Latest / Omni Talk Retail / Fast Five Shorts | SHEIN And Temu Are Making Inroads On The Toy Market
Transcript
- 0:00Shein
- 0:00and
- 0:01Temu
- 0:02have
- 0:02branched
- 0:02further
- 0:03into
- 0:03the
- 0:04toy
- 0:04market.
- 0:04According
- 0:05to
- 0:05Reuters,
- 0:05both
- 0:05Temu
- 0:06and
- 0:06Shein
- 0:06are
- 0:06looking
- 0:07to
- 0:07win
- 0:07a
- 0:07bigger
- 0:08slice
- 0:08of
- 0:08the
- 0:08global
- 0:08market
- 0:09for
- 0:09toys,
- 0:09which
- 0:10fuel
- 0:10sales
- 0:10for
- 0:11retailers
- 0:11during
- 0:11the
- 0:12holiday
- 0:12season.
- 0:13Toys
- 0:13drove
- 0:13$108.7
- 0:15billion
- 0:15in
- 0:16sales
- 0:16globally
- 0:16in
- 0:152023,
- 0:17according
- 0:18to
- 0:18Market
- 0:19research
- 0:19firm
- 0:19Circana.
- 0:20At
- 0:21Shein,
- 0:21which
- 0:21became
- 0:22popular
- 0:22selling
- 0:22$5T
- 0:23shirts
- 0:23and
- 0:24ten
- 0:24dollar
- 0:24sweaters,
- 0:25toys
- 0:25are
- 0:25one
- 0:25of
- 0:25the
- 0:25fastest
- 0:26growing
- 0:26categories.
- 0:27A
- 0:27spokesperson
- 0:28for
- 0:28the
- 0:28site
- 0:29said
- 0:29toys
- 0:30have
- 0:30seen
- 0:30double
- 0:30digit
- 0:31percentage
- 0:31growth
- 0:31in
- 0:31sales
- 0:32volume
- 0:32on
- 0:32Shein's
- 0:33platforms
- 0:33year
- 0:34over
- 0:34year.
- 0:35TEMU
- 0:36also
- 0:36said
- 0:36it
- 0:36is
- 0:37seeing
- 0:37an
- 0:37increase
- 0:38in
- 0:38searches
- 0:38for
- 0:39toys
- 0:39by
- 0:39prospective
- 0:40shoppers.
- 0:41So
- 0:41both
- 0:41Shein
- 0:42and
- 0:42Timu,
- 0:42however,
- 0:43some
- 0:43companies
- 0:43like
- 0:44Barbie
- 0:44maker
- 0:44Mattel,
- 0:45do
- 0:45not
- 0:45sell
- 0:46directly
- 0:46to
- 0:47TEMU
- 0:47or
- 0:47Shein
- 0:48and
- 0:48its
- 0:48distributors
- 0:49are
- 0:49not
- 0:49authorized
- 0:50to
- 0:50do
- 0:51so,
- 0:51according
- 0:51to
- 0:52a
- 0:52Mattel
- 0:52spokesperson.
- 0:53Chris,
- 0:54where
- 0:54do
- 0:54you
- 0:55land
- 0:55on
- 0:55this?
- 0:55Are
- 0:56you
- 0:56concerned
- 0:56at
- 0:56all
- 0:56about
- 0:57TEMU
- 0:57and
- 0:57Sheen
- 0:58selling
- 0:58toys?
- 1:00This
- 1:00might
- 1:01surprise
- 1:01people.
- 1:01I'm
- 1:01actually
- 1:01not
- 1:02at
- 1:02all
- 1:02concerned
- 1:02about
- 1:02it.
- 1:03You
- 1:03know,
- 1:04I
- 1:04don't
- 1:04think
- 1:04it's
- 1:04a
- 1:05big
- 1:05issue,
- 1:05honestly.
- 1:05I
- 1:05think
- 1:06this
- 1:06is
- 1:06the
- 1:06future.
- 1:06I
- 1:06think
- 1:07this
- 1:07is
- 1:07where
- 1:07things
- 1:07are
- 1:08headed.
- 1:08Anne
- 1:09and
- 1:09the
- 1:09reason
- 1:09I
- 1:10say
- 1:10that
- 1:10is
- 1:10the
- 1:10beauty
- 1:10of
- 1:10Shein
- 1:11and
- 1:11Temu
- 1:12is
- 1:12that
- 1:12they
- 1:12give
- 1:13access
- 1:13to
- 1:13products
- 1:14to
- 1:14a
- 1:14lower
- 1:14income
- 1:15demographic
- 1:15via
- 1:15their
- 1:16technology
- 1:16platform.
- 1:17They're
- 1:18essentially
- 1:18using
- 1:19technology
- 1:19to
- 1:20reach
- 1:20new
- 1:20consumers.
- 1:21That's
- 1:21the
- 1:21beauty
- 1:21of
- 1:21what
- 1:22their
- 1:22platforms
- 1:22do.
- 1:23And
- 1:24I
- 1:24would
- 1:24add,
- 1:24I
- 1:25actually
- 1:25think
- 1:25the
- 1:25toy
- 1:26companies
- 1:26should
- 1:26jump
- 1:27into
- 1:27this
- 1:27relationship
- 1:28because
- 1:28they
- 1:28could
- 1:28actually
- 1:29sell
- 1:29their
- 1:29products
- 1:30direct
- 1:30from
- 1:30factory
- 1:31at
- 1:32more
- 1:32profit
- 1:33than
- 1:33doing
- 1:33it
- 1:33themselves
- 1:34in
- 1:34the
- 1:34States
- 1:34and
- 1:34thereby
- 1:35counteract
- 1:36the
- 1:36dupe
- 1:36factor
- 1:37more
- 1:37overtly.
- 1:38That's
- 1:38what
- 1:38I
- 1:39think.
- 1:39Right?
- 1:39Because
- 1:40the
- 1:41key
- 1:41point
- 1:41to
- 1:41this
- 1:41headline,
- 1:42and
- 1:42this
- 1:42is
- 1:42what
- 1:42it
- 1:43always
- 1:43comes
- 1:43back
- 1:43to,
- 1:43Ann,
- 1:44the
- 1:44key
- 1:45point
- 1:45to
- 1:45this
- 1:45headline
- 1:45is
- 1:45that
- 1:46people
- 1:46are
- 1:46searching
- 1:47for
- 1:47these
- 1:47products
- 1:48on
- 1:48these
- 1:48platforms,
- 1:49which
- 1:49means
- 1:50people
- 1:50want
- 1:51to
- 1:51buy
- 1:51them
- 1:51from
- 1:52them.
- 1:52Right?
- 1:53So
- 1:53it's,
- 1:53so
- 1:54it's
- 1:54time
- 1:54to
- 1:54get
- 1:54on
- 1:55board.
- 1:55And
- 1:55Sheen
- 1:55and
- 1:55Temu,
- 1:56you
- 1:56know,
- 1:57they
- 1:57give
- 1:57you
- 1:57an
- 1:57advantage.
- 1:58And
- 1:58the
- 1:58other
- 1:58point
- 1:58about
- 1:58this,
- 1:59which
- 1:59I've
- 1:59talked
- 1:59about
- 1:59on
- 1:59the
- 1:59show,
- 2:01you're
- 2:01never
- 2:01going
- 2:01to
- 2:01be
- 2:02out
- 2:02of
- 2:02stock
- 2:02on
- 2:03toys
- 2:03with
- 2:04your
- 2:04consumer
- 2:04and
- 2:05consumer
- 2:05ever
- 2:05again.
- 2:06That's
- 2:06what
- 2:06this
- 2:07technology
- 2:07allows
- 2:08you
- 2:08to
- 2:08do
- 2:08and
- 2:08that's
- 2:09how
- 2:09you
- 2:09can
- 2:09extend
- 2:09your
- 2:09reach
- 2:10and
- 2:10your
- 2:10relationship
- 2:10with
- 2:10your
- 2:11customer.
- 2:11Never
- 2:12out
- 2:12of
- 2:12stock
- 2:12again.
- 2:12Let
- 2:12that
- 2:13statement
- 2:13sink
- 2:13in.
- 2:14Because
- 2:14if
- 2:14you
- 2:14think
- 2:15about
- 2:15it
- 2:15and
- 2:15you
- 2:15design
- 2:16it
- 2:16the
- 2:16right
- 2:16way,
- 2:17that
- 2:17can
- 2:17happen.
- 2:17And
- 2:18in
- 2:18the
- 2:18long
- 2:18run
- 2:19that
- 2:19also
- 2:19means,
- 2:20because
- 2:20this
- 2:20is
- 2:20the,
- 2:20this
- 2:20is
- 2:21where
- 2:21this
- 2:21is
- 2:21where
- 2:21we
- 2:21are
- 2:22today,
- 2:22you
- 2:22know,
- 2:22low
- 2:23price.
- 2:23But
- 2:23in
- 2:24the
- 2:24long
- 2:24run,
- 2:26that
- 2:26will
- 2:26allow
- 2:26the
- 2:27toy
- 2:27manufacturers
- 2:27or
- 2:28anyone
- 2:28else
- 2:28that
- 2:28wants
- 2:28to
- 2:28participate
- 2:29on
- 2:29the
- 2:29Sheen
- 2:29and
- 2:29Temu
- 2:30platform
- 2:31to
- 2:31eventually
- 2:32place
- 2:32their
- 2:32products
- 2:32at
- 2:32a
- 2:33price
- 2:33premium,
- 2:34even
- 2:34though
- 2:35the
- 2:35play
- 2:35is
- 2:35at
- 2:35the
- 2:35opposite
- 2:36end
- 2:36of
- 2:36the
- 2:36spectrum
- 2:36right
- 2:36now.
- 2:37Like,
- 2:37you
- 2:37can
- 2:37get
- 2:37this
- 2:38special
- 2:38GI
- 2:38Joe
- 2:39toy
- 2:39direct
- 2:39from
- 2:40factory
- 2:40whenever
- 2:40you
- 2:40want.
- 2:41You
- 2:41got
- 2:41to
- 2:41wait
- 2:41a
- 2:41little
- 2:41bit
- 2:42longer,
- 2:42but
- 2:42hey,
- 2:43it's
- 2:43there
- 2:43for
- 2:43you
- 2:44whenever
- 2:44you
- 2:44want
- 2:44it.
- 2:45We'll
- 2:45make
- 2:45it
- 2:45for
- 2:45you.
- 2:46Done.
- 2:46That's
- 2:46the
- 2:46beauty
- 2:47here.
- 2:47And
- 2:48I
- 2:48can't
- 2:48wait
- 2:49for
- 2:49people
- 2:49to
- 2:49get,
- 2:50get
- 2:50that
- 2:50idea
- 2:51or
- 2:51that
- 2:51punchline,
- 2:51the
- 2:51joke
- 2:52and
- 2:52see
- 2:52what
- 2:52happens.
- 2:53Yeah,
- 2:53I
- 2:53mean,
- 2:54I
- 2:54think
- 2:54that
- 2:54the
- 2:54key
- 2:55point
- 2:55here
- 2:55is
- 2:55that
- 2:56you're
- 2:56opening
- 2:56up
- 2:56your
- 2:57brand
- 2:57to
- 2:57more
- 2:58consumers.
- 2:59Not
- 2:59just
- 2:59more
- 2:59consumers
- 3:00in
- 3:00the
- 3:00US
- 3:01but
- 3:01more
- 3:01consumers
- 3:02around
- 3:02the
- 3:02world
- 3:03and
- 3:03more
- 3:03consumers
- 3:04in
- 3:04different,
- 3:05across
- 3:05different
- 3:06socioeconomic
- 3:07backgrounds.
- 3:07And
- 3:07I
- 3:08think
- 3:08that
- 3:08that's
- 3:08the,
- 3:09that's
- 3:10the
- 3:10key
- 3:10thing
- 3:10here.
- 3:11You're,
- 3:11you're
- 3:12allowing
- 3:12more
- 3:13people
- 3:13to
- 3:14access
- 3:14your
- 3:14product.
- 3:15And
- 3:15I
- 3:15don't
- 3:15see
- 3:16what,
- 3:16what
- 3:17the
- 3:17issues
- 3:18could
- 3:18be
- 3:18with
- 3:18that.
- 3:18And,
- 3:19and
- 3:19really,
- 3:19I
- 3:19think
- 3:20what
- 3:20you're
- 3:20doing
- 3:21is
- 3:21you're
- 3:21putting
- 3:22that
- 3:22premium
- 3:23on
- 3:23how
- 3:23soon
- 3:24you
- 3:24want
- 3:24to
- 3:24get
- 3:24it.
- 3:24Like,
- 3:25sure,
- 3:25yeah,
- 3:25if
- 3:25I
- 3:26want
- 3:26to
- 3:26go
- 3:26to
- 3:26Walmart
- 3:26tomorrow
- 3:27and
- 3:27I
- 3:27want
- 3:27to
- 3:27pick
- 3:27up
- 3:28that
- 3:28GI
- 3:28Joe
- 3:28toy,
- 3:29like,
- 3:29yeah,
- 3:29it's
- 3:30going
- 3:30to
- 3:30cost
- 3:30you
- 3:31twice
- 3:31as
- 3:31much.
- 3:31But
- 3:31if,
- 3:32if
- 3:32you're
- 3:32willing
- 3:32to
- 3:32wait,
- 3:32you're
- 3:33willing
- 3:33to
- 3:33plan
- 3:33ahead
- 3:33like
- 3:34we
- 3:34all
- 3:34used
- 3:34to
- 3:35do,
- 3:35and
- 3:36you
- 3:36can
- 3:36wait
- 3:36for
- 3:37that
- 3:37same
- 3:37product
- 3:38to
- 3:38come
- 3:38from
- 3:38the
- 3:38same
- 3:39factory
- 3:39and
- 3:40wherever
- 3:40it's
- 3:40being
- 3:41made
- 3:41overseas,
- 3:42that,
- 3:43that
- 3:43there
- 3:43are
- 3:44people
- 3:44that
- 3:44will
- 3:44do
- 3:44that.
- 3:45And
- 3:45I
- 3:45think
- 3:45that
- 3:46way
- 3:46you're
- 3:46just
- 3:46putting,
- 3:47you're
- 3:47putting
- 3:47the
- 3:47premium
- 3:48on
- 3:48convenience.
- 3:49You're
- 3:49not
- 3:49putting
- 3:50the
- 3:50premium
- 3:50on
- 3:51access
- 3:51to
- 3:51your
- 3:51products.
- 3:52And
- 3:52so
- 3:52that's,
- 3:53that
- 3:53to
- 3:53me
- 3:53makes
- 3:54the
- 3:54most
- 3:54business
- 3:55sense
- 3:55for
- 3:55these
- 3:55toy
- 3:56companies.
- 3:56And
- 3:57I
- 3:57think
- 3:57it's
- 3:57going
- 3:57to
- 3:57be
- 3:58potentially
- 3:58troublesome
- 3:59for
- 3:59Walmart
- 4:00and
- 4:00Amazon
- 4:00and
- 4:01Target
- 4:01too,
- 4:01in
- 4:01the
- 4:01future
- 4:02if,
- 4:03if,
- 4:03if
- 4:04these
- 4:04toy
- 4:04makers
- 4:04can
- 4:05open
- 4:05this
- 4:06or
- 4:06the
- 4:06manufacturers
- 4:07open
- 4:07up
- 4:08to
- 4:08new
- 4:08selling
- 4:09platforms
- 4:09like
- 4:09Timu
- 4:09and
- 4:10she
- 4:10into.
- 4:11Yeah,
- 4:11right.
- 4:11They
- 4:11said
- 4:11they
- 4:12have,
- 4:12like
- 4:12those
- 4:12three
- 4:13retailers
- 4:13have
- 4:1370%
- 4:14of
- 4:14the
- 4:14toy
- 4:14market,
- 4:14if
- 4:14I
- 4:15remember
- 4:15right.
- 4:15Anne.
- 4:15Right,
- 4:16right.
- 4:16Yeah.
- 4:16I
- 4:16mean,
- 4:16the
- 4:16interesting
- 4:17about
- 4:17this,
- 4:17like,
- 4:17with
- 4:18all
- 4:18the
- 4:18advances
- 4:19in
- 4:19technology
- 4:19right
- 4:19now
- 4:19and
- 4:20like,
- 4:21couldn't
- 4:21you,
- 4:21as
- 4:21Mattel
- 4:22say,
- 4:22like,
- 4:22couldn't
- 4:22you
- 4:22go
- 4:22to
- 4:22Sheen
- 4:23and
- 4:23be
- 4:23like,
- 4:23look,
- 4:23if
- 4:24you
- 4:24could
- 4:24promise
- 4:24me
- 4:25that
- 4:25you
- 4:25can
- 4:25use
- 4:25computer
- 4:25vision
- 4:26technology
- 4:26and
- 4:26AI
- 4:27technology
- 4:27to
- 4:28make
- 4:28sure
- 4:29that
- 4:29none
- 4:29of
- 4:29my
- 4:29Barbies
- 4:30appear
- 4:30on
- 4:31your
- 4:31site.
- 4:31I
- 4:32will
- 4:32give
- 4:32them
- 4:32to
- 4:32you.
- 4:33Right?
- 4:33Yeah.
- 4:33And
- 4:34that's
- 4:35what
- 4:35I.
- 4:35That's
- 4:35what.
- 4:35That's
- 4:36the
- 4:36deal
- 4:36you
- 4:36have
- 4:36to
- 4:36make
- 4:36with
- 4:36me.
- 4:37I
- 4:37would
- 4:37think
- 4:37Sheena
- 4:38Timo
- 4:38would
- 4:38jump
- 4:38at
- 4:39that
- 4:39opportunity
- 4:39to
- 4:40do
- 4:40that
- 4:40and
- 4:40make
- 4:40sure
- 4:40that
- 4:41that
- 4:41was
- 4:41happening
- 4:41for
- 4:42them,
- 4:42because
- 4:42that's.
- 4:43There's
- 4:43just
- 4:43a
- 4:43lot
- 4:44of
- 4:44opportunity
- 4:44there,
- 4:44when
- 4:45you
- 4:45think
- 4:45about
- 4:45it
- 4:45that
- 4:45way.
- 4:46Yeah,
- 4:46you
- 4:46would
- 4:46think.
- 4:47I
- 4:47mean,
- 4:47that's
- 4:47the
- 4:47number
- 4:48one
- 4:48thing
- 4:48that
- 4:48I
- 4:48feel
- 4:49like
- 4:49in
- 4:49researching
- 4:49this
- 4:50story.
- 4:50Like,
- 4:50there's
- 4:50a
- 4:50lot
- 4:51of
- 4:51these
- 4:51toy
- 4:51makers
- 4:52who
- 4:52are
- 4:52still
- 4:52claiming,
- 4:53like,
- 4:53look,
- 4:53there's
- 4:54toys
- 4:54on
- 4:54there
- 4:54right
- 4:55now
- 4:55that
- 4:55are
- 4:55copies
- 4:56of
- 4:56mine.
- 4:56And
- 4:56then
- 4:57they
- 4:57get
- 4:57taken
- 4:57down.
- 4:58But
- 4:58then
- 4:58the
- 4:58onus
- 4:58is
- 4:59on.
- 4:59The
- 4:59probably
- 4:59are
- 4:59on
- 4:59Amazon
- 5:00too,
- 5:01Right?
- 5:01Exactly,
- 5:02Exactly.
- 5:02I
- 5:02mean,
- 5:02I
- 5:02think
- 5:03this
- 5:03is.
- 5:03This.
- 5:03This
- 5:03was
- 5:04always
- 5:04a
- 5:04problem.
- 5:04It's
- 5:05happening
- 5:05in
- 5:05the
- 5:05dollar
- 5:06stores.
- 5:06Like,
- 5:07yeah,
- 5:07you
- 5:07have
- 5:08fall
- 5:08off.
- 5:09Instead
- 5:09of
- 5:09Olaf
- 5:10being
- 5:10sold,
- 5:10like,
- 5:11what
- 5:11are
- 5:11you
- 5:11gonna
- 5:11do?
- 5:11You're
- 5:12gonna.
- 5:12Like,
- 5:12are
- 5:13you
- 5:13gonna
- 5:13go
- 5:13into
- 5:13every
- 5:13Dollar
- 5:14tree
- 5:14store?
- 5:14You.
- 5:14You
- 5:15had
- 5:15somebody
- 5:15on
- 5:15that.
- 5:16But,
- 5:16you
- 5:16know,
- 5:16like,
- 5:17this
- 5:17is
- 5:17just
- 5:17the
- 5:17cost
- 5:18of
- 5:18doing
- 5:18business,
- 5:18I
- 5:19think,
- 5:19but
- 5:20at
- 5:20the.
- 5:21At
- 5:21the
- 5:21potential
- 5:22for
- 5:22so
- 5:22much
- 5:22more
- 5:23business
- 5:23to
- 5:23be
- 5:23done
- 5:24if
- 5:24you
- 5:24can
- 5:24expand
- 5:25to
- 5:25these
- 5:25platforms.
- 5:26But.