Hasbro reportedly has a positive early read on the back-to-school season and believes its inventory position is strong heading into the holiday season.
The company expects its traditional toy business to see year-over-year growth in 2025 as the firm’s transformation continues, and it sees more growth opportunity in its digital business as it appeals to more customers who are of older ages, Hasbro CEO Chris Cocks said at a conference, Seeking Alpha reported Tuesday (Sept. 10).
Cocks also said during the event that partnerships are a key part of the company’s strategy, that Hasbro believe it is 10 years ahead of its competitors in the digital play category, and that the company has made emerging markets a priority, according to the report.
Dan Rawson, senior vice president of Hasbro Direct, told PYMNTS CEO Karen Webster in an interview posted in August that the company is focusing on leveraging fan engagement, subscription services and unique digital offerings as it continues to develop its digital and direct-to-consumer (D2C) strategies.
“The process of product development when it’s at its best is a conversation between us and the fan community,” Rawson said. “When a subscription does a great job of facilitating the fun that communities and families and friends can have together, well, I think that falls into the category of essential.”
Hasbro’s focus on partnerships is aimed at helping it reach consumers in more parts of their day-to-day lives, Cocks said July 25 during the company’s quarterly earnings call.
These efforts include Hasbro’s relationships with licensing partners and entertainment giants like Disney; a Peppa Pig theme park launched in Germany in partnership with Merlin Entertainments; and other collaborations that are central to the company’s ability to integrate its brands into more facets of consumers’ everyday lives.
“Partners are becoming more and more important to be able to extend brands into additional aisles, whether that’s the toy category or outside of the toy category, and additional experiences,” Cocks said during the earnings call.
Hasbro and other toy companies have also seen adult collectors splurging on premium dolls, figurines and similar items — a demand they’re meeting with their D2C offerings.