories create meaningful interactions and to connect with your family is a vistula element At the same time on the other hand as entertainment and content becomes more and more important than the all are gradually shifting. Are maybe you Ingo in on streams watch discount bend rather than doing it in the traditional of going to movies here does or whatever as as based on that in austin entertainment. Also i think god wanted relevant because at the at the end of the day you want to be a part of the scientists avoid you want to capture the moment from that and and there is no bakery atwood than than a live action boy or an action figure or some sort of all over as that brings that moment alive that allows you live the omen drapes so i think of both of these as as as i said is that can that can that can actually provide a fantastic experience from from both are digital ecological physical world. Start to get more than more living so in a couple of these areas that i think they nasty removing blue and again you know offers us such an exciting exciting energy continue to in oregon So if i was a young person today he will always be an golf of amid might be people who will not be excited by looking toys. And i i would just say that i think for most of us ever hear this because I think it's kinda comes out. But if i wanted to be looking border the opportunities. What are the spaces. Which which. I might not realise I quit working in this indicted. Dusty which is if it's a massive is so much that is happening there. What would you say the space is that. If i had to own my skills are going to say okay i i. I'm gonna wanting to work in this space. What would those be. So we're interested wellness. Not just i think and because we specifically talking about india and worthy the avoids energies. There this offers for you. Know the younger generation in dumps off just futures good news in in this country. i have kind of underlines state-backed back recently. The prime minister made a big announcement of how the want to encourage making india for toys in and make deutsche auburn above activity in the country. Obviously what what is going to happen. What is already happening is that logos. Government departments are actively working the industry. Who ensure that manufacturing and sourcing in countries around and in fact again on this front has bruised up. The is right at the top by you know because we are the potentially the biggest of his in the country. We have a very strong partner base in the country that he was stabbed the last couple of years that has helped us a start making in exporting them. Out of the country of art from this or selling them domestically canard for example is already announced. A huge hundred growing white luster adapted. That's come up in gopal. Similarly the film industry to set up units at the upcoming manifesting. Being of us of what i uni. C is that across all different kinds of fears know manufacturing design development or assurance engineering or seen and then of course given this game to focus. That is going to be a lot more innovation that i believe is going to happen in india does want to be a lot of bike creators. Who are going to be inspired. The element is conducting hackman's or design workshops. There's going to be plans. That on upskilling people who start sort of attributing the sect amasses honesty. It it is going to be a big focus foreign investments in the country and again. I definitely see this thing offering a lot of opportunity in different fears when it comes to a working within this industry in and contributing to the of the auto industry. Do you also see a lot more of physical spaces. reputa- gonna come inexpedient. Stuff is kind of opening up on august reports some point but never that pointers. Have you seen interesting That as little so. I think great examples of this having happened in of other more mature markets. So that is there's a whole experience and W working with a partner in singapore on which has been highly successful militia. There's a billion sort of transformers expedients drive that. You can be a part of as part of the whole universal studios. Singapore guzzo doesn't really interesting formats. That have come up. ended entertainment definitely out blinds to do this. Never maybe over a couple of years in the future other than knowledge. Does i think now. I think we need to really focus on building back in ensuring the back even keeled am gonna focus enrolling nasty in the basics Agree in a slate segue. What was your favorite Growing up what does your were do. Dearly i loved the story line. I love the different. Does and i think. I obviously love rollerblade sitting with of course my little. Gi joe said ten and of course you know you know the guys in the back days fight with each other and of course the days you have to tell me which which one was your favorite goes that we've all had we all have erect addict. Or what are you saying. I was i was. I was always a split between. I think i was actually more more duke visa. Something about that. The which i for the old big bulky undefeatable. I don't call i'll hit you childish. I think there's there's genuine excitement. That comes who talk about the get. It goes in this league. Almost a part of our we are and so much more that we all look forward and this and the bench is is located. How everything's gonna scaling up and going that great. I also look stuff. That's that's home-grown is kind of anything specific in terms of Any plans stuff like that as well. So again. This is going back to what. I just mentioned. On the meek in india agenda and warfied definitely having inbox vid. The of an idea of a government bodies and partners is how is it. There began start us milk. Lynn sites through twin spires development of his within upward. For your so. You're definitely looking at ingesting. Innovations onboard jammed in a couple of other brands that begin seamlessly integrated and also kind of at advantage of india. Those so so that's definitely in the by plan and of us more to come as we as we develop goes. But it's definitely something that i'm i'm supposed to be excited by if i go back to off To now what would you say Bus cushion one is that. Is this what you wanted to do. benveniste started off. Was this the plan that i will eventually in the face. I will have the job of of knowing as much of what these as a lot of hope we would end. Secondly what happier learnings be noticed. I'm bored of you. Kind of learned patricia. Who's gonna stock. They might think and look. I need to know all these things in world war. Two buildings to the first question on nov was not I don't think that i started my gut. Had any clue on our end to end up in the industry. But i i was killed on one thing which i did want to be a part of organizations industries that i personally fake excited about and they kind of digitally sinking. Well with my own value is i think has bruised absolutely perfect in on those jobs. And that's why i think guys. Jv joy miami. Mike diamond my joining in has through and of course look forward to many more successful years of of being able to do this. I think the second question of the only thing that. I think i would love to talk about on that. Trump is knowing expedience. That you gotta walk through in life is Is is small audits. Non-relevant i think every little change every little project every little Know job week. Every living increase indispensability peaches. You got much more and what you need to do as accurate as just that change because honestly experiences rather than levels and job diapers and whatever else have you ought to be the ones that really teach you so much more than life so you know. Just enjoy the journey. Enjoy the expenses that you're wings and focus on giving us to do each of those and i think you you'd fly. That's all that i can say. As it comes was the end of every episode i do segment with all make s which which was which traditionally was called the humans a better dancing but overtime has just become a humans who come onto the sugarcoat have tended created for a dead. It's a bunch of random questions not necessarily about the work. Mortar board you. It also leads to some very interesting insight support. Guests are gonna come out so analog. These are standard. But i'm going to. I'm going to school. One of the ones which i which i found interesting. Sometimes what you spend a lot of time consuming obsessing or just like spending a lot of time doing which people who know you professionally would be surprised the extra Spent so much time doing what would be. I think i spend a lot of anger into i'm able to create value and and that can be any aspect of my life whether it is at my job it is you know what am i doing. Bush lead to be able to add value to myself or people at on me. I think that's something that that or or maybe even think a lot about You know during my time. Yeah what have you done. Two hundred eight to give yourself more value. We beyond the look. I think acushnet garden time. But on a one of the biggest thing that i i'm trying to office is remain connected to the beam just to sort of you know ensure that The a good place. So there's been a lot of town halls and an conversations that i think i've been having an also asthmatic Decently and taking over completely nudity by more by the other unbelievable expanded. I'm going to date now just trying to again. Make those connections understand where people are If i can. I can help them through to any challenges that they're facing. Yeah that's that's my Of all i'm in regard value create value. Have you seen the yourself. A leader of all because that could be very different way of working with teams and kind of a special wool cap is also making sure that people ought in the right hit space and How we've seen yourself evolve as a leader especially in this form of functioning. So honestly don't one aspect that i've been trying to work. Hard on is is being able to listen and listen even more giving me and look i mean. I think it's easier when you're not in a in a physical space when you're looking at people you you can. You are able to communicate quite openly. How you're interested and keenan and you are union or they're sing. It becomes all the more difficult than we are. We are doing this which Especially when you you sometimes don't on videos that us. Next another challenges zillion potent due to be able to communicate to the other person that you are open. You're listening you're really appreciate what's coming and also i team d. s. is expressing Just because you know these awed unbelievable names that i think whatever that via deputy seen predicted burgle they are giving that one hundred percent and things jim barton tank people enough to show the field recognize them and also give them agassi this space to be able to manage all of their personal data. This professional It's just was aspects of As i'm getting more and more conscious off android trying to bring in a in my day to day working is this something that you you overdose Listen to disconnect watch which you feel has been something that you will do. They come in for people. i've been reading this book. That was biogenic Me by by my boss. It's by mushy grossman or one. Could you get you there as an orderly like about the book is the unconscious annoying habits that that leaders ended up developing of the a fantastic level of success in a these get in gun legs and i think i worked. What i love about. The book is how you can actually do of introspection lacaille reticent that you are on your journey on these habits and how somebody simply safe's can can help you overcome them so this is something that's been it. I've been quite captivated by them. Come january donna locks from that and china play back in my own journey. I haven't listening don't that visible. I've just started which might actually be a nice follow up to what you're reading is a book called give and take It's it's by item. Greenwich support of helping does can drive your own success and leadership as the is might interest you sean. it was. It was gifted Reading city industrial does a hall back. This makes so much more sense introduce more than ever before and going with what this book where leadership award you just mentioned that thought. That would be a a nice for me to see this back to you. Thank you so much for coming and last question. why why. why did he go is never die. Gournay yeah boy toys as a something that we would constantly have never day as long as we keep the life. I don't think agent that is so true tank as much. Because i've i feel like i have a bunch of insights which i which i've taken off from this episode And i hope you enjoyed it as much as that. I've had absolutely thank you so much. And it's been lose your pleasure connecting and having a jack thanks. Thanks thanks not all the best for by working monday to friday. Luthier chair making you feel but he not get. Your fight will be reduced travel around the world. The postcards from november. Join me vetoes. Deep as they explored the strange obscure and fascinating parts of the world and bring our facets of travel. You may not have thought of before you can find us on the idiom podcast app. Bet site where you get your custom if you love cricket listen up the edges in sledge's cricket podcast is here for you hosted by dj environment and me ashwin. We bring a fun. Fresh fans point of view talking all things cricket. Sometimes it's just the three of us. Sometimes we have guests including current and former international cricketers for new episodes every week. Check out the edges sledge's cricket podcast on the website. Or wherever you get your podcast.