I have a 9-year boy and when a new school year starts, he comes back home and ask for the latest craze. Last year, it was the Silly Bandz – see story in link.
(http://www.businessweek.com/magazine/content/10_25/b4183064453633.htm)
This year it’s the Rainbow Loom. To those that don’t know what this, it’s a kit that has elastics where you create bracelets. Some of the bracelet designs can be very complicated - I had to endure 1-2 hours to do 1 band for my son. The positive is that it teaches my son (and me!) patience. Also to never give up. haha! Not many toys nowadays, can get a boy to give up his electronics (X-Box, Ipod, etc.) and sit quietly to focus on creating a bracelet! So as a parent I recommend it. Once the bracelet is done, he can show off to his friends - the more complex the design, the higher the cred!
The story of how this product was created is a pretty interesting one. A 45 year old husband trying to convince his wife to go in this business. After much convincing, she agreed. Story here:
http://www.entrepreneur.com/article/228081
Is this a “one SKU Sue†? Doesn’t really matter because these things are selling like hotcakes. It retails for just under $20 and it’s sold out everywhere.
Viral Effect
I’m curious to know how this “craze†was created. These company don’t have the budget to advertise nor do they have a publicist…how does it go viral? Does the craze starts from a kid who saw it somewhere and showed it to his friends? Or is it the parent (likely mom) who saw it somewhere and bought it for the kid…either way, it would be very interesting to know...
Power of Youtube
What’s interesting about this story is that the product is fairly complex because “nobody understood how to use the productâ€. So how did they do it? Using video via Youtube to educate the kids (or parents) on how to do this.
(http://www.businessweek.com/magazine/content/10_25/b4183064453633.htm)
This year it’s the Rainbow Loom. To those that don’t know what this, it’s a kit that has elastics where you create bracelets. Some of the bracelet designs can be very complicated - I had to endure 1-2 hours to do 1 band for my son. The positive is that it teaches my son (and me!) patience. Also to never give up. haha! Not many toys nowadays, can get a boy to give up his electronics (X-Box, Ipod, etc.) and sit quietly to focus on creating a bracelet! So as a parent I recommend it. Once the bracelet is done, he can show off to his friends - the more complex the design, the higher the cred!
The story of how this product was created is a pretty interesting one. A 45 year old husband trying to convince his wife to go in this business. After much convincing, she agreed. Story here:
http://www.entrepreneur.com/article/228081
Is this a “one SKU Sue†? Doesn’t really matter because these things are selling like hotcakes. It retails for just under $20 and it’s sold out everywhere.
Viral Effect
I’m curious to know how this “craze†was created. These company don’t have the budget to advertise nor do they have a publicist…how does it go viral? Does the craze starts from a kid who saw it somewhere and showed it to his friends? Or is it the parent (likely mom) who saw it somewhere and bought it for the kid…either way, it would be very interesting to know...
Power of Youtube
What’s interesting about this story is that the product is fairly complex because “nobody understood how to use the productâ€. So how did they do it? Using video via Youtube to educate the kids (or parents) on how to do this.
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