Lessons from Toys R us - How to Remain in Business and not Lose Brand Equity - Deepstash
7 days with Seth Godin

Learn more about marketingandsales with this collection

How to develop a growth mindset

How to think creatively and outside the box

How to embrace change

7 days with Seth Godin

Discover 31 similar ideas in

It takes just

5 mins to read

Digital/Online Is The Present And The Future

Digital/Online Is The Present And The Future

Every brand that is serious in securing equity in the market place must leverage every digital opportunity that exists.

But it is not just about having a website, it is about having a clear business strategy that leverages online opportunities to maximise sales. Clearly, Toysā€™rus could have done more with their online game.

The reason is simple - more consumers now opt for online shopping, but you need to attract them to your online store.

The moment you donā€™t take the digital space as seriously, youā€™re already taking major leaps backwards into extinction.

7

44 reads

Customer Experience Is A Game Changer

Customer Experience Is A Game Changer

The summation of all the interactions between your customer and your brand is the overall customer experience.

Leave a gap and the customer is already making their way towards your competition.

It is no longer about a good product only, there is more focus on how a customer feels through the experience shopping with you.

Both in-store and online shopping experiences of the old toysā€™rus were not as seamless as new decade consumer experiences. This is a major issue that leads to customer attrition in any brand.

7

44 reads

Convenience Is A Core Customer Need

Convenience Is A Core Customer Need

Shopping is clearly now an omnichannel experience with customers buying in store, online or switching across both experiences simultaneously.

Within these experiences is a huge customer need that must never be underestimated - Convenience.

Every winning brand know that it is not enough to have limited options. Customers want the flexibility of shipping choices, quicker delivery, various payment options and much more. At the core of this is convenience.

8

47 reads

Data Reveals More Than You Can Think

Data Reveals More Than You Can Think

If data is not seen as gold by any brand, then they are already coasting towards extinction.

But data is not just about seeing what is truly happening. It is also about making every attempt to anticipate where the market, customers and the business industry is heading.

The key here is to stay ahead of the game by anticipating market changes that can impact your business so you can make data-driven decisions to keep your brand afloat and winning.

7

36 reads

Listen To Your Customers

Listen To Your Customers

The last point is all about being customer centric. If Toysā€™rus had put just a bit more focus on listening to what their customers were saying, and studying what their customers were doing and not doing, it may have revealed risks and opportunities within the brand.

When you ignore the importance of the customerā€™s voice, you may just end up building a brand without the customers youā€™re looking to win in the first place.

No customers, no business!

7

36 reads

CURATED BY

sanmi

Built a CRM Tool. Company Founder. Consultant for Customer Service & Customer Experience

CURATOR'S NOTE

It took me a long time to believe that Toysā€™rus had truly disappeared from the streets of retail. While I am glad the brand is making its way back, here are some key business lessons for any brand that wants to stay in the marketplace.

ā€œ

stash-superman-illustration

Explore the Worldā€™s

Best Ideas

200,000+ ideas on pretty much any topic. Created by the smartest people around & well-organized so you can explore at will.

An Idea for Everything

Explore the biggest library of insights. And we've infused it with powerful filtering tools so you can easily find what you need.

Knowledge Library

Powerful Saving & Organizational Tools

Save ideas for later reading, for personalized stashes, or for remembering it later.

# Personal Growth

Take Your Ideas

Anywhere

Organize your ideas & listen on the go. And with Pro, there are no limits.

Listen on the go

Just press play and we take care of the words.

Never worry about spotty connections

No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.

Get Organized with Stashes

Ideas for your next work project? Quotes that inspire you? Put them in the right place so you never lose them.

Join

2 Million Stashers

4.8

5,740 Reviews

App Store

4.7

72,690 Reviews

Google Play

Ashley Anthony

This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!

ā€œ

Shankul Varada

Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.

ā€œ

Sean Green

Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.

ā€œ

samz905

Donā€™t look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.

ā€œ

Jamyson Haug

Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.

ā€œ

Laetitia Berton

I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!

ā€œ

Giovanna Scalzone

Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.

ā€œ

Ghazala Begum

Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.

ā€œ

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Access to 200,000+ ideas

ā€”

Access to the mobile app

ā€”

Unlimited idea saving & library

ā€”

ā€”

Unlimited history

ā€”

ā€”

Unlimited listening to ideas

ā€”

ā€”

Downloading & offline access

ā€”

ā€”

Personalized recommendations

ā€”

ā€”

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates