Amazon private label toys (NASDAQ:AMZN) are coming in the near future, potentially altering the course for the toy industry.
The e-commerce giant has already expanded successfully into multiple industries, including the digital video and music realm, electronic reading devices and the smart home industry. Here is what you should know about the company’s foray into the world of toys:
- The news of incoming Amazon private label toys came as the company posted product pages for a number of these toys on its AmazonBasics line.
- The list includes items for toddlers and young children, such as a “climb and crawl play set,” as well as a bin designed for kids to organize their toys.
- The move is one that could upset the order in the toy world as Hasbro (NASDAQ:HAS) and Mattel (NASDAQ:MAT) both saw their stocks drop following the news. HAS shares declined 0.9% on Monday, while MAT shares are down 4.3%.
- The Amazon private label toys may also reach some of the former Toys R Us customers following the toy retail chain’s bankruptcy this year.
- The e-commerce company already sent out its first holiday catalog to millions of its customers in November.
AMZN stock is up about 0.6% on Monday. The stock experienced a bit of a drop earlier in the day before surging back up later on.