Adults Are Buying Toys For Themselves, And It's The Biggest Source Of Growth For The Industry

[TTL News 311]

Quote

 

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.

It’s an important moment for the toy industry, too, with the holiday season upon us. While sales surged across the board for board games, puzzles and playsets during the pandemic, the first nine months of 2022 saw a 3% decline in sales volume. Higher toy prices helped outweigh these losses, as sales revenue for the time period jumped 3%, NPD reported.

Kidults, who tend to spend more on toys, have a great fondness for cartoons, superheroes and collectibles that remind them of their childhood. They buy merchandise such as action figures, Lego sets and dolls that might typically be considered “for kids.” However, in recent years, toy makers have created product lines just for these consumers, realizing that demand is high for this generation of adults who still want to have fun.

 

Read or watch the rest of the report HERE

[Chris 2,184]

Once again I heard about this on the radio this morning and they mentioned a 30% jump in toy sales for adults. 

People, including myself, are more than happy to pay a little money for nostalgia. A major part of the enjoyment, for me at least, is in the packaging. They don't investing in artwork like this anymore:

The downside I am seeing with this new "kidult" market is, the toy companies seem to be creating a false sense of scarcity of the product. Either because they don't want to have "peg warmers" ( unsold stock ) hanging out there, or they think it will get people to buy them more. Which doesn't make sense because the price gouging is happening on the secondary market, which the companies don't see any benefit from. Other than guaranteed sales of inventory.

The thing I would caution it, don't get into this because you think they'll be collectable someday. They won't be, because everyone will be keeping them in pristine condition, in the packaging, and there will never be a shortage of them 30-40 years from now. If you don't believe me, look at the Beanie Baby craze. The truly collectible toys are the ones that no one ever thought would be worth anything more than playing with in the yard.

Do it for the enjoyment. Once you put a price tag on something, it's no longer any fun.

[Hal 341]

Hey , if it gives a person pleasure to collect toys of any kind good on them !  

[Zapp Brannigan 139]

11 hours ago, Hal said:

Hey , if it gives a person pleasure to collect toys of any kind good on them !  

I buy whatever catches my eye or is on a great clearance sale. I also refused to be called a kidult

[Chris 2,184]

23 minutes ago, Zapp Brannigan said:

 I also refused to be called a kidult

[Chris 2,184]

From what I'm seeing, at least on the live auctions, is that prices are coming down on vintage stuff, particularly Star Wars right now. I've had to restrain myself from buying things I already have in my own collection.

[JustAGuy 12]

On 12/22/2022 at 6:17 AM, Zapp Brannigan said:

I buy whatever catches my eye or is on a great clearance sale. I also refused to be called a kidult

 That seems like some term coined by a Gen Zer