It seems Geoffry, the famousToys R Us giraffe, had it right…. The kids didn’t wanna grow up.
Research by the Toy Association indicates that over 60% of toy industry revenue now comes from consumers aged 13 and older - and this ”kidult” trend is reshaping how retailers and manufacturers approach product development, marketing, and sales strategies.
This demographic is characterized by a blend of teenagers and adults who engage with toys both for personal enjoyment and as collectible items.
The increasing engagement of adults in the toy market is driven by various factors, including nostalgia, the desire for stress relief, and the appeal of sophisticated, collectible items. Hasbro has leveraged its digital platforms like D&D Beyond and products such as Magic: The Gathering to appeal to older audiences. These platforms offer a hybrid experience that combines physical and digital play, catering to the preferences of a tech-savvy demographic.
The company's CEO, Chris Cocks, emphasized the importance of digital engagement and direct-to-consumer strategies in a recent earnings call, noting that play is becoming more digital and international.
Mattel has successfully revived interest in iconic brands through partnerships and new product lines. For example, the company has teamed up with Fremantle to create a reality show based on the classic arcade game Whac-A-Mole, capitalizing on the nostalgia factor while introducing the game to a new generation of players.
Partnerships with entertainment giants and licensing deals are crucial for broadening the appeal of toy brands.
Hasbro's collaboration with Disney to launch a Peppa Pig theme park in Germany exemplifies how strategic partnerships can extend the reach of toy brands beyond traditional retail aisles into immersive experiences. Such initiatives not only attract adult fans but also create opportunities for family engagement, enhancing brand loyalty across generations.
Walmart has recognized the growing importance of the kidult market and has adapted its strategies to cater to this demographic. The retail giant has expanded its toy offerings to include more products that appeal to adult collectors and hobbyists.
This includes an increased focus on collectibles, such as action figures, model kits, and limited-edition items that resonate with adult buyers.
Walmart's extensive distribution network and robust online presence enable it to reach a broad audience, ensuring that these products are accessible to kidults across various regions.
Additionally, Walmart has leveraged its significant retail footprint to create in-store experiences that appeal to adult toy buyers. By dedicating sections of its stores to high-end collectibles and partnering with popular franchises, Walmart has created a shopping environment that attracts adult consumers. This strategy not only drives sales but also enhances the overall shopping experience, encouraging repeat visits and fostering brand loyalty.
Walmart's marketing efforts have also evolved to target kidults more effectively. The company utilizes digital marketing channels, including social media and email campaigns, to promote its toy offerings to adult consumers.
By highlighting the nostalgic and collectible aspects of these products, Walmart taps into the emotional connections that many adults have with toys from their childhood.
Despite the opportunities, the shift towards catering to adult toy buyers presents challenges. Maintaining a balance between appealing to children and adults requires careful product design and marketing.
Additionally, the economic downturn has impacted discretionary spending, making it essential for retailers to offer compelling value propositions to attract and retain customers.
However, the increasing popularity of collectible and premium toys offers a lucrative opportunity. Limited edition releases, high-quality craftsmanship, and tie-ins with popular franchises can drive demand among adult collectors. Retailers that can effectively navigate these dynamics are well-positioned to capitalize on the growing kidult market.
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