Lego CEO talks growing market share in toy industry
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10 ماه پیش
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#lego
#lego #toyindustry #yahoofinance
Consumers' state of play could be facing headwinds in the second half of 2023, but how exactly are consumers spending on play in 2023? The Lego Group CEO Niels B. Christiansen joins Yahoo Finance Executive Editor Brian Sozzi to discuss consumer spending patterns in the toy industry and Lego's growing market share. "We see kids having a lot of passion points, and we serve those," Christiansen says about what Lego is paying attention to. "Every year we grow our portfolio of Lego products, and that allows us to tune in and focus in on passion points that are there, and I think that together with the brand works really well for us." While it may appear that U.S. consumer spending is displaying a pullback on toys, Christiansen details the consumer trends brands are really seeing: "I wouldn't say the U.S. toy industry has been particularly more challenged than the rest, but I do think... the fact that we have had a pandemic, and we've seen different spending patterns throughout a pandemic, and now we are back to what I would consider more normalization and I think that's what it is." Christiansen also comments on Lego's presence in China amid the country's slowdown, while maintaining proximity to U.S. customers. "The u.s. is the world's biggest toy market, and we have made really really good progress. we have really gotten to more kids around the u.s., and we want to be close. we want to produce close to where we actually sell the products because we don't want long transportation. we want a low co2 emission around that, and we like the proximity to consumers."
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Consumers' state of play could be facing headwinds in the second half of 2023, but how exactly are consumers spending on play in 2023? The Lego Group CEO Niels B. Christiansen joins Yahoo Finance Executive Editor Brian Sozzi to discuss consumer spending patterns in the toy industry and Lego's growing market share. "We see kids having a lot of passion points, and we serve those," Christiansen says about what Lego is paying attention to. "Every year we grow our portfolio of Lego products, and that allows us to tune in and focus in on passion points that are there, and I think that together with the brand works really well for us." While it may appear that U.S. consumer spending is displaying a pullback on toys, Christiansen details the consumer trends brands are really seeing: "I wouldn't say the U.S. toy industry has been particularly more challenged than the rest, but I do think... the fact that we have had a pandemic, and we've seen different spending patterns throughout a pandemic, and now we are back to what I would consider more normalization and I think that's what it is." Christiansen also comments on Lego's presence in China amid the country's slowdown, while maintaining proximity to U.S. customers. "The u.s. is the world's biggest toy market, and we have made really really good progress. we have really gotten to more kids around the u.s., and we want to be close. we want to produce close to where we actually sell the products because we don't want long transportation. we want a low co2 emission around that, and we like the proximity to consumers."
Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb
About Yahoo Finance:
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more.
To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp
Connect with Yahoo Finance:
Get the latest news: https://yhoo.it/2fGu5Bb
Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq
Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP
Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz
Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV
10 ماه پیش
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