Since Mattel’s inception in 1945, the brand has been known for the creativity and innovation associated with the toys it released. However, today your audience and your brand are communicated in different ways. By betting on opportunities such as NFTs, limited edition items, celebrity collaborations, and sustainable initiatives, the brand has been able to expand its relevance and reach new audiences.
The full strategy adopted by Mattel and the partnership with Shopify was discussed during a panel discussion at NRF 2023 Retail’s Big Show, one of the world’s premier retail events. The topic was discussed by Harvey Finkelstein, President of Shopify, and Richard Dixon, President and COO of Mattel.
Early on, Dixon commented on the partnership between the two companies, which are responsible for creating Mattel Creations, a site dedicated to selling special edition items. The shape is similar to that of American Girl, Mattel’s important doll brand. Mattel Creations is currently one of the fastest growing brands within the corporate umbrella.
Mattel needed to find an e-commerce partner that could be flexible and work with a “declining” model of scarcity, Dixon said of the partnership, and “Shopify really took it a step further.”
The Mattel boss also explained that the idea behind Project Creations was to take advantage of the existing product portfolio and reinvigorate the older audience, also called collectors. To this end, the brand invites artists, designers and musicians to work with Mattel and launch special products for a limited time and units.
At the same time, American Girl was already an established e-commerce platform, but it had room for innovation. Today, selling is almost entirely D2C, although there are physical stores that are more important in terms of consumer experience. For Finkelstein, the brand provides clues about the future of retail. “It doesn’t matter whether someone bought it in the physical store or online or not. What matters is whether we serve the consumer the way they prefer?”, he points out.
On the success of the brands, Dixon commented that a key element of this is the treatment of individual brands that is driven by brand purpose. He also states that it is important for brands to understand the intrinsic value they represent to consumers.
Finally, the Mattel president highlighted the importance of design-led innovation—that is, “to truly understand and know the consumer inside and out,” he said. He concludes to “study the trends that are happening in the world, filter that out, and finally develop a product of the novels that you think will create relevance and demand.”
Photo: Reproduction/Photograph: Jason Dixon
