In the first quarter of this year, adults spent $1.5 billion on toy-related purchases, surpassing the historically dominant preschooler market for the first time ever. Circana, a market research firm, reported that consumers aged 18 and up have become the most important age group for the toy industry, overtaking the three-to-five-year-old demographic. Looking back over the past year, as many as 43% of adults purchased toys for themselves, citing reasons such as personal fun, socialization, and collecting as their motivations.
Popular toy products among adults include trading cards, Squishmallows, Lego sets, and sports toys. Despite an overall 1% decline in toy industry dollar sales through April compared to the same period last year, sales are up 38% compared to 2019. Circana attributes this growth to factors such as the growing adult toy market, the spending power of higher income households, and the influence of grandparents. However, potential challenges like rising household debt and fluctuating consumer confidence could pose obstacles to continued growth in the industry.
While adult toy collecting has been a niche market for brands like Barbie and Hot Wheels, industry experts note that this trend has gone mainstream in the past five years, accelerated by the pandemic. With increased time spent at home, many adults sought to reconnect with the toys that brought them joy in their childhood. This led to a surge in interest in collectibles, board games, Lego building sets, and trading cards among adults. Some toymakers are now introducing new products specifically tailored for the adult market, such as action figures inspired by animated series geared towards adult audiences and collectible helmets based on popular franchises like Star Wars.
Industry experts point out that traditional modeling kits popular among older shoppers have been replaced by Lego sets, which appeal to a wide age range and have therapeutic benefits for adults. The trend of adults buying toys for themselves is expected to continue growing, driven by factors such as nostalgia, increased disposable income, and a desire for recreational activities. As the adult toy market becomes more prominent, toymakers are responding by developing products that cater to the preferences and interests of this demographic, leading to continued innovation and growth in the industry.
