![]() With COVID-19 cases spiking around the U.S. ![]() The pandemic has also changed how consumers shop. Meanwhile, millions of others have lost jobs as well as stimulus paychecks that helped prop up consumer demand in the spring and summer. ![]() To keep their kids busy, some of that money has flowed to toys. A season without impulse toy sales?Īs NPD Vice President Juli Lennett noted in a blog post earlier in the fall, the current environment has left upper-income families with an "excess of money" as they cancelled vacations and other entertainment options. As with other retail sectors, the pandemic has created countervailing forces that could shape the holiday season in contradictory ways. Yet, the industry still has plenty of challenges going into the season, many of them also brought by the same pandemic that has pushed demand up. Coresight Research forecasts that holiday toy sales are poised to grow 5% to 10% year over year in 2020, according to an emailed report. Davidson senior research analyst Linda Bolton Weiser described Mattel's Q3 as "outstanding" and said in an emailed client note that the results "raised our confidence in the CEO's execution." Bolton Weiser also noted that Hasbro's performance beat expectations, and raised estimates for Q4 sales while lowering expectations for the company's earnings.Īll this bodes well for the holiday season, which will be the third for the category without Toys R Us. Fellow toy giant Mattel reported North America sales growth of 13% in the quarter, led by doll sales, which grew 31% in the region. and Canada, at $977.1 million, were up 9% year over year. This week, Hasbro reported Q3 sales in the U.S. Growth, at least for the major players, has continued into the third quarter.
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The integration plans that were announced in 2019 were also noted by some critics as a way for Facebook to skirt potential antitrust concerns that could eventually arise - by merging Facebook features with the would-be competitors that it acquired, it could prevent a forced spin-off of WhatsApp or Instagram, as The Guardian reports. But as Bloomberg notes, that cross-communication among platforms would mean greater use of its services, which could bolster Facebook's business. The reasoning, according to Facebook, is that users would be able to contact more people since they could do so from any of the three apps. ![]() The news comes over a year after it was revealed that Facebook CEO Mark Zuckerberg was planning to integrate its Messenger service with Instagram and WhatsApp. There are other new features included in the changes, like selfie stickers and a vanish mode, per the Facebook spokesperson. The company is also considering adding its standalone Messenger app back into the Facebook core app, according to Bloomberg. ![]() Some Instagram users will now be able to message their friends on Messenger, without needing a. The spokesperson told Business Insider that the company is rolling the changes out in "a few countries" initially and will expand globally, including in the US, soon. Facebook takes a big leap in linking Instagram, Messenger and WhatsApp. "We're dedicated to getting this right rather than doing it quickly." Facebook's messaging service WhatsApp is also not affected by the new changes, according to the spokesperson, and will remain a "separate, end-to-end encrypted app." "Adding end-to-end encryption to an existing system is challenging and involves a fundamental change in the way the app is built," the spokesperson said in an email. The cross-communication between both services would not immediately be end-to-end encrypted, a company spokesperson confirmed to Business Insider. ![]() The new Instagram message feature will look similar to what it's always been, Facebook chief product officer Chris Cox told Fast Company, and users will be able to choose if they wish to switch from Instagram's current direct message feature to the new Messenger service. Instagram's seven-year-old direct message feature will be replaced with Messenger, meaning users on Instagram will be able to message people and send photos and videos on Facebook Messenger and vice versa. Facebook is merging its Messenger service and Instagram's direct message feature in a move that has long been in talks as part of an effort to integrate the tech giant's array of social media platforms. |
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