Toymakers See New Opportunity to Sell to Grown-up Kids
At an eCommerce portal geared toward adults, toy maker Hasbro offers items such as a $350 model of a spaceship from Star Wars.
Habro Pulse was launched in 2018 and caters to the same audience served by similar portals, products and in-stores events offered by companies and brands like Lego, Build-A-Bear and American Girl — adults who buy products like building sets, stuffed animals, action figures, games and trading cards, The Wall Street Journal reported Monday (Oct. 10).
Adults now account for 14% of U.S. toy industry sales, up from 9% in 2019, the report said, citing data from market research firm NPD Group.
What’s more, many of today’s adult buyers of toys are not just keeping these items in the package as collectibles or reselling them to turn a quick profit, but are unpacking them and engaging with them, the report stated.
This trend has been driven in part by the pandemic, during which many adults bought these products as a way to cope with stress, as well as a growing societal acceptance of adults buying these items and active discussion of these items on social media, according to the report.
The Lego Group referred to this trend in its most recent earnings release.
Read more: Lego Pursues Digital Initiatives to Keep Its Sales Growing
As PYMNTS reported Sept. 28, Lego Group attributed its 13% growth in consumer sales and 17% rise in revenue during the six months ending June 30 to a product portfolio that is larger than ever and appeals to a wide range of interests, ages and skill levels.
Similarly, in June 2021, Target and Hasbro announced they were partnering on the development of board games to appeal to consumers who had taken up the playing of those games during the pandemic restrictions.
See also: Target Hopes Branded Monopoly Game Delivers A Win
As PYMNTS reported at the time, board games have seen something of a revival as young adults look to them as a way to promote personal connections.
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