Will a Target-themed Monopoly game be a winner?
Target has partnered with Hasbro to introduce a limited-edition, Target-themed Monopoly game to debut later this summer.
To play Target Monopoly, players spin the dice and land on “Items” that they put in their red Target basket. They then head to Check Out (the Go or Free Parking spaces on the traditional game). Instead of purchasing Park Place and Boardwalk, players have a chance to land on tablets and televisions.
Mimicking the Target Circle loyalty program, players can double or triple their savings by capturing Circle tokens along the way. The player with the most savings at final checkout wins.
“Monopoly: Target Edition is the latest example of how we are always exploring new ways to spark moments of joy with all of our guests within our curated assortment of fan-favorite and Target-exclusive games and toys,” said Nik Near, SVP, hardlines, Target, in a statement.
Board games took off as a result of the stay-at-home trend during the pandemic. The games and puzzles category from January through April on a two-year CAGR basis grew 34 percent, the fastest growth versus 2019 of all toy “super categories,” according to The NPD Group. Monopoly had its best year ever for Hasbro in 2020.
Limited-edition products continue to expand as an opportunity across categories. Monopoly has come out with hundreds of limited-edition versions, including ones recently around Carnival Cruise Lines, St. Andrews golf course and Pacman’s 40th anniversary. Some fetch exorbitant prices on eBay.
Target claims to be the first retailer to have a branded Monopoly game through Hasbro.
Perhaps the unique aspect is the fact that the Monopoly partnership marks a rare branding opportunity for a retailer in the CPG space.
Apparel specialty chains such as Old Navy and Abercrombie & Fitch have made a living splaying their names across t-shirts and other products. Mega-retailers such as Amazon.com, Walmart and Costco, however, have not done much to take advantage of their name recognition as a merchandising opportunity, especially when it comes to appealing to fans with collector-type items.
Target has had some success with branded items around its Bullseye terrier mascot, including the introduction in 2018 of a Target Bullseye Funko Pop! figure.
- Do Not Pass Go … Without Feasting Your Eyes on This Exclusive Target Edition of Monopoly – Target
- New Monopoly: Target Edition – Target
- The NPD Group: U.S. Toy Industry Sales Experience +27% Increase Year-to-Date – The NPD Group
- Hasbro Fourth Quarter and Full-Year 2020 Financial Results Conference Call Management Remarks – Hasbro
- Target Hopes Branded Monopoly Game Delivers A Win – PYMNTS
DISCUSSION QUESTIONS: How popular do you expect the Target-themed Monopoly game to be with the retailer’s customers? Do you expect Target and other retailers to launch more of their own-themed merchandise for loyal customers and collectors?