Toys are a big business in the United States. With billions of dollars spent every year, it is each year’s trends that drive the toy industry. Here are seven that are driving it in 2021.
1. Tie-Ins To TV And Movie Franchises
Without a doubt, this year’s biggest trend in the toy industry is tie-ins to TV and movie franchises.
Between 2019 and 2021, toys that tied in with a TV show or movie saw a revenue increase of 19%. In comparison, toys that don’t tie into a movie or TV show only saw a revenue increase of less than 10%.
One of the biggest name brands to capitalize on this trend was Disney+. As of mid-2021, close to 95 million users subscribe to the channel.
In the summer of 2020, when Disney released Soul exclusively to Disney+ members, every major retailer in the U.S. carried merchandise from the movie. Stores like Shogun Toys also carry collectibles from movie franchises like Gozilla, which is getting a lot of attention the last decade with more movies coming out.
2. Classic Toys Are In Demand
Classic toys, due to their nostalgic factor, are becoming increasingly popular with parents throughout the country. This includes the Tonka Mighty Dump Truck. By the end of October 2020, sales of this toy saw an increase in excess of 250%.
Another classic toy still in demand is Care Bears. In a recent interview with the company’s CEO, he stated that 2020’s Christmas season was set to be their most profitable. At that time, the sale of Care Bears was three times higher than anticipated.
3. The Environment Is An Increasingly Large Concern
Today’s parents expect toy manufacturers to practice environmentally friendly procedures. Despite plastic being the material most commonly used to make toys, most of them cannot be recycled.
In addition to plastic, the majority of toys are also made using metals. For this reason, few if any recycling companies will accept these toys. In response, Mattel and Hasbro have begun to make their toys in ways that make recycling them possible.
4. Subscription Services For Toys Are Very Popular
Thanks to new subscription services, parents are able to rent toys for their children. Those who have a subscription receive a package full of toys in the mail on a monthly basis. Revenues from these services have gone as high as $100 million.
5. Unboxing Toys
Numerous YouTube stars have made their mark by opening and reviewing toys on camera. This led to the creation of mystery boxes of toys. There is no indication on the outside of these boxes as to what the toys inside are.
The most well-known example of this is Tween L.O.L. Surprise! dolls. These multilayer dolls feature a different toy in each layer. Attend L.O.L Surprise ultimate party, 707 Day, with a free virtual event and concert on Jul. 7 at 9 a.m. PST/12 p.m. EST.
6. Tech Toys Are More Advanced Than Ever
Today’s tech toys are designed to make playtime educational. Some allow kids to create their own games, while others can pick up on a kid’s emotions.
7. Teaching Toys Are Parents’ Preference
The market for educational toys is growing quickly. It has been predicted that by 2024, the industry will have exceeded $24 billion in sales.
These seven trends are changing the ways in which toys are manufactured. The end result is toys that kids and parents both prefer.
