"Kidults" are the biggest source of growth for the toy industry
Posted: Mon Dec 19, 2022 1:16 pmReminder: even for collector-friendly lines, adults may not be the majority audience. However, they're an important market segment, and a bright spot for the industry.
NBC News, Business: "Adults are buying toys for themselves, and it’s the biggest source of growth for the industry"
https://www.nbcnews.com/business/business-news/adults-are-buying-toys-s-biggest-source-growth-industry-rcna62354
"There are two things keeping the toy industry afloat right now: inflation and a consumer group known as “kidults.”
"These kids at heart are responsible for one-fourth of all toy sales annually, around $9 billion worth, and are the biggest driver of growth throughout the industry, according to data from the NPD Group.
"This cohort, which NPD defines as ages 12 and older, has been steadily contributing to the industry for years, but spending has accelerated in the wake of the pandemic, leading to year-over-year gains despite tough comparisons."
...
"Toy manufacturers such as Lego embraced these consumers and created lines, often tied to nostalgic entertainment properties, just for this cohort. Hasbro’s Black Series for action figures, is a prime example of this, tapping into the desire for high-quality Star Wars and Marvel collectibles. Even Mattel has lines from Barbie and Hot Wheels that are designed specifically for this group of buyers."
I have claimed for years now, without direct evidence and against justifiable pushback, that the Generations line has become an example of this. This doesn't address that view at all, but it reinforces the broader perspective I've been pushing.
NBC News, Business: "Adults are buying toys for themselves, and it’s the biggest source of growth for the industry"
https://www.nbcnews.com/business/business-news/adults-are-buying-toys-s-biggest-source-growth-industry-rcna62354
"There are two things keeping the toy industry afloat right now: inflation and a consumer group known as “kidults.”
"These kids at heart are responsible for one-fourth of all toy sales annually, around $9 billion worth, and are the biggest driver of growth throughout the industry, according to data from the NPD Group.
"This cohort, which NPD defines as ages 12 and older, has been steadily contributing to the industry for years, but spending has accelerated in the wake of the pandemic, leading to year-over-year gains despite tough comparisons."
...
"Toy manufacturers such as Lego embraced these consumers and created lines, often tied to nostalgic entertainment properties, just for this cohort. Hasbro’s Black Series for action figures, is a prime example of this, tapping into the desire for high-quality Star Wars and Marvel collectibles. Even Mattel has lines from Barbie and Hot Wheels that are designed specifically for this group of buyers."
I have claimed for years now, without direct evidence and against justifiable pushback, that the Generations line has become an example of this. This doesn't address that view at all, but it reinforces the broader perspective I've been pushing.