Having filed for bankruptcy in September, the holiday season will be more important than ever for Toys “R” Us.
This year, the company is starting its holiday catalog and deals a month before Black Friday.
Toys “R” Us says:
“Black Friday is only a little more than a month away, but the deals are starting even sooner. Loyal Toys “R” Us shoppers can expect to find copies of this year’s highly-anticipated holiday catalog, The Ultimate Guide to Play – in homes beginning Thursday, October 19 and in newspapers on Sunday, October 29. With 41 percent of customers starting their shopping in October, Toys “R” Us is kicking off hot deals beginning Thursday, October 26 running through Saturday, November 18, including on items from the company’s Holiday Hot Toy List that are topping kids’ wish lists…”
The store will also launch “Parents Night Out,” an adult-only event to talk with shopping experts and see toy demonstrations, and “Play Labs,” areas in stores for kids to test out the toys.
It’s these kings of strategies that Syracuse University’s Professor of Retail Practice Amanda Nicholson suggested when we asked her about Toys “R” Us’ bankruptcy.
Nicholson says, “The worst thing about being in a crisis, is that you’re in a crisis. The best thing about being in a crisis, is that’s when people come up with really good innovations.”
The stores is also promoting its augment reality app, bringing stores to life in a game and reminding customers about their price match and layaway programs.
Professor Nicholson says what led Toys “R” Us to bankruptcy was that they completed with Walmart and Amazon, which both usually offers the same thing at a lower price.
She says, “They can’t get into a price war with these people. They’ve got to think of another way of making themselves more compelling.”
Unfortunately for Toys “R” Us customers in Central New York, while the Clay store will host “Parents Night Out,” it’s not one of the stores listed to get a Play Lab.