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American Morning
American Hero Toys are Best Sellers
Aired December 24, 2001 - 08:33 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
MILES O'BRIEN, CNN ANCHOR: Lots of last minute Christmas shopping going on today across the US. Toys, the big story, of course.
CNN's Keith Oppenheim is at the FAO Schwartz store in Chicago. Isn't that the place you call the Miracle Mile, Keith?
KEITH OPPENHEIM, CNN CORRESPONDENT: Yeah, the Magnificent Mile, exactly.
O'BRIEN: The Magnificent Mile, they are looking for something magnificent to happen today, I suspect, with sales kind of -- not so hot this year, right?
OPPENHEIM: Well overall it's been a really tough year, and the trend was: September and October, as you would expect, pretty awful for most retailers. The toy industry, no exception. But there was a turn around.
First before I get to all those details, let me just sort of set the scene of where we are on that Magnificent Mile. FAO Schwartz is in downtown Chicago on Michigan Avenue. This is one of the key shopping districts here.
And as I was saying, the turnaround happened in November, and as it got to December there was a real boost in toy sales. And one of the changes that happened was that parents, at least according to the analysts I've spoken to, really decided to focus on their kids and try to make a good holiday.
With me to talk about that is Katie McKay who is the General Manager here at FAO Schwartz. And Katie, we've got all these sort of firefighter and police rescue toys. They were already on the market before the attacks happened, right?
KATIE MCKAY, MANAGER, FAO SCHWARTZ: Oh, absolutely. Classic toys, like the American heroes, we've always sold those. And we've always sold them pretty steadily. But this year there was a big demand, and luckily every single toy vender has been able to keep us in stock.
OPPENHEIM: So in that sector of the market, this has been a real good thing for you, a solid seller.
MCKAY: Excellent.
OPPENHEIM: Alright, let's look at electronics and check out the Chevy Avalanche on the floor here.
MCKAY: This is an FAO exclusive item, radio controlled Avalanche, retails for $175, one of our best sellers, fully functioned.
OPPENHEIM: A little more expensive, but it can clear out your driveway or get you to work if you stand on it, right?
MCKAY: If you're in Chicago and you're stuck in a blizzard, this can definitely get you going.
OPPENHEIM: OK, now speaking of electronics, this is one -- is this new this year? This is Biobugs, right?
MCKAY: All robotic animals have become very popular, and the Biobugs are no exception. They retail for $39.99 each, they come in assorted colors. They can function by themselves, and you can control them so they walk and maneuver. But you can also have them battle against each other to see who wins.
OPPENHEIM: Right, or you can sort of move their various antennae and get them all agitated, and one of them will win and one will possibly lose. Or there could be a draw, I understand.
MCKAY: There could be a draw.
OPPENHEIM: And one thing to point out, Miles, is that the last five years, there has been this trend where for some reason, shoppers are procrastinating and waiting more and more until the last minute.
Folks like Katie McKay hope that's even more so the story this year. And that this December 24th will be a banner shopping day. That by the way is the expectation, but of course you don't know until the day is over and receipts are counted. Back to you.
O'BRIEN: So, Keith, I have to ask the obligatory anchor to report a question. Have you done your shopping?
OPPENHEIM: You know what? I did, and see the thing right here? I just wanted to be honest about it. This FAO Schwartz In Concert Karaoke machine, which I'm going to turn on . . .
O'BRIEN: No, Keith, don't do Karaoke, really,
OPPENHEIM: I'm not -- I won't sing for you, Miles.
O'BRIEN: Please, spare us.
OPPENHEIM: I bought it, and I love it.
O'BRIEN: OK, you're not telling us who it's for?
OPPENHEIM: It's for my seven-year-old. O'BRIEN: OK.
OPPENHEIM: OK, but I like it too.
O'BRIEN: You potentially might use it a little bit.
OPPENHEIM: Possibly.
O'BRIEN: Keith Oppenheim, squeezing in a little shopping if you will, and hopefully the folks in Accounting are watching his expense report very closely. Because he might try to slide that Karaoke machine in there.
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