08:32-015:10 Leveraging Consumer Insights and Direct-to-Consumer Channels — Mattel’s innovation process is deeply rooted in extensive research and consumer insights, ensuring that their products resonate with both children and parents. Mattel’s typical timeline from concept to shelf is about 18 months, but with robust insights and testing processes, they can fast-track products even faster. Real-time feedback allows for continuous refinements, enhancing product appeal and functionality to meet end-user expectations. Additionally, Mattel’s direct-to-consumer (DTC) channels, such as American Girl and Mattel Creations, provide extensive consumer data, allowing for better engagement and personalized experiences. 

00:21:25-00:23:02 AI Driving Innovation — Artificial intelligence plays a pivotal role in different parts of Mattel, driving innovation and enhancing operations across the company. Totzke explains how by using AI tools, Mattel can create detailed storyboards, refine packaging designs, and fast-track image generation. These technologies help streamline processes, improve product design, and enhance marketing strategies, ensuring Mattel stays ahead in the competitive toy industry.