Party City is hoping to pick-up where Toys R' Us left off by announcing 'Toy City' -- a holiday pop-up which will open 50 stores across the United States this September.
In an official statement, the brand's CEO James Harrison said that, "The creation of a Toy City concept to complement our temporary seasonal retail strategy is a logical extension of our brand; one that will allow us to leverage our existing pop-up store capabilities and capitalize on the category whitespace that has recently been created."
Also noted in the official press release, is that Party City will incorporate an online or digital element to this retail venture, offering a contemporary approach to toy sales.
What's Driving This Trend
- Holiday Pop-up Stores
- Disruptive innovation opportunity: Creating temporary retail spaces during the holiday season to meet consumer demand for toys.
- Online Toy Sales
- Disruptive innovation opportunity: Incorporating a digital element to toy sales by offering an online platform for consumers to purchase toys.
- Category Whitespace
- Disruptive innovation opportunity: Capitalizing on the gap left by Toys R' Us closure by introducing Toy City and filling the void in the toy retail market.
Who This Affects Most
- Retail
- Disruptive innovation opportunity: Exploring the concept of pop-up stores to drive sales and engage consumers in a unique retail experience.
- Toy
- Disruptive innovation opportunity: Incorporating online sales and digital platforms in the toy industry to attract and reach a wider consumer base.
- E-commerce
- Disruptive innovation opportunity: Reinventing the online shopping experience for toys by offering an interactive and user-friendly platform for consumers to browse and purchase toys.
