Sharon Price John, the dynamic President and CEO of build-A-Bear Workshop, has successfully transformed the brand from a struggling entity into a thriving toy empire since taking the helm in 2013.Under her leadership, the company has implemented innovative strategies that not only revitalized its profitability but also engaged a new generation of customers. Notably, in 2018, Build-A-Bear achieved a remarkable milestone by garnering over one billion media impressions in a single day, showcasing the effectiveness of her turnaround tactics. John’s approach emphasizes adaptability and creativity, positioning Build-A-Bear as a leader in the competitive toy market and setting a benchmark for brand rejuvenation in the retail sector [1[1[1[1][3[3[3[3].
Transforming a Brand: A Discussion with Sharon Price John, CEO of Build-A-Bear Workshop
Time.news Editor: Welcome, Sharon. It’s a pleasure to have you here to discuss the unbelievable turnaround of Build-A-Bear workshop as you became CEO in 2013. What were the initial challenges you faced when you took on this role?
Sharon Price John: Thank you for having me! When I joined Build-A-Bear, the company was experiencing significant financial challenges amid what many called the “retail apocalypse.” It was clear that we needed both a financial turnaround and strategic evolution to engage our customers effectively. The first step was to understand our brand and what it meant to the families who visited our stores.
Time.news Editor: It sounds like you had a monumental task ahead. What innovative strategies did you implement to revive Build-A-Bear’s profitability?
Sharon Price John: We adopted a customer-centric approach, focusing on creating unique experiences rather than just selling products. Our theme parks in stores, interactive experiences, and the ”Create Your Own” concept resonated with families. we also enhanced our online presence,recognizing the importance of e-commerce in today’s retail landscape.
Time.news Editor: Those shifts must have contributed to some impressive results. Could you elaborate on the 2018 milestone where Build-A-Bear gained over one billion media impressions in a single day?
Sharon Price john: Absolutely! That was primarily driven by our “Pay Your Age” promotion, which generated massive interest and media coverage. This campaign highlighted our commitment to making memories rather than merely transactions. It was an example of how tapping into emotional engagement can lead to substantial visibility and brand loyalty.
Time.news Editor: Emotional engagement seems to be a key aspect of your strategy. How do you foresee this impacting the toy market moving forward?
Sharon Price John: As the toy market becomes increasingly competitive, brands must focus on creating deeper connections with consumers. Today’s families are looking for experiences that they can share rather than just products to purchase. Personalization, engagement, and community-building will be essential for any brand looking to thrive.
Time.news Editor: Speaking of community, how significant is adaptability in today’s retail habitat, especially given the rapid changes in consumer behavior?
Sharon Price John: Adaptability is crucial. At Build-A-Bear,we continuously seek to innovate,whether through digital enhancements or new product lines that reflect current trends. Being attuned to consumer feedback and market shifts allows us to pivot quickly and maintain relevance in a fast-paced environment.
Time.news Editor: That’s a valuable insight. For other businesses looking to rejuvenate their brands, what practical advice would you offer based on your experiences?
Sharon Price John: I would emphasize the importance of listening to your customers. Conducting surveys, engaging on social media, and being receptive to feedback can guide your strategic decisions. Additionally,embrace flexibility; the ability to adapt is key in today’s market.Lastly, invest in your people, as a motivated and engaged team can drive innovation and customer engagement.
Time.news Editor: Sharon, thank you for sharing your insights and experiences with us. It’s clear that leadership and vision can indeed transform a struggling brand into a thriving empire.
Sharon Price John: Thank you for having me! It’s been a pleasure discussing the journey of Build-A-Bear and the importance of passion and creativity in business.