Adults are flocking to the toy aisle even more than preschoolers
CNN
Adults bought more toys for themselves than for any other age group last quarter for the first time ever, surpassing toys for even the historically-dominant preschooler market.
Adults bought more toys for themselves than for any other age group last quarter for the first time ever, surpassing toys for even the historically-dominant preschooler market. Consumers 18 years of age and up spent $1.5 billion in toy-related purchases in the period from January through April, overtaking the three-to five-year-old demographic as the most important age group for the toy industry, according to a new report from market research firm Circana. Looking back over a longer period, the report said as many as 43% of adults purchased a toy for themselves in the past year, with the top reasons being for personal fun, socialization and for collecting. Trading cards, Squishmallows (which are a rage across age groups), Lego sets and sports toys were among the most sought-after toy products in the period, the report said. As adults play with toys more and more, the trend bodes well to counter the decline in overall toy sales. Circana said toy industry dollar sales declined by 1% through April, versus the same period a year ago but are still up 38% compared to 2019. “Tailwinds, like the growing adult toy market and spending power of higher income households and grandparents, drive positive trends,” Juli Lennett, vice president and toy industry advisor at Circana, said in the report. “However, headwinds like rising household debt, slowing GDP growth, and fluctuating consumer confidence indicate potential challenges. “
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