Going viral

We just returned from Melbourne, where we exhibited at the industry’s annual Toy Fair. What a strange week it has been! The coronavirus virus that first hit the news last December dominated headlines all week, and its impact was clear.

For example, the All Ordinaries Index retreated from its record high set on 20 February. It’s lost more than 15% of its value in the last two weeks. Fortuitously, Garry and I had already begun converting our Super balances to cash. We’re shifting our accounts to a new firm and thus had to liquidate our investments. The timing couldn’t been better had we planned it. 

At the show several attendees refused to shake my hand, and every Chinese exhibitor had cancelled their stand. They were forced to withdraw from the show after travel restrictions from China were introduced by the Federal Government on 1 February.

As a result, our stand ended up in a wide-open space rather than an evenly framed aisle. I took advantage of the unexpected feature wall and transformed it into a billboard for Bigjigs, one of our newest brands. This made our recently expanded custom-built stand look better than ever.

This isn’t the first time we’ve seen the coronavirus impacting a trade show. Last month while at Spielwarenmesse, the international toy fair in Nuremberg, we witnessed people avoiding Hall 11. This is where the Chinese factories normally exhibit. Garry and I passed through the hall on our way to a meeting elsewhere. The normally bustling venue was devoid of attendees, leaving forlorn Chinese exhibitors milling around with little to do.

I’m also proud to report that we've secured a Toy of the Year award for one of our top-selling products. It’s the fifth industry award we’ve secured in the last five years, and our first Australian Toy Association product award.