Remember this?
I don’t wanna grow up, I’m a Toys R Us kid
There’s a million toys at Toys R us that I can play with. . .
From bikes to trains to video games
It’s the biggest toy store there is. . .
I don’t wanna grow up, cause if I did
I couldn’t be a Toys R Us kid!
Well, while you were celebrating the 4th of July holiday, customers apparently grew up and Toys “R” Us abandoned any hope of survival following an absolutely dismal 2017 holiday season. They shut the doors at all 700 U.S. stores,
The brand was sold, re-purchased by its founder, and sold two more times, finally ending up at private equity firms Bain Capital, KKR, and Vornado Realty. In light of industry trends, shifting platform preferences, and customer disengagement, they gave up all hope of saving the brand, “classic” or not. The overseas business, sister brand, Babies “R” Us, and mascot, Geoffrey the Giraffe, are due to be axed too.
Social media lit up at the announcement of the demise of the brand, with folks swearing that they would always be Toys “R” Us kids.
But here’s the thing about “classic” brands. You need more than a catchy theme song, a mascot, or even real real estate. And you need a lot more than just a lot of tweets on social media.
You need real brand loyalty and customer engagement and the sales that always come with them.
And something more predictive of your brand’s future than promises made on social media.
Find out more about what makes customer loyalty happen and how Brand Keys metrics is able to predict future consumer behavior: brandkeys.com. Visit our YouTube channel to learn more about Brand Keys methodology, applications and case studies.
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