TITLE

Beanie brouhaha

AUTHOR(S)
Petrecca, Laura; Goetzl, David; Watson, James
PUB. DATE
September 1999
SOURCE
Advertising Age;9/6/1999, Vol. 70 Issue 37, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports on an announcement by Ty Inc. that all Beanie Babies would be retired at the end of 1999. Industry observers, retailers and even devoted consumers declared the move a marketing stunt designed to invigorate sluggish sales in the face of competition from toys such as Pokemon. "The strategy has clearly worked," according to David Leibowitz, a managing director at Burnham Securities. "I doubt if there is anybody who's not aware of the announcement. It's been successfully implemented." Hobbyists drove up the price of Beanies--originally priced at $5--on auction sites. Since Beanie Babies were first introduced in 1993, founder Ty Warner has simultaneously managed to confuse and court customers. He has manipulated supply and demand of the toys, often creating artificial scarcity and buying frenzies for the Beanies.
ACCESSION #
2242067

 

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics