Geoffrey's Demise in the Amazonian Age
I was born in the 80’s. During that time, cable was limited to a few channels, analog television still existed and Geoffrey the Giraffe was a very popular toy brand (aside from Kay Bee toy stores in the mall). But as the years progressed and Moore’s law improved computing, communication, and e-commerce, Geoffrey and his brand began to weaken as new toy companies started coming in and literally started taking Geoffrey’s dollars out of his pockets….Now Geoffrey is dying….
Efforts to place him on life support took place in December 2017, with references of gofundme pages and billionaire promises, but it didn't work. Unfortunately, for Geoffrey, December 2017 was the last holiday season he will ever experience. It’s now March 2018, and Geoffrey’s broke. He can’t borrow any more money from the bank and no one will save him. His friends have abandoned him and he has officially lost it all. More importantly, he has forfeited 64,000 jobs around the world and while this may not seem like a lot of people unemployed, some of these workers have invested a large amount of their time, energy, money and pension in the company in hopes that they could retire from their job.
There are many questions, but the most important ones are: ‘How can I best profit from the company’s closure?, Can I still get my pension?, How can I get the most out of this liquidation?, and Where am I going to get my toys now?’
How Can I Profit?
If you are a toy collector, have one or many kids, or need some serious baby wipes… time to loot up. Since Friday, March 23rd, 2018, stores have started discounting; and currently, the highest discount is 30% off. If you’re part of the Funko collecting trend or action figure craze, this is definitely for you…
All exclusives will be worth a lot of money in the secondary markets but it depends on the item.
Pension? Where’s it At!?
If you worked under the company and accumulated some form of retirement package, be cautious, be careful, and assess your options ASAP!!!
‘Members who have reached their scheme’s normal pension age will generally receive the same amount in compensation as the pension they were receiving from their scheme at the time their employer went bust.
They will also generally pay 100 per cent compensation to those who have retired on legitimate ill-health grounds, regardless of age, and those receiving a pension in relation to someone who had died at the time that the employer went bust.
Those members who have not yet retired will receive up to 90 per cent compensation on reaching the normal pension age of their scheme.
Members who have retired but have not reached their normal pension age will also receive up to 90 per cent compensation.
These 90 per cent calculations are subject to a cap which is recalculated every year. But the vast majority of members are not affected by this cap. A higher cap may apply if you were a member of your pension scheme for 21 years or more.’ - PPF
What this means is that the company is trying to assess and recoup your retirement money in hopes of helping your transitions. The only problem, there is no news of the Toys R’ Us US-based chains offering or working on a Pension recovery plan for their workers. If they are related great, if not, work out your options. Attached is the booklet from the PPF to assist in hoping you get a great recovery.
How Can I Get the Most Out of this Liquidation?
In this regard, I can say this, chose your store wisely, heavily populated areas have stores that are already selling out of the good stuff. But if you happen to find that ‘gem’ of a store, we recommend these first:
Babies R’ Us
Usually the first to go are the diapers, wipes and expensive Land Rover-brand like strollers. Babies take poops and strollers look like BMWs; so now you can get it at a low price. Treat your self.
Toys R’ Us
Battery Powered Cars: These should be one of your first choices. Imagine getting a battery powered cherry-red Porsche for your daughter or son for a good price? Or the Hummer?
Mechanical Bikes: Now that spring is here, definitely grab a bike for the kids. You have to assemble them on your own, but since these stores are going out of business, see if you can get one of the workers to do it. Slide them a fifty ($50) to try to get that first place assembly.
Toy Collectors: It’s Toy R’ Us people!!! All I can say is this… Toys R’ Us exclusives such as LEGO’s, Funko’s and Marvel action figures should be the first thing you go for. Why?! Those are the big ‘flip’ ticket items for your secondary markets. My recommendation is to get those first.
Non-Toy Collectors: Parents, Guardians: It’s time to start thinking Christmas, in other words: Tablets, Nintendo’s 3DS Games, Fire Sticks, and any stocking stuffers that would be deemed necessary for X-MAS 2018. As far as video game systems are concerned… stick to Gamestop, it’s a better option.
Where am I Going to get my Toys from Now?!
Main Spots: Wal-Mart and Target are now the locations for all things toys and collectibles. With Toys R’ Us' end drawing near, these spots will now have to double down on their toys and baby inventory. Expectant mothers and Seasoned Moms went to Toys R’ US for all things baby/children and sometimes they took them there to pass the time as Toys R’ Us allowed the kids to play with some of the merchandise.
Will Target and Wal-Mart also provide a user expereince for children to interact with some of their items? I recommend that they reevaluate their options and provide space for children to get the user experience.
For Collectors and Flippers… the world is yours. Don’t get me wrong, you already own the world in your perspective toy empires, but now, your revenue has increased maybe 2 to 3 fold. Those Toy R’ US exclusives will bring in a hefty penny!
I recommend you wait until the stores finally close, observe the market then do what you do best, sell em at a great price.
Do I even have to go there?! Amazon has now taken over the toy industry and is providing everything to everyone!! All I can say is this…
- You can’t try the toys out until you get them.
- You can get low priced items from a variety of sources.
- They deliver right to your doorstop.
- You don’t have to worry about waiting in customer lines anymore.
Amazon is the #1 E-commerce site for Toys, Games, and Electronic devices.
Geoffrey is no longer on life support. They've taken the tubes out and he is now on the hospital bed breathing his last breaths and people are now raiding his coffers in hopes of recouping a profit. I can’t blame them though, I’m going to the stores today in hopes of getting some wipes for my daughter.
Geoffrey, you provided laughs and love to people all over the world. You were a great inspiration for millions of consumers, kids and collectors. To see you in this condition is sad for me, but the only thing constant is change…especially in the Amazonian Age.