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Play it again. The once-defunct Toys “R” Us brand is being resurrected as a store-within-a-store concept. The toy retailer will have a footprint inside every U.S. Macy’s in the next few months, ranging in size from 1,000 square feet in smaller stores to up to 10,000 square feet in flagship locations.
Recession-proof? Toy giants Hasbro and Mattel are each reporting revenue growth for the second quarterthis year. What’s more, optimism from the companies seems high to hit year-end targets regardless of higher costs and a potential economic downturn.
Have another margarita. In a move that swings back from the recent trend in self-serve travel, hotel brand Hyatt has announced the creation of the “Inclusive Collection” – Hyatt’s recently rebranded title for its “all-inclusive” properties. The new brand comes with its own rewards tier in the World of Hyatt loyalty program and is a response to what Hyatt execs see as strong resiliency in this sector of the leisure travel market.
Big ticket for the big games. The NFL is expecting to get more than $2.5 billion for rights to its “NFL Sunday Ticket” streaming package. Google’s YouTube platform has jumped in to bid for this season’s lineup, joining other bidders, Apple, Amazon and Disney/ESPN.
Fun With Streamers
Netflix’s Big News. Ever since Netflix announced its ad-supported option, the industry has been long awaiting details. Netflix chose Microsoft as its advertising technology and sales partner and are projecting the start to be early 2023. Though much is still unknown, it is speculated Netflix will align with competitors’ pricing and number of ads.
House of Mouse. Disney secured $9 billion in advertiser commitments after its strongest upfront yet. 40% of the advertising dollars are said to go to streaming and digital. President of advertising sales and partnerships, Rita Ferro stated that Disney “entered our 2022-2023 upfront committed to executing on our strategic priorities—streaming, multicultural and inclusion, sports, and entertainment—and we delivered.”
Checking on the Kids
Book bags full of cash. Total U.S. spending on sending kids back to college is expected to top $74 billion according to the National Retail Federation. Grade school families are expected add an additional $37 billion. Unsurprisingly, electronics is the leading category in spending for both.
Gen Z Frugality? A recent survey found that the top reason more than half of Gen Z-ers (18 – 22) give for engaging with a new brand on social platforms is an offered discount. This even leads “they have products/services I need,” suggesting that if the price is right, the need is negotiable.
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