5/31/2023 0 Comments Build a bear workshop![]() The company has strategically shifted its location strategy beyond traditional malls to include non-traditional, tourist and destination locations that now account for approximately 35% of all sites through a combination of corporately- and third party partner-operated experience locations, in settings such as family-centric tourist areas, amusement parks and resorts with relationships that include Carnival Cruise Lines, Great Wolf Lodge and Landry's - all places that families go to create memories.Īccelerated Digital Transformation and Entrance into Web3Īs a brand known for providing in-person, one-on-one experiences, establishing a meaningful and growing e-commerce channel required a complete strategic shift by Build-A-Bear, and diversification into digital was necessary to prosper through the disruptive macroeconomic environment.īuild-A-Bear has significantly expanded its e-commerce demand with initiatives to accelerate its comprehensive digital transformation, including a recent update to a mobile-first website, with the goal of driving engagement and providing meaningful online experiences to guests by staying true to its vision to remain an experience retailer. The company launched the age-gated, adult-focused section on the website called "The Bear Cave" and the even more edgy adult themed section called " After Dark," offering a selection of gift giving options with adult humor.īuild-A-Bear also now offers multi-dimensional product categories ranging from recently announced expansion into pet toys, matching family pajamas, gift-giving including its innovative personalized HeartBox collection, as well as collectible stuffed animal products, many of which are in collaboration through its best-in-class licensed relationships. With the growing popularity of brand enthusiasts and collectors, along with the trend of "kidulting", where adults seek traditional childhood toys, the brand has put focus on appealing to a demographic that may have visited Build-A-Bear as a child and is now returning. Leveraging a Multi-Generational Brand with Broad Demographic Appealīuild-A-Bear has become a multi-generational brand appealing to diverse consumer demographics including teens and adults now representing nearly 40% of its consumer base creating a much larger total addressable market beyond families and kids. As we look forward to our future, we believe we are in a strong position to further leverage the foundation we have built to drive incremental profitable growth in new and innovative ways," concluded Ms. Importantly, these efforts are delivering sustained profitable growth as demonstrated by recently achieving the most profitable years in our history, back-to-back in 20. "These relationships coupled with the disciplined execution of our multi-year strategic plan have enabled us to begin to successfully recognize the brand value to an older addressable market beyond kids with 40% of sales to teens and adults, in categories beyond plush such as gift boxes and into new points-of-sale beyond traditional malls like ecommerce, tourist and hospitality locations, while accelerating a comprehensive digital transformation and entertainment initiative. ![]() Build-A-Bear featured in new Innovation and Disruption Leaders series featuring companies driving inspirational change. ![]()
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