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JJ Ramberg

JJ Ramberg is the anchor of “Your Business,” MSNBC’s weekly show on small business. In addition to her extensive television reporting experience, Ramberg has a background as an entrepreneur and co-founded GoodSearch.com. She has an MBA from Stanford Business School.



From the floor of the 2009 Toy Fair

Posted: Thursday, February 19, 2009 1:03 PM by Roland Jones
Filed Under: , , ,

We're debuting a new segment in the show in a couple of weeks where we get small business owners’ take on important questions from the floor of the nation’s biggest trade shows.

Earlier this week I went to the 2009 Toy Fair at the Jacob K. Javits Convention Center in New York. As the mother of two kids, I found it hard to walk through the show and not get distracted at every turn, but once I got my fill of testing out new toy trucks and pens that light up, I did get the chance to get to the task at hand: Getting a reading on how the companies at the show feel about their prospects in this economy.

I asked everyone I spoke with if they felt that the steps being taken in Washington, D.C., would help the company. Most people I spoke with didn’t need credit. Most had never used the services of the Small Business Administration (SBA) and said they didn’t plan to. Many said they’re not in a position to take advantage of any tax breaks. Nobody I spoke to had a sense of how Washington's efforts would have a direct impact on their company. What they all cared about -- and if they were worried, what they were worried about -- was getting customers in the door. In general, I heard that they were not looking for something in particular from Washington; instead, they were just looking for something that boosts the economy as a whole and translates into more customers for them.

Interestingly, the most optimistic small business owners I spoke with were those who were just starting out -- a kite maker who launched eight months ago and a toy car maker who opened his doors within the last few months to name a few.

This makes sense. These people have not taken the psychological hit of seeing their revenue fall. On the contrary, they were able to prepare for a slow economy by keeping their start-up costs low and have been able to take advantage of a slow economy by paying less for what they need -- whether that's furniture for the office, or good employees.

I’d love to hear what you think. Do you think Washington’s efforts will have a direct impact on your business?

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I have owned a small bookstore for 11 yrs and recently added teaching supplies and toys. I was planning to attend the Toy Fair but decided I could not at this time afford the expense and addition of new toy lines.
A lot of my customers are in the teaching field so how DC and Sacramento handle the economic crisis will have a definate impact on my business.
I am concerned that they are so busy being politicians they don't know how to be businessminded.

Bonnie Olesh, El Centro, Ca (Sent Thursday, February 19, 2009 3:13 PM)

Check out the story behind Bananagrams (this year's Toy Fair 2009 "Game of the Year". Created by a grandfather of 2, in RI (Cranston); headquartered in Providence and from the launch 2 1/2 years ago, has quadrupled in sales---talk about a small business that hasn't taken a hit from the economy! I'm the sales/marketing director for Bananagrams LLC. We also have a website (see below). Great game for under $15.00 (all ages and can be played in as little as 5 minutes!)

Simon Mitchell, Warwick, RI (Sent Friday, February 20, 2009 7:57 AM)

I too attended Toy Fair 2009 and discovered an interesting trend. It's one of numerous trade shows we visit as new business development for our video production services and for the chance to offer prospective clients new ways to promote their products in this challenging economy. Consistently, we found business owners and representatives upbeat about prospects for the toy business in 2009. When I asked, "What kind of Toy Fair are you having this year?", the replies - from first-time attendees to veterans - were consistently positive - that Show sales were very good, better than expected, and in numerous instances better than Toy Fair 2008. Owners also reported that buyers had trimmed back the number of representatives  sent to the show to cut costs. This helps to the owners because now instead of having to spend time with multiple representatives from a single company, they're meeting the key decision maker immediately.
Based on buying patterns at Toy Fair, it appears consumers are willing to forego vacations and new cars in favor of gifts for their children.

Bill Morris, Ossining, NY (Sent Friday, February 20, 2009 9:51 AM)

I too attended Toy Fair 2009 and discovered an interesting trend. It's one of numerous trade shows we visit as new business development for our video production services and for the chance to offer prospective clients new ways to promote their products in this challenging economy. Consistently, we found business owners and representatives upbeat about prospects for the toy business in 2009. When I asked, "What kind of Toy Fair are you having this year?", the replies - from first-time attendees to veterans - were consistently positive - that Show sales were very good, better than expected, and in numerous instances better than Toy Fair 2008. Owners also reported that buyers had trimmed back the number of representatives  sent to the show to cut costs. This helps to the owners because now instead of having to spend time with multiple representatives from a single company, they're meeting the key decision maker immediately.
Based on buying patterns at Toy Fair, it appears consumers are willing to forego vacations and new cars in favor of gifts for their children.

Bill Morris, Ossining, NY (Sent Friday, February 20, 2009 9:59 AM)

I was quite disapointed with the overall turnout of suppliers at the 2009 Toy Fair and can only fault the overall economic conditions as the reason.  The primary reason I attended Toy Fair was to visit with existing vendors (none of whom attended) and search for new product for my online retail store.

I believe the current administration has the correct viewpoint on the economy; put people to work and everything will fall in place, however I don't believe they have the ability to accomplish this goal as quickly as their campaign promises led us to believe.  It appears they are still on the campaign trail rather than in office.

   

Wayne Keller, The Woodlands, Texas (Sent Friday, February 20, 2009 3:23 PM)

The gov't won't have near as much impact on my toy buying as greedy toy companies like Hasbro, who havev chosen to raise their prices across the board lately,
leaving many parents getting less toy for more money.  Shame on you, Hasbro!

ToyFan (Sent Friday, February 20, 2009 4:13 PM)

I like those you talked to at Toy Fair own an independent specialty toy store with gross sales near a million dollars per year. I think the most important thing that Washington can do for businesses like mine is to restore people's confidence in the economy by stopping the the ongoing slide. I hope the stimulus dollars will go to stabilizing the housing market, slowing job losses in both the private and public sectors and continuing to dig out the banking mess.If that can be accomplished it will dirrectly impact my business by bringing my customers back in my store and making them more willing to part with their cash.

Christine Hildebrand Davis Calif (Sent Friday, February 20, 2009 4:55 PM)

I am a Mary Kay Independent Consult who has not, in three years, "made money".  But what little sales I did have on a regular basis have dried up.  Even though they like the product, they are going were it is cheaper.  I get this, because even at a deep discount, I cannot compete with 99 cent eyeliner.  I still purchase my own product, but even I do not buy the newest and brightest limited edition items because it is not practical to wear them a few times then let them sit on a shelf waiting for the next best thing to come along.  Washington's efforts are not going to impact my business for a very long time as most people prefer eating over eyeliner.

Jennifer, Manistee, MI (Sent Saturday, February 21, 2009 2:07 PM)

Being in the hobby business, we sell mainly new die-cast cars, aircraft, buses, etc., along with antiques and older collectibles.  Most of our sales are discretionary dollars being spent on something that appeals more to the ego than to actual needs.  So, Washington's efforts could have an indirect impact on our business, if they are successful in getting people back to work, so they have a little extra money to enjoy their hobbies again and less concerned about just being able to meet their necessary living expenses.    

Don Bourdeau, Zion, IL (Sent Sunday, February 22, 2009 10:09 AM)



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