Features

Wham-O CEO to Silly Bandz: Boost Creativity


Describe the life span of a hot toy.
It can last decades or just a season. Sometimes a product has its wave and then comes back. Last year a picture was snapped of the President's wife using a Hula Hoop. We've always had a hoop for exercise, but it became a big trend. We have to make sure we fill the demand when the trend hits. This will probably last about six months to a year. Then the big excitement will be over.

How do you fend off imitators?
People knock off our products on a continual basis because they sell. Take the Frisbee line. If we only focused on making a $5 or $10 Frisbee, then competition would come in with a $1 Frisbee. I make sure we're in all the price points so it leaves no room for our competition to bid against us.

What happens when a product goes cold?
It doesn't necessarily disappear. Before you were making 1 million a month, now you're making 10,000 a month. What you should do is build your brand off of that. When we made a new toy, at the end of the commercial, in a big strong voice, we'd say "made by Wham-O!"

What is your best-selling product of all time?
The Frisbee. It never loses its popularity. The Slip 'n Slide also still sells like crazy. Parents want a toy that holds the attention of a child for at least 15 or 20 minutes. The nostalgic toys we have never die off.

Any words of wisdom for the makers of Silly Bandz?
They've already built a brand for themselves, but I can see in the next few months that it's going to start to die off. They can sell to a bigger toy company, or they can take the profits and build a solid development and creative team and start to explore what the next great trend will be. They need to be ahead of the market.


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus