Hasbro Inc. has seen an increase in sales, largely because of the quarantine orders to stay at home for families. Families have been seeking entertainment and activities for fun, due to the stay at home orders from COVID-19. The sales for Hasbro have increased a total of 25% in the first quarter from the games Jenga, Connect 4, Monopoly and operation, which is a big growth compared to the recent year.
Since there is no more school or work for kids and parents, this poses the opportunity for them to play at home. Many families have purchased new board games to be able to add to their at home quarantine activities. Especially right after schools were being cancelled, Hasbro Inc. saw a burst in sales of 26% increase.
Hasbro Inc. has seen some challenges from the pandemic. Since the COVID-19 hit China, the toy company's production was heavily affected due to the closing of toy factories in China. China provides 55% of production for Hasbro so it was a significant loss of production, but the factories are now open due to the lower numbers of cases in China. The virus has also closed production in other Hasbro factories around the world.
The company of Hasbro Inc. has seen an increase in demand from their games. The consumer behavior and decision process to purchase these products has been a consequence of the global pandemic. Due to the circumstances, consumers have increased in the purchase of the games.
Article: https://www.wsj.com/articles/monopoly-maker-gets-a-big-lift-from-lockdown-11588169873?mod=business_lead_pos12
Dear Bruno,
ReplyDeleteAs a lot of us are in lock down we have not been able to do much or gt tired of doing the same and in regards to that I really found your blog to be interesting as it relates with what is going on now. Hasbro has adjusted well with this pandemic, increasing the demand with consumer behavior wanting to find something to do and not be bored.
Hi Bruno,
ReplyDeleteI find your article very interesting as there have been large increases in sales in electronic games and reading this has made me realize that there could be another area that was positively impacted, maybe, by the pandemic. As consumers expect for longer stay home orders, there has been greater anxieties with consumers who have families. I think we could see a greater demand of these board games soon if we are hit with a second wave of COVID.
hi Bruno,
ReplyDeleteI find your article very interesting. I understand that due to COVID-19 many sales in games has gone up. Many people are starting to get to old way and bonding instead of suing technology