Is the toy and game business recession-proof?
No business is recession-proof. However, we do know that in difficult times, parents and grandparents have a tendency to skimp on themselves and try to take care of the children. Also, in times of recession, people tend to stay closer to family and home, and many times that means more board game playing and more time spent doing things together—that benefits us. People, even in difficult times, seek out innovation as long as it piques their imagination. Lastly, 80 percent of what we produce is sold for under $20. So, even though we are not recessionproof, we are in a much stronger position than most. One last question: Do you have a favorite toy? Many people ask me if I have a favorite toy. Having been in the business for about four decades, I now consider most of our toys like my children. How can you favor one toy over another? But I know that Mr. Potato Head will probably be upset with this answer. This interview was conducted for NACD New England’s Executive Speaker Series by Patri
