In our episode of Toy Business Unboxed, our host Jason Hsieh, a seasoned toy entrepreneur, shares insights on the toy industry, emphasizing the importance of passion and perseverance. Jason discusses the current issue of tariffs affecting toy manufacturing, particularly for those whose production is based in China. He offers strategies to mitigate these impacts, such as utilizing Amazon Global Logistics and Warehouse Distribution services to cut costs, considering new manufacturing regions, and re-negotiating freight and payment terms with suppliers. Additionally, he highlights the benefits of potential packaging adjustments and simplifying product designs to maintain profitability. The episode touches on the importance of conducting a tariff impact assessment and offers free consultations to help toy businesses navigate these challenges.
⭐Highlights:
00:00 Introduction to Toy Business Unboxed
00:42 Challenges in the Toy Industry: Tariffs and Manufacturing
01:24 Strategies to Tariff-Proof Your Toy Business
03:28 Jason Hsieh's Background and Business Ventures
07:22 Amazon Programs for Cost Reduction
16:12 Diversifying Manufacturing and Packaging Optimization
21:25 Negotiating Better Terms with Manufacturers
30:47 Tariff Impact Assessment and Profitability Audit
34:02 Q&A Session and Closing Remarks
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