“Kidults” are driving the toy industry as older shoppers splurge on superheroes and building sets
Watch out, kids… there's a new demo taking over toy aisles this holiday szn. A recent report said "kidults" (aka people aged 12+) now make up a fourth of all US toy sales and 60% of the industry's dollar growth. FYI: People typically drop off from buying toys in their early teens, but that trend’s shifting.
- Adult prices: While US toy sales fell slightly in the first nine months of this year, inflated price tags helped to drive revenue 3% higher.
- Childhood dreams: Kidults account for just 5% of global toy sales, but generate $9B in annual revenue.
Three-hour checkout line… for an $850 Millennium Falcon Lego set. The pandemic was a boom time for the toy biz, as home-bound adults splurged on board games and 1K piece puzzles. And the popularity looks to have stuck: last year, the global toy market had its best sales in a decade, with the US driving most of the growth. Now toy makers are creating more adult-friendly products to capture grown-ups' inner child (and their wallets).
- Lego, the world’s largest toy maker, posted record sales in September as adults splurged on "Harry Potter"- and "Star Wars"-themed sets.
- Build-A-Bear says 40% of its sales now come from adults and teens, up from 20% in 2012.
- Hasbro and Mattel ramped up marketing for Disney’s Marvel superheroes figurines, and ’90s toy icons like Barbie, Pokémon, and Hot Wheels.
Toy lovers are growing up… and the industry's following suit. Serving kidults is becoming a winning strategy as they’re seen as willing to spend serious $$ on themselves. (Even McDonald’s started selling adult happy meals.) The kidult demo could be extra important for toymakers this holiday szn, as many expect the game-lovin' grown-ups to purchase toys for the kids and fellow adults in their lives.