Squishies have been performing well for months. While sales to regular shoppers are excellent, their attraction of new traffic is even better.
This high-margin category is already outperforming fidget spinners in terms of full year bottom-line value to the business.
What you see in the lease line display is low in stock weight. Squishies turn fast: 4+ times in two months.
The display attracts kids, who pull in parents. The typical basket has two squishies and several other items from the business. This is where there is terrific value on the category for the business.
I also like that squishies fit with our broader toy and games pitch, enabling us to even better serve those shoppers.
I expect the opportunity with squishies to continue to Christmas and at least early into the 2019 holiday season. It is the direct imported products that are performing best for us as our range is competitive with Smiggle, K-Mart, Target and others in range and price.
This post is about more than squishies. It is about being opportunistic, early to engage with a trend, sourcing outside slower supplier channels, and, promoting widely outside the business to leverage the new traffic opportunities.
This is retail today – playing outside tradition, leveraging high margin and reaching out for new customers who might otherwise pass the business by.
Squishies are easy to dismiss as a cheap toy. In my experience and the experience of retailers who have been in this space for over a year, they are much more than a toy. They are a genuine opportunity for our businesses.
Footnote: to any trolls planning to comment here to seek to distract from the insights shared and the optimism of the opportunity, go on, knock yourselves out. The efforts three or four people are going to in comments here to distract from positive posts is extraordinary. You can see the strength off their concision by their anonymity.
Mark, to check what is hot at the moment just ask your children/grandchildren what is hot at school. My children have grown up over the years they were the best promoters of my products give them what they suggest they will take them to school and they their friends where they got them from. I recently asked a friends 11 year old what is hot and what is not she said Squishies are in and Beanie Boos are on the way out ,I wish I could take her to the trade fairs the young generations opinions can be invaluable!
I would be very surprised if Beanie Boos were on the way out
Peter I still have Beanie Boos but never dismiss the opinions of the targeted consumer they know what is hot and what is not talking between themselves at school birthday parties among others.Current trend is Squishies but I do not know how long for I do not think it will be long lived like the Beanie Boos.
Colin, I get data from a range of sources. This is what got me onto squishies well ahead of other retailers in Australia. I have held off writing about it here. Like squishies, Boos sell to many different shoppers for many different reasons. This is what makes them valuable and responsible to out of store promotion.
Part of our role as retailers to to grow the collector base of items we sell. Were do this through our of store engagement. It’s key to new traffic.