Diversity to Dollars: Translating Consumer Segmentation Into Revenue Opportunity
This one-hour webinar provided toy companies with an overview of the different type of consumers inhabiting the toys and play environment within the US and an understanding of the important role that market segmentation plays in how parents interact with their children to make discovery, purchase and shopping decisions.
All toy industry stakeholders. Recommended for retailers and toy companies involved development, marketing and advertising initiatives.
What You Will Learn:
The webinar discusses the importance of market segmentation beyond the traditional age and gender classifications that are commonly used, and introduce participants to the five market segments that NPD has discovered as a result of analyzing spending patterns, toy and play behaviors and attitudes towards toys, play and technology. This session explores the size and importance of each segment in terms of revenue, how they approach the play experience, which categories are most important and their shopping habits and retail preferences. The webinar will also include a discussion of how to think about these segments beyond interesting consumer portraits, and recommendations on how to apply them to marketing, product development or retailing.
Moderator: Anne McConnell, Director, Market Research & Data Strategy, Toy Industry Association, Inc.
Russ Crupnick, Senior Vice President, Industry Analysis, The NPD Group
Russ has spent several decades exploring consumer behavior and retail sales trends. He began in consumer packaged goods working on new product introductions, market development and retail trends. Russ built NPD’s Entertainment practice in the early “2000s” and rapidly developed a reputation for understanding market and consumer trends in the emerging world of digital distribution. He brought that history to NPD’s Toy practice to work with clients, retailers and media on understanding the changing complexion of the world of play. Russ is regularly quoted in major media such as the NY Times and Wall Street Journal, and has appeared as a guest on NPD, Fox Business News, CBS, NPD and CNBC. He is currently Executive In Residence at NYU where he lectures on marketing strategy, pricing and forecasting. Russ is proud to tell readers that he comes from toy lineage as his grandmother was with the American Character Doll company in Brooklyn, NY until its closing in the late 1960’s.
About The NPD Group:
The NPD Group provides market information and advisory services to help their clients make better business decisions. NPD introduced sales tracking in many of their industries, initially using consumer panels, and are known as the industry authority for market size and trends. NPD started the first retail tracking service for toys in 1984 and have launched services in more than a dozen industries since then. Today, The NPD Group tracks businesses representing over $1 trillion in sales in the Americas and more across Europe and Asia-Pac.