Update (6/18) - To hear the full panel discussion, register for Licensing Week Virtual today.
Pam Kaufman, President, ViacomCBS Consumer Products to deliver keynote at Licensing Week Virtual
This industry, now, more than ever, is forced to adapt to the new normal by working together and pooling resources. The demand for connections has never been greater. In response, the Global Licensing Group has organized Licensing Week Virtual, a five-day, online-only program, in partnership with Licensing International, that aims to bring together the global licensing community at a time when physical networking and deal-making is unfeasible.
Backed by more than 30 sponsors including ViacomCBS, Brainbase, Beanstalk, Bioworld Merchandising, Easyriders, Jewel Branding & Licensing, NFLPA, OpSec, The Smurfs, Ubisoft and more, the digital event combines virtual keynotes at the start of each day, followed by educational and topical seminars, matchmaking, networking and a digital exhibition. Taking place June 15-19 2020, Licensing Week Virtual offers the best aspects of a Global Licensing Group event in a safe, remote manner.
Whilst the virtual event can never fully replicate the live event experience, Licensing Week Virtual will provide the two most important elements from the traditional Global Licensing Group events – connections and learning. From the popular Matchmaking Service, which allows attendees to search for, connect and secure meetings before the show begins, to an interactive and colorful expo floor featuring 30-plus exhibitors spanning entertainment, gaming, lifestyle brands and more, to the second annual Pitch the Brands contest, what makes this inaugural virtual event unique is its timeliness. Organizers have folded in support measures not historically seen at a live event – on-demand educational seminars and sessions dedicated to navigating the current pandemic, which attendees can view at a time that suits them.
As part of Licensing Week Virtual, Pam Kaufman, President, ViacomCBS Consumer Products will be delivering the keynote address on Day 2 of the event on Tuesday, June 16 at 09:00 PST / 17:00 BST. Day 2 will be devoted to "Character & Entertainment". With global retail sales exceeding 44 percent of all total sales of licensed merchandise, characters and entertainment account for $123 billion at market. Entertainment categories span everything from film and television to video games and now a myriad of streaming platforms, driving a global economy that beats to the drum of pop culture.
Kaufman's session will be titled "The Future of Consumer Products and Retail: Top Industry Execs Share Where We Go From Here" and will be sponsored by ViacomCBS.
For more information on Licensing Week Virtual and to register to attend, visit https://www.thegloballicensinggroup.com.
Anna Knight, vice president, Global Licensing Group, had a chat with License Global to discuss the event and why it’s a must-attend for the licensing industry. Click here to read the interview.
Update (6/18) - From License Global:
What We Learned from ViacomCBS’ Keynote Panel at Licensing Week Virtual
ViacomCBS leads an expert panel to discuss retail, licensing and modern consumer products.
Tuesday’s Licensing Week Virtual keynote – hosted by Pam Kaufman, president, ViacomCBS Consumer Products – brought together a panel of experts from Penguin Random House, Just Play, Family Dollar and Kellogg’s to discuss innovation and leadership in today’s consumer products space.
The outbreak of the coronavirus continues to place the world in an almost-constant state of change. In particular, the consumer products space has had to innovate, evolve and respond to rapidly changing consumer trends. With lockdowns lifting in certain parts the world, the panel looked at how consumerism changed as life, as we knew it, was put on hold.
“The initial impact for retail, which we did not expect, was a surge in purchasing, for toys in particular, so, products we call ‘boredom busters,’ which consist of games, puzzles, building sets, outdoor, crafts and activities,” said Geoffrey Greenberg, co-president, Just Play. “In Q1 alone, the toy industry grew by 8 percent. Games and puzzles were up 55 percent, building sets 20 percent and outdoor sports 22 percent. Traditional toys started to immediately slow. I think parents were concerned about providing things that would have extended play periods for children, and instead, looked for ways for families to interact. In the early days, consumers were uneasy, and they sought comfort and security of trusted well-known brands, which was great for Nickelodeon, as we've seen huge growth in that area. The Top 10 licensed properties represented 20 percent of industry sales in Q1 alone, so we're seeing huge growth there as well.”
These major growth areas for global licensee Just Play are signifiers of an increase in family time and licensed product purchases, but from the viewpoint of retail, how did consumers in lockdown also cause a surge in educational shopping?
“We know over the last few months, things like toys, bikes, above-ground pools have really worked well within the industry,” says Andrew Tucker, vice president, general merchandise, seasonal business, Family Dollar. “Consumable goods have worked well within the industry, but also, we know mom is trying to make living very comfortable for her family and for her children at home. Educational items have worked well. So, books, writing instruments, those have been some strong segments that we've seen across the industry.”
As schools have closed due to the pandemic, many families are also turning to other educational items such as activity books and workbooks to ensure children learn during these unprecedented times. According to Felicia Frazier, senior vice president, children's sales, Penguin Random House, parents are also turning to books to shed light on issues such as diversity and racial equality.
“The industry is having a phenomenal year,” adds Frazier. “We are up 10 percent or almost 10 million units to the register, and that is, again, going back to what is happening in the family home and what is happening with school closings. The first surge that we saw in increase in sales and units came from things like workbooks and activity books, and then, as the family settled in, it migrated to, you know, classic titles and backlist and trusted brands, and I think we can see that across the board and say that Nickelodeon [is one of] those trusted brands that mom leads into. And now as the conversation is changing and parents and families have to find a way to talk about race and talk about diversity and acceptance, we're seeing a tremendous lift in our titles that help parents and kids and moms and families have that conversation through storytelling.”
While consumer products thrived, so, too, did consumables. Kellogg’s’ major challenges came from tackling the increasing demand, as consumers looked to core, traditional family brands to provide a semblance of comfort at home.
“Our biggest challenge is meeting demand,” says Zion Doran, senior director, integrated promotions and partnerships, Kellogg’s. “So, we took a lot of steps to meet the high consumption and high demand, but I will say, I'm very proud of how we responded and our ability to be agile with how we market and talk to our consumers pretty much overnight.”
This is what the expert panel saw amid the early days of the coronavirus outbreak. To gain in-depth insights into the future and learn how brands are innovating in the consumer products space – from plushes with facemasks that reduce children’s anxiety to providing comfort through brands and adapting to consumer feedback – watch the full session with ViacomCBS by registering for Licensing Week Virtual.
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From Licensing Source:
“Innovation will continue, probably now more than ever”
Key execs from ViacomCBS, Penguin Random House, The Kellogg Company, Just Play and Family Dollar discuss the future of consumer products in Licensing Week Virtual keynote.
A host of key executives from companies across the licensing spectrum gathered to discuss what the future of consumer products could look like in the keynote address on the second day of Licensing Week Virtual.
Moderated by Pam Kaufman, president of ViacomCBS Consumer Products, the panel consisted of Felicia Frazer, svp children’s and educational sales at Penguin Random House; Zion Doran, senior director, integrated promotions and partnerships at The Kellogg Company; Geoffrey Greenberg, co-president at Just Play; and Andrew Tucker, vp and ggm seasonal, toys and gm at Family Dollar.
Speaking on the changes seen at retail since the beginning of the COVID-19 pandemic, Andrew explained that Family Dollar was fortunate that it played into the mass and value segment. “The customer base continues to find other channels for consumer goods; mass and value have been strong over the last few months and will continue to be so,” he commented. “Customers need us more now than at any other time – they are looking to mass and value chains to help lower this cost of living and we are making sure that we continue to deliver on that.”
PRH‘s Felicia said that the first surge in sales the company saw was for work and activity books, before migrating to classic titles and trusted brands. “Now, as the conversation is changing, families need to find a way to talk about race and diversity, so we are seeing a lift in those kind of titles,” she offered. “Parents are looking for resources to be able to teach at home and we have so many opportunities to help books shape those conversations.”
Just Play‘s Geoffrey sees a “tremendous” opportunity in the toy space, with categories such as outdoor sports and games and puzzles seeing strong growth at the beginning of lockdown across the US (22% and 55% respectively). “I think in the early days, customers were uneasy so they sought comfort in classic brands,” he said. “We’ve seen an acceleration of online purchasing, while ‘baby boomer’ purchases have been incredible for us. We’re excited as states are starting to re-open – there is a tremendous opportunity in the toy space and everyone is optismistic.”
Tuesday's keynote panel (from top left, clockwise): Andrew Tucker, Family Dollar; Felicia Frazer, Penguin Random House; Geoffrey Greenberg, Just Play; Zion Doran, The Kellogg Company; and (centre) Pam Kaufman, ViacomCBS.
When it comes to adapting their businesses to what consumers want right now, The Kellogg Company‘s Zion explained its biggest challenge has been meeting demand due to high consumption of its food products.
The company also needed to pivot quickly on its marketing strategy, she added: “Where we have been tested is in our ability to be agile in how we market and talk to customers, and that happened pretty much overnight. I would say don’t let the current situation stop long-term partnerships, but also be agile enough to pivot to meet the demands of today.
“We do a lot in the sports industry, for example, and I think even our contingencies have contingencies for that!”
Family Dollar’s Andrew pointed out that learning to make customers feel safe in stores is key: “We’re learning how to adjust to make mom and the family feel safe – being proactive with signs, perspex shields, etc – and we’re seeing that correlate to the products consumers are buying, such as facemasks.”
Just Play’s Geoffrey said that adding plush complete with facemasks has been one of the changes the toy company has made. “We’re seeing a lot of anxiety among children and they are anxious about wearing facemasks, so parents are using plush toys to put masks on so that children become comfortable. It’s simply things like that, adapting to what this new world is like.”
Innovation certainly won’t go away though, he stated: “Innovation will continue, probably now more than ever. During this period we’ve spent a lot of time really focusing with our licensing partners and brainstorming.”
Licensing Week Virtual runs until Friday June 19 and there is still time to register and access the content, virtual show floor, Matchmaking and more. Visit www.licensingweekvirtual.com.
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More Nick: ViacomCBS Launches Global Reusable Face Masks Featuring Iconic Nickelodeon Characters!
Originally published: Saturday, June 06, 2020.
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