Adapt to Survive
(Continued from previous post)
In the decades that we have been in business we have had to change and adapt as the market changes and evolves. When the large mechanical feature doll business changed, we segued our mechanism skills to mechanical feature plush, and had renewed success with a string of successful Winnie the Poohs, Elmos, Mickeys, and other animatronic plush.
When the market for mechanical action games declined, we shifted away from game development.
Now, as prices continue to climb because of labor shortages, wage increases and for the toy industry in particular due to costly new requirements from CPSIA regulations, the kind of motorized, mechanical marvels that we have become known for are becoming too expensive for the market.
So, we have to adapt again to survive and thrive.
Any suggestions out there in the room? Yes, the young lady in the back . . .
Tags: adapt, survive, thrive, toy, toys, industry, market, manufacture, change, evolve, mechanical, doll, skill, mechanism, plush, winnie the pooh, elmo, mickey mouse, games, prices, labor, CPSIA, rules, regulations, expensive, marvels, suggestions