It’s certainly been a case of ‘Phew, what a scorcher’ around these parts this week. After May and June, surely no-one is complaining? Actually, it turns out that some people are… I have spoken to a few retailers who have seen rather lacklustre footfall this week, presumably because it’s just too darn hot to head to the shops (although nothing like the temperatures being enjoyed by Southern Europe right now. 29 degrees is enough to put Brits off doing just about anything other than sitting in the garden or watching the Olympics).
That’s the problem with summer trading though. Too wet and everyone complains that they aren’t selling any Outdoor toys (and let’s be honest, some of the least cheerful people in this wonderful toy community just happen to work for Outdoor toy suppliers…). Too hot and nobody wants to go shopping. Arguably, you can’t win either way.
To add to the soporific feeling, the economy is just chugging along – recent wage rises will take a little time to filter through to bank balances, as will the interest rate cut announced by the Bank of England yesterday. On the plus side, it’s the first drop in the rate since the start of the pandemic in March 2020, so while it’s only a quarter of a percent, it is an indication that there is a direction of travel which will hopefully increase consumer confidence in the medium and long term.
I have noticed a few posts on LinkedIn from prominent toy and licensing stalwarts bemoaning the fact that so many businesses go into ‘standby mode’ over the summer, with some suggesting that they were even thinking of closing up for the month of August, like many Italian and Southern European companies do. Personally, I think that would be a mistake. Yes, it can get a little frustrating sometimes, sending multiple emails and leaving numerous voicemail messages, with not even a hint of a response, yet alone a firm decision. However, business is still ticking over, and surely there is no better time to steal a march on your competition than when they have the ‘out of office’ signs hung up.
In truth, the summer has always been, at best, a steady – and sometimes downright quiet – period for the toy market.
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