Episode #11: Predicting Toy Market Trends After Coronavirus
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Let's be honest, the market is changing.
We're in the midst of a serious shift in the way we live, and life and business as we know it is changing drastically each and every day.
Having the ability and know-how to pivot and adjust your business to fit market needs is paramount in assuring long term success.
So for this episode, The Toy Coach dives into a detailed conversation exploring how the current coronavirus pandemic has and will continue to affect the toy industry. What categories will thrive? What categories will fail? Azhelle introduces her process for analyzing and predicting market trends. The Toy Coach walks you, step-by-step, through her own analysis of the market shift caused by the current pandemic.
Learn how to create your own Market Shift Mind Map inside this insightful episode.
Ready to learn more? Pop in your earbuds and listen in!
LEARN HOW TO CREATE A MARKET SHIFT MIND MAP
A mind map is a type of diagram that allows you to visually organize information.
In episode 11 of MITTI, Azhelle teaches you how to create a specific type of mind map, she calls the Market Shift Mind Map.
Utilizing the four major branches that Azhelle details in this episode, you will be guided to identifying and predicting future market trends of your own. To start you have to know what your cause of change is, in this episode, we focus on the coronavirus epidemic. And from there you need to pull out 4 branches and answer 4 questions.
Download the COVID-19 Market Shift Mind Map below to follow along.
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COVID-19 Market Shift Mind Map
Branch #1 What Are The Immediate Effects?
The question this branch will answer is “What’s currently on the rise during the epidemic? What are current social or economic trends that are on the rise due to its occurrence?”
Branch #2 What Will Increase In Value?
The question that this branch will answer is, “What is or will become more important or valuable to people as a result of this epidemic? You could also think about what will they miss or feel they need to post this event?”
Branch #3 What Will Decrease In Value?
The question posed for this branch will be “What will become less important to people as a result of this epidemic? Or what will they no longer value?”
Branch #4 Who are the Heroes?
Who will be known as the heroes or leaders that carried the country or world through this time?
Once you understand each of those major branches, you have the foundation of your Market Shift Mind Map.
Now, to answer these questions, you’ll analyze the cause of change and consider how it may affect each of those four branches. Then, you’ll pull out sub-branches from each of those four major branches that answer the questions inside of them.