CHICAGO – August 9 – The next hot toys of the holiday season are arriving and soon marketers will have a new tool to help them deliver and promote what kids really want, thanks to a new offering from LA-based market-research firm ConsumerQuest. “The Kringle Report™,” the first research study to track kids’ holiday wish lists on an ongoing basis, debuts this fall and is offered exclusively on Collaborata, an online market-research marketplace. The study offers an ongoing, inside look at the toys and games kids say they want — in their own words.
“Toy manufacturers and retailers have had to rely on point-of-sale data for critical decision making, even building predictive models that do not reflect evolving shelf-sets and, frankly, kids’ changing requests,” said ConsumerQuest President Cory Schwartz. “This dynamic presents a real blind spot for the industry and an opportunity. ‘The Kringle Report™’ will allow toy brands, licensors, licensees, and retailers to stay ahead of trends by understanding what kids want now and what’s just beginning to bubble up.”
Each of the 10 waves of the study, to be conducted between September and December 2017 and into Spring 2018, asks 5- to 11-year-olds to name the toys and games they most want for the holidays. The study also measures awareness of new and promoted items at the SKU level, so that manufacturers can assess the impact that media plans and merchandising are having in breaking through the clutter. To help uncover potential up-and-coming licenses, children are asked what entertainment properties they most want in a toy or game, even if toys or games based on those properties do not yet exist. And to account for passion and intensity of demand, moms are asked the number of times their child has asked for each item on the wish list, the all-important “nudge factor,” Schwartz explained.
Notably, the new study does not focus only on heavily promoted and best-selling items. “By spotting the next product trend like spinners, hoverboards, or loombands, ‘The Kringle Report™’ can allow a savvy marketer to become first-mover before an item becomes generic,” said Jimmy Zollo, Collaborata’s CEO, whose online platform is marketing the research.
Schwartz, who has spent his career researching kids and toys, concurred. “This research will help mitigate toy companies’ risk and anxiety about the holiday season, enabling them to monitor competitive products, proactively adjust media spend, minimize 2018 markdowns, support ad claims for high-ranking products, and gauge the future of key licensed properties prior to actual sales.”
“‘The Kringle Report™’ will enable brands to stay ahead of competitors before sales accelerate or the market oversaturates. This research moves the information cycle up to prior to purchase, so companies don’t have to take the risk of excessive carry-over and can target high-demand products with greater confidence,” added Zollo.
For details about the research and a preview video, which is offered in both a boys and girls version, click here.
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ConsumerQuest, Inc. is a full-service market research firm that has been conducting market research with kids in the toy and game industry for more than 25 years. The company has conducted more than 500 research projects with children and moms. Its roster of clients includes the largest companies in the toy and youth entertainment industry as well as many smaller, growing companies.
As the market-research marketplace, Collaborata is the first global platform connecting clients to buy or co-fund research projects executed by vetted experts. Founded in 2016, the Chicago-based startup enables research clients and suppliers to customize projects and share results while dramatically reducing costs.