The end shopping season is coming and Walmart wants to repeat for the second year in a row its holiday layaway program. This year people would be able to layaway the toys they want to purchase from Christmas since September 2. Customers can pay as little as $10 to hold items worth a minimum $50. Walmart commercial strategy hopes to experience a great success as in last year thanks to Disney’s Star Wars movies.
The world’s largest retailer is starting its layaway program on September 2, two weeks earlier compared to last year. The strategy was a success in 2015 because of the premiere of the popular Star Wars movie now own by Disney. This year will also have a Star War premiere on December 16, and Walmart is relying on the film to boost its sells.
According to the NPD, a market research group, toy inspired by movies in the current market grew by 9.4 percent. This includes $700 million in sales from Star Wars products, which was the No. 1 property of 2015. The Star Wars franchise was worth more than Jurassic World, Minions, and Avengers combined.
Layaway programs let shoppers pay for holiday gifts in installments and last year they proved to have a significant impact on sales. Analysts estimate the layaway program may account for as much as 15 percent of holidays revenues at Walmart stores in poorest areas of the U.S.
The NPD also released data in January that shows U.S. Toys sales increased 6.7 percent to $19.4 billion last year. The firm’s estimate was 6.2 percent growth, showing an increase in the market boosted by movies.
Anne Marie Kehoe, Walmart’s vice president of toys, stated on a conference call with news media on Wednesday that the company has seen a significant momentum in toy sales from the day after Christmas through the spring season, and Walmart do not expect that to change.
Asking Walmart experts on toys – A.K.A. children – is the best marketing strategy
Kehoe said that whatever your child is interested in, there is a great toy this year for them in the company’s establishments.
The retailer asked children ranging from 1 year and a half to twelve years old to name the 25 most appealing games and gizmos to satisfy their customers and guarantee a successful season. And Walmart’s vice president believes that it is what is driving the health of the business.
Walmart has partnered with Mattel as part of their plan to listen to their little clients. And now the toy supplier has designed an exclusive Batman vs. Superman: Dawn of Justice Batcave, which will only be sold at Walmart.
Kehoe said the Batman vs. Superman collaboration is what the company thought to be a great gift for those kids who love the brand and wished to play with a similar set.
The known retailer does not break out sales by product category, but Walmart confesses toys are essential in its holiday revenue. But not only Walmart depends on toys during holidays and USA Today says the toy industry as a whole sees 70 percent of its sales in the last two month of the year.
Source: NBC News