A few months ago, the CBC is reported that a U.S. bankruptcy judge had approved the sale of the Canadian operations of Toys “R” Us to Toronto-based Fairfax Financial Holdings Ltd.
After eight months under bankruptcy protection, Toys “R” Us is officially back in business and putting a call out to Canadians who are looking to spend their money with Canadian-owned companies.
Toys “R” Us Canada is currently reassuring consumers that although the American Toys “R” Us brand is pretty much all closed up, the Canadian arm, now owned by a Canadian company, is looking to recapture Canadian consumers and the brand is back in full-force.
The Financial Post points out that in order for Toys “R” Us to remain successful in Canada, the brand will have to focus on continually improving its digital offering. Millennial parents are looking to buy online, and Toys “R” Us has to cater to this new style of consumer.
In addition to Toys “R” Us’ digital footprint, the brand will have to focus on providing more experiences in their big box stores. If customers prefer to buy products online, the traditional retail model will have to adapt in order to encourage customers to come back to the store. The old days of cramming a lot of product into a space and trying to sell it for cheap are over.
Industry experts expect Toys “R” Us to make a shift in how they present products to consumers. With that in mind Toys “R” Us has heard the call and is expected to continually grow.
So, if you were worried that Toys “R” Us would be disappearing from the Canadian retail landscape, fret not. Toys “R” Us is here to stay.