Kidults lift up a softer US toy market
According to the latest sales results from Circana, the US toy industry showed signs of a soft decline in Q1 2024, with toy sales down by just 1% (US$97 million) compared to the same period last year.
But solid growth in the kidult market is keeping this decline in check. The research firm’s retail tracking software shows that consumers ages 18 and up were behind more than US$1.5 billion in toy sales from January to April, overtaking the preschool segment for the first time to become the industry’s most important demographic. Circana also notes that 43% of adults in the US purchased a toy for themselves in the past year.
Circana’s top-10 list of best-selling toys
And this shift is reflected in Circana’s top-10 list of best-selling toys in Q1, which includes collector-friendly items like Hot Wheels vehicles, Pokémon Trading Card Game Elite Trainer Boxes and new NFL/NHL sports cards. Jazwares’ Squishmallows was the top-performing toy brand this quarter, taking the number-one ranking and three other top-10 spots.
Meanwhile, seasonal sales lifts from Valentine’s Day and Easter propelled the building sets, explorative toys and vehicles categories to achieve year-over-year growth this quarter. Driving these categories in the US were products such as LEGO Icons sets, Miniverse collectibles from MGA Entertainment and Spin Master’s assortment of Monster Jam trucks and playsets.