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Historical Forecast On Toys "R" Us

1912 words - 8 pages

Unit 4:Tonya PattonKaplan UniversityGB502Professor: Craig HoveyMarch 24, 2009Historical Forecast on Toys "R" UsWhen people hear the name Toys "R" Us (TRU), they think back to when they were kids. To be able to go into a store made with bricks and mortar and leaving with mom in one hand and the latest toy in the other and a great big smile from cheek to cheek. Having a strong brand recognition, there were no doubts that TRU could continue their successful tradition by holding on to their vision and historical values, which is to "put joy in kids' hearts and a smile on parents' faces"(Toys "R" Us, 2009), even through the Internet.Charles Lazarus began a business in 1948 entirely committed to children and their needs (Toys "R" Us, 2009). Baby furniture was sold at his first store, but customers began asking for baby toys. Mr. Lazarus considered his customer requests and decided to begin selling baby toys. After some time, customers began to ask for toys designed for older children and once again he chose to sell this type of toy as well. TRU became successful because Mr. Lazarus tried to give his customers everything they wanted. There were approximately 1,500 stores worldwide and grew into an $11 billion business (Toys "R" Us, 2009). However, Mr. Lazarus did not stop with the traditional "brick and mortar" company; he moved his toy store to the World Wide Web. The toy supermarket was revolutionary in 1957 because this type of retail model was unheard of during this time. In 1978, Toys "R" Us became a public company and manages six different divisions today. These divisions consist of Toys "R" Us U.S., Toysrus.com, Toys "R" Us International, Babies "R" Us, Kids R Us and Imaginarium (Toys "R" Us, 2009). The first e-commerce site by Toys "R" Us was introduced in June 1998 (Toys "R" Us, 2009). Toysrus.com became one of the top rated websites in the retail category in 1999 (Toys "R" Us, 2009). This website is also the largest and most visited site in this category and maintains the number one ranking.In June of 2000, TRU launched a second website known as Babiesrus.com (Toys "R" Us, 2009). This website was launched to sell baby and juvenile products while accommodating its customers. TRU also transferred this website to the Amazon.com format in spring of 2001 (Toys "R" Us, 2006). This online store provides new and expectant parents a seamless shopping experience while providing Babies "R" Us product selections. Parents also have access to resources supporting them from pre-conception through pregnancy. In addition, they have access to an unlimited amount of information related to the infant's first year.Currently during the 2008 holiday season that just passed, TRU had an increase in sales by 1.9%. This increase is not a major increase, but looking at the decrease in spending and the way the economy is going, this is a great sign for the company. TRU believes that "these December results demonstrate the effectiveness of our strategy, as well as the...

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