VERTICALFOCUS TOPTOYTRENDS IN2022 Toy supply chains will focus on sustainability, escapism, and sensory products, with a strong focus on creative play, says the Toy Association. Here are the top trends expected to drive consumer spending on toys in 2022, the report says: 1. Content Creation From food play toys to artistic and building toys, items that encourage kids to use their imaginations and customize their own experiences, like content creators, are on the rise. It's also a trend that encourages intergenerational play between kids and parents, as well as one that taps into science, technology, engineering, arts, and math skills. 2. Escapism Most (76%) parents believe play provides a positive escape from the reality of the pandemic. More toys will focus on escapism to decompress from day-to-day life. This includes a mix of travel-ready toys and games and international- themed puzzles and games that take kids on adventures. This trend transports players into the digital world, such as NFTs, virtual reality, and toys tied to video games. 3. Sensory Toys Spurred by viral videos on platforms like TikTok, autonomous sensory meridian response (ASMR) has become synonymous with creating soothing moments out of mundane activities. More toys, such as light-up objects that let kids express their changing moods, dget play, and toys that provide calming social-emotional comfort, will
LEGO BUILDS MOMENTUM No matter how pricey they get, Legos remain one of the most loved toys in the United States ( see infographic ), according to recent research by toy company Premium Joy. Four expensive Lego sets, the cheapest of which costs $200, are the most popular toys in 34 states. Lego Home Alone is the most popular toy overall, even though it costs $250. The second most popular toy, Lego Titanic, costs $630 and is one of the most expensive sets Lego currently offers. Consumers sometimes get attached to a particular toy because it evokes nostalgia. “Kidult” toys have surged in popularity as young adults look to childhood toys for comfort during the pandemic. In the past year, about 25% of all toy sales have gone to young adults aged 19 to 29, reports Toy World . Lego has tailored its supply chain strategy to meet the demands of adult consumers bored with being confined at home. To make products more readily available, Lego has expanded its retail footprint away from major shopping centers and into the suburbs closer to its consumers, the company says.
engage the senses in this manner. 4. Social and Environmental Good
Most (78%) parents say a toy's sustainability is important to them. In 2022, many toys will not only incorporate more sustainable materials, but also emphasize a commitment to teaching kids how to be better global citizens. From the protection of endangered species to social justice issues, products that walk the walk resonate with consumers. As this trend grows, toys become tools for engaging kids in critical issues.
Source: Premium Joy
TOY PLAYERS STAY IN THE GAME
• Mattel expects strong growth from Hot Wheels, Barbie, Thomas & Friends, and action gures, driven by movie tie-ins with Jurassic World Dominion and Lightyear. • Mattel's recent agreement with Disney to make dolls for Disney Princess and Frozen will be a big sales driver in 2023. • Hasbro's net revenue rose to $1.7 billion in Q4, from $1.43 billion one year earlier. • Hasbro surpassed estimates for quarterly revenue in February 2022, boosted by demand for its board games, such as Monopoly, and collectible cards from consumers seeking at-home entertainment.
Despite supply chain issues and higher consumer prices across the toy industry, toymakers Mattel and Hasbro experienced solid growth during the pandemic, says a NASDAQ report. Parents have been spending more on toys and board games to keep children occupied due to limited vacations, boosting sales during the crucial 2021 holiday period. Highlights include: • Mattel saw 10% year-on-year sales growth during the holiday quarter, and growth is projected to continue in the near term, with strong Q4 earnings in February. • Mattel gained global market share within the dolls category in 2021, with Barbie ranking as the No. 1 toy brand globally.
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