Friday, 2 February 2024

Kidult Toy Market

Sales to so-called "kidults" rose by 6% last year, bucking the 5% downturn in toy sales as a whole in the UK. Adopting a "can't beat them, join them" approach means this group is buying enough games and toys to account for more than a quarter of the market. Analysts suggest that is now worth more than £1bn a year. "The main reasons adults said they were buying for themselves was because toys were fun and also good for their mental health," said Melissa Symonds, executive director at toy data tracking company Circana. Toy manufacturers and retailers had a year to forget last year, with the number of sales down by 7% and a 5% drop in the value of toy trading. A wet summer particularly hit outdoor toys and games sales, while cost of living pressures put a lid on small, impulse buys. However, the UK market remains one of the biggest in Europe, worth £3.5bn last year. The annual Toy Fair, a three-day trade show at London's Olympia, has just ended. Observers would have noted that many of the big companies are increasingly targeting a range of age groups, not just primary and pre-schoolers. Kidults are defined as aged 12 and over, but Ms Symonds said it was the over 18s driving the increase in sales to this group. The enthusiasm of older players, via specialist events, shops and cafes accounts for part of the rise in popularity of kidult games. Lockdown days during the pandemic also saw families stuck at home dust off the games cupboard. Simple economics were also at play here, she said. A falling birth rate means there are fewer children for whom to buy toys. The toy sector has had a tough year, but second childhoods may just have provided a new seam to exploit.