The GaryVee Audio Experience What Toys R Us CMO Learned In His Wins & Losses | Coffee & Commerce Episode #25
Mar 14, 2021
Warren Kornblum, former CMO of Toys R Us and CEO of Shadow Branding Group, shares invaluable lessons from his time at the iconic brand. He discusses the challenges of blending legacy with modern marketing, the critical importance of understanding consumer emotions, and the missed opportunities in e-commerce. Kornblum also emphasizes humility in leadership, the need for diverse perspectives in corporate culture, and the power of teamwork, reminding us all to cherish shared memories while driving innovation.
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Toys R Us' Shift in Focus
- Warren Kornblum, former CMO of Toys R Us, recalls his frustration with the company's shift in focus.
- It moved from customer experience and brand magic to logistics and cost reduction.
Retail as Experience
- Retail must shift from transactions to experiences, offering customers something unique.
- Successful retailers create environments where consumers feel understood and their time is valued.
Toys R Us and E-commerce
- Toys R Us missed the boat on e-commerce, failing to translate its brand magic online.
- This, coupled with high debt, contributed to its downfall, despite early e-commerce opportunities.