As we reach the halfway point in 2024, partyworldwide.net catches up with Fran Hales, head of marketing and portfolio, Rubies, to find out about the year so far and plans for the second half.
How has 2024 been so far for your company and the industry as a whole?
Fran: “2024 across the industry has been a challenge, we are seeing less spending power with consumers for non-essential goods and increased financial constraints. Although the year has been challenging, we are confident of an upturn ahead, due to our investment in fulfilment services, POS solutions, along with toyetic products. We also have a very strong portfolio of licensed, generic and plush products for 365 everyday play, which we believe will drive demand.”
What has been your highlight of 2024 so far?
Fran: “The highlight for 2024 so far would have to be World Book Day. With the introduction of our World of Walliams range, we’re pleased to report excellent sales for the first year of having the license and our Billionaire Boy and Spaceboy styles even sold out completely before the event. On top of this, it’s been great to see fans of our product come together as a community online to celebrate reading.
“Other than that, we’ve had a bumper 2024 so far with new licenses being acquired, including Hasbro. With a long legacy at the heart of the toy industry, we’re excited to be able to bring Transformers and Power Rangers to life for a new generation of fans in exciting ways consumers haven’t seen before.”
What have the biggest challenges and opportunities been so far?
Fran: “Where others see challenges, we see opportunity. We see gaps in the market for licensed products that are not your typical role play sets, it’s part of our everyday play strategy to innovate and elevate evergreen and new properties, taking the consumer on a whole new dress-up experience.”
What are your hopes and expectations for the remainder of 2024?
Fran: “Looking ahead to the remainder of 2024, our hope is to continue building on the first half of the year. We aim to introduce exciting new products, expand our partnerships with popular franchises and we have the biggest entertainment properties such as Deadpool & Wolverine and Beetlejuice Beetlejuice.”
What do you expect to be the biggest challenges and opportunities for the rest of the year?
Fran: “One of the biggest challenges we anticipate is the unpredictability of consumer preferences and trends. Staying on top of these changes and consistently delivering innovative and sought-after costumes, will require continuous market research and agility in product development.
“On the other hand, the opportunity lies in the sustained growth of the themed events and party industry. We expect an increased demand for costumes, accessories and props, providing us with opportunities to expand our product offerings and reach new markets. Embracing sustainability and eco-friendly practices also presents an opportunity to cater to the growing environmentally conscious consumer.
“Overall, we are excited about the prospects for the remainder of 2024 and are committed to providing exceptional costumes and accessories that enable our customers to unleash their creativity and imagination.”
