The recent demise of Toys R Us is yet another example of the changing nature of the retail environment and how the rise of both e-commerce and supermarkets across the world extending their product ranges has caught incumbent firms on the hop. Established businesses like Toys R Us have failed to adapt quickly enough to changing external factors, and have made fatal errors that involve some of the fundamental concepts that you will be studying for your A-level.
Before Toys R Us, most towns or cities had their own independent toy store. After the Second World War, toys and gifts were more of a luxury and less of a discretionary spend, and mainly reserved for birthdays and Christmas. However, Charles Lazarus, the founder of Toys R Us, recognised that in the postwar baby boom and growing standards of living and income, the demographic factors were perfectly placed to take advantage of.
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