As 2024 comes to an end, strategy reached out to marketers to take stock of which trends and innovations had created the most change in the marketing industry this past year, and where the industry is moving, looking forward to 2025. Jonelle Ricketts, head of marketing for IKEA Canada, is the next in our end-of-year series.

If you, or the industry, could go back and re-do one thing in 2024, what would­ it be?

One thing that has been heavy on my heart has been seeing more organizations pull away from their equity, diversity and inclusion commitments in 2024, often trickling down to marketing initiatives as well. There are many reasons for this, whether it is related to budget reductions, re-prioritization of strategic initiatives, or giving into political or consumer pressures. As market­­ers, we can play an influential role in making progress in the industry, even if it’s only within our sphere of influence. Let’s challenge ourselves by creating opportunities for up-and-coming talent from underrepresented communities, being intentional about the partners we work with behind the scenes on our initiatives and ensuring our teams reflect the growing diversity of the communities we serve across Canada. We also have an opportunity to prioritize the development of cultural competency within our marketing teams. While we made significant strides in understanding and respecting diverse cultures, there is always room for improvement. By investing in cultural training, fostering diverse teams, and actively seeking feedback from diverse audiences, we can create campaigns that are not only effective but also culturally sensitive and inclusive.

What did you observe as being one of the more surprising events, trends, shifts or demands over the last year?

I think the state of the economy had a much bigger impact on consumer spending than many may have predicted. With thinner wallets and many Canadian consumers feeling less optimistic about the future, they are being more conscious about how and where they spend their money. And it’s not always about seeking out the lowest price in the market, it’s about value for money. We experienced that first-hand in 2024 as we invested over $80M to lower prices on over 1500 IKEA products (and growing) – making affordability a top priority. The brands that can provide their customers with affordable prices, without compromising on quality or sustainability will continue to come out on top.

If you could bet on the next big media opportunity for advertisers in 2025 – what would it be?

I think the next big media opportunity lies in experimenting with the unknown and stepping out of your comfort zone. That may look very different for each advertiser, but it comes down to being intentional about trying new things to reach both existing and new audiences. Set aside money in your budget to test and try without fear of failure and use it as an opportunity to learn. There are untapped opportunities on platforms that many advertisers may not be familiar with that will allow them to reach new audiences, whether that be younger/older generations, newcomers, multicultural audiences, etc. Continue to educate yourself on your audience’s media consumption habits and how to reach them where they want, when they want and with relevant content.

Shalin Shah, director of marketing and digital at Mattel Canada, Inc., is the next in our end-of-year series.

If you, or the industry, could go back and re-do one thing in 2024, what would it be?

Demand generation is more fragmented than ever and knowing how much content has been influential to driving kid appeal, it would merit revisiting the media mix to maximize ROAS. In addition, performance marketing is playing a critical role within the full funnel media ecosystem and balancing that spend with other elements of national media is one area to continue to optimize

What did you observe as being one of the more surprising events, trends, shifts, or demands over the last year?

Seasonality for Toys has always been heavy calendar year Q4 – while the COVID year did help deseasonalize that, we are, rapidly, going back to the legacy purchase patterns

Toy industry is rebounding in a much stronger way this holiday season than expected. The macro-economic headwinds we were facing in first half of 2024 seem to be dissipating now and the consumer confidence seems to be on the rise. A wild card this year is the Tax relief that was announced a few weeks ago and we’re waiting to understand consumer response to that

Continued emergence of Club and Value channel within Toy industry to cater to either ends of consumer spectrum is critical for our product strategy to maximize points of distribution

If you could bet on the next big marketing opportunity for brands in 2025 – what would it be?

Content is going to be the center piece of demand generation. With a strong theatrical slate in 2025 and beyond and growing VOD platforms, the opportunity to lean in on toys in a true show to shelf manner is going to play a critical role in creating demand.

Besides that, the industry is going to be challenged by our consumers, parents and gift-givers to bring in toys that incorporate innovation, newness and repeat play value. Credibility of iconic toy brand and attributes like sustainability will continue to drive preference on shelf.

Adults will continue to lean into premium toys and properties that tap into nostalgia and offer a collectible value.

For more of our Year in Review series, please check here.