Maker of Hit Toy Hatchimals Hatches a Plan to Win ChristmasMaker of Hit Toy Hatchimals Hatches a Plan to Win Christmas https://c-suitenetwork.com/wp-content/uploads/2017/07/maker-of-hit-toy-hatchimals-hatches-a-plan-to-win-christmas.png 642 428 C-Suite Network https://c-suitenetwork.com/wp-content/uploads/2017/07/maker-of-hit-toy-hatchimals-hatches-a-plan-to-win-christmas.png
Something is hatching this October. Spin Master, the Toronto-based company behind Hatchimals, the “it” toy of 2016, is preparing for the second iteration of its popular hatching egg toy. But unlike last year, when stores sold out in minutes and desperate parents paid as much as $500, more than eight times the original $60 price, for the privilege of having the must-have item under their Christmas tree, the toymaker will not be caught off-guard.
“It wasn’t that supply wasn’t there—it was an aggressive supply,” explained Tara Tucker, VP of global marketing and communications at 23-year-old Spin Master, which also owns Paw Patrol and Etch A Sketch. “It just caught on so quickly and exceeded anyone’s expectations.” She noted that consumers lined up for Hatchimal product drops as early as 4 a.m. in the months following the brand’s October 7 debut last year. One analyst estimated two million units were sold, generating some $80 million in revenue, according one CNN Money report.
Some retailers are dedicating more space to toys this holiday in an effort to boost sales and encourage in-store visits. JC Penney announced last week it will operate toy shops…