Five Things I Learned at Toy Fair

1.  Dozens of companies, large and small, are launching lines of collectibles.  Most incorporate some form of blind packaging, where consumers don't know exactly what they'll be getting inside.  Some are based on existing properties while others are completely new.  With so much competition in this space, there are bound to be more casualties than successes.  Attractive product, strong marketing (with a social media focus) and a lot of luck will be key to success.

Warner Bros. was handing out this promotional Scooby Doo blind pack at the door to Javits Center.

This is what I found inside.

I don't know the world of Scooby Doo very well, and have no idea who this character is.

2.  Traditional entertainment licensing models for toys based on movies and TV series remain valid, but new models are emerging based on social media properties and apps like Annoying Orange, Moshi Monsters, and Angry Birds, which are all poised to be significant in the world of kids' licensing.  Unlike the traditional movie/TV properties that are quick to be deemed successes or failures, online properties build at different rates.  Hopefully, retailers will judge them differently and not declare them to be immediate failures if they don't perform in the first few weeks on the shelf.

3.  I met many entrepreneurs launching great products at Toy Fair.  One key challenge they face, however, is that they don't know their competition, and don't even know that they should know their competition.  At the risk of sounding self-serving, I know they could benefit enormously by working with someone like me to help them position their brands/products against competition and secure placement at retail.

4.  Most consultants, inventors, and agents with whom I spoke said that 2010 and 2011 were both tough years, but are optimistic that things will be stronger in 2012.

5.  Finally, I used the Toy Fair official website to plan my days at Javits Center.  The tools on the website were quite cumbersome, but I learned that by planning my appointments and booth visits according to booth location, I minimized the amount of times I had to walk back and forth through the five block long convention center, making me less tired and more productive.