Our very own Chris Byrne, the Toy Guy himself, was recently interviewed by Elisabeth Butler Cordova of Crain's New York as part of an expert panel discussing the retail industry outlook for 2008. Following is an excerpt from the article. You can read the entire article by clicking here.
"As 2007 takes its final bow, Crain’s asked four retail experts, from the toy, real estate, department store and specialty boutique sectors, to share their insights on what New Yorkers can expect from the industry as it heads into the New Year.
CHRISTOPHER BYRNE, AKA THE TOY GUY, A TOY-INDUSTRY CONSULTANT.
What will be the biggest challenge for the industry in 2008?
For the toy industry, there are two. First, ongoing effort will have to be invested in recovering from the recalls of 2007. There needs to be huge education for consumers about safety and Chinese toys. Second, the challenge will be maintaining margin and product value in the face of rising costs."