December It is not only known for hosting the end-of-year festivities, but for being the month when the toy market is booming and manufacturing companies hope to top the wish lists of the little ones.
But, What happens when the demand for a gift exceeds all expectations? These are some products that came to turn Christmas shopping into ‘battlefields’ among buyers.
(See: Games, a market that moves US$224.00 million in the world).
The ’empty box’ from ‘Star Wars’
Between June and September 1977 the film came out ‘Star Wars: A New Hope’. And although at first no one knew what to expect from the bet of director George Lucas, the premiere of this intergalactic adventure became a phenomenon, resulting in hundreds of products that practically flew off the shelves.
The fever managed to carry over to the Christmas season, as the movie’s merchandise became the most requested gifts for children of the time. But this situation caught him off guard. kenner, the company in charge of producing the figures inspired by the tape, since it was not prepared to meet the high demand.
The company needed to act fast and make a new line of toys, but it was difficult. Finally, the solution to the wide demand took the form of a cardboard sheet that would serve as a kind of promissory note for customers to later claim the products when they became available.
The ‘Early bird’ or the ’empty box campaign’ had a simple concept: the strategy consisted of having parents go to toy stores to buy, for a price of $7.99 dollars ($34.17 dollars, value as of 2020), a piece of cardboard that had painted on the surface the 12 figures that the company promised to launch in the following months. The kit also included decals and a fan club membership.
(See: Global services trade ‘cooling off,’ WTO warns).
The campaign was a success for the company, which, during the run of the first three films in the saga, managed to sell more than 22 million ‘Star Wars’ toys per year.
Cabbage patch fever in the 80s
Does ‘The promised gift’ ring a bell? Arnold Schwarzenegger’s film about a father’s struggle to obtain the toy of the season to give to his son for Christmas is a classic that is often repeated at the holidays.
What is perhaps a new fact to hear is that the film was inspired by a true event: the riots caused by the shortage of Cabbage patch dolls at Christmas 1983.
The ‘cabbage dolls’, as they were known in Latin America, they had the peculiarity of being unique in their style. No two were exactly alike and they all came with their own birth certificates. These characteristics made them the most desired gift by children for the holidays.
coleco, the manufacturing company was aware of the popularity of its product. However, demand exceeded expectations: stores that had set aside between 200 and 500 dolls in their inventory were faced with thousands of customers pouring in at the doors hoping to buy one.
local news in USA They reported clashes between customers, people traveling from state to state to get the dolls, and long lines of shoppers who camped out in front of stores only to be met with empty shelves. These toys were even sold on the black market for triple their value.
(See: How much will Colombians allocate this year to Christmas shopping?).
By the end of 1983, more than 3 million cabbage patch dolls and, by the end of the decade, Coleco achieved sales of almost 2,000 million dollars with this product.
If you’re stressed about finishing the last of your Christmas shopping, take a moment to appreciate the sheer hysteria from 1983/84 when Cabbage Patch Kids took the world by storm.pic.twitter.com/90QjeXII8o
—Schnickelfritz! ? (@schnickILfritz) December 17, 2022
History repeats itself with the tickle Elmo
In 1996, what every kid in America wanted to find under the tree on Christmas morning was a elmo tickle, the toy inspired by the character from the children’s program ‘Plaza Sesame’ that began to gain notoriety after its exhibition in an interview show.
Just like the Cabbage patch in the 80s, Elmo tickled se skyrocketed in popularity and sold out in no time at stores. The newspaper The New York Times, for example, He came to report that a store in sold 380 units four minutes after opening.
At that time, the internet was beginning to gain importance, so you could find sales ads that offered the product, which cost approximately $30 in stores, for up to $1,000.
The most curious fact occurred when the brand Cartier exhibited in one of its windows a Tickle Elmo worth 1 million dollars. The purchase of this specimen, specifically, also included a 98.97-carat diamond necklace.
The Beanie Baby Bubble
Another toy that managed to cause a frenzy during the holiday season in the 90s were the Beanie babies. Some collectible stuffed animals that sold for approximately $5 dollars.
the manufacturing company, Ty Inc., began to launch new references in limited quantities. This scarcity gave them an added value that made them much more valuable to collectors, so they resold for hundreds of dollars.
(See: Commerce perceives weakening demand).
By 1998, Ty inc. It reached sales of 1,000 million dollars and multiple people, who saw this as an investment opportunity, decided to bet on the popularity of these stuffed animals, which seemed to have no limit.
The bubble of adorable creatures finally burst in 1999, when the demand for these products stopped moving and their market collapsed, leading many investors to go bankrupt.
BRIEFCASE
