Week of August 5 - 9
- Merger Announcement: The Toy Association™ and People of Play™ Join Forces: The merger of The Toy Association™ and People of Play™ (formerly Chicago Toy & Game Group) promises to create a more robust and unified voice for the toy industry. By combining their resources, expertise, and networks, the two organizations aim to foster innovation, advocate for the industry, and support the growth and success of toy professionals and businesses. The merger is expected to lead to new initiatives, enhanced educational programs, and expanded networking opportunities for the toy community.
- Summary: The merger of The Toy Association™ and People of Play™ promises to create a more robust and unified voice for the toy industry.
- Source: The Toy Association - The Toy Association and People of Play Announce Merger
- Further Information: Look for further updates on the merger and its implications on the toy industry on the official websites of The Toy Association (https://www.toyassociation.org/) and People of Play (https://www.peopleofplay.com/).
- Industry Gathers for "Party with a Purpose": The Toy Foundation's annual fundraising gala, "Party with a Purpose," was a resounding success, raising over $1 million for children in need. The event brought together industry leaders, including major retailers and manufacturers, to celebrate the power of play and support charitable initiatives that provide toys, play spaces, and therapeutic play programs to children facing challenges such as illness, poverty, and displacement. The gala also showcased the toy industry's commitment to corporate social responsibility and its positive impact on communities around the world.
- Summary: The Toy Foundation's annual fundraising gala raised over $1 million for children in need.
- Source: The Toy Association - The Toy Foundation’s Annual ‘Party with a Purpose’ Gala Raises $1 Million+ for Children in Need
- Further Information: The Toy Foundation's website (https://www.toyfoundation.org/) would have more information on the event and its impact.
- Looking Ahead to 2025: Toy Industry Hall of Fame Nominations Open: The opening of nominations for the 2025 Toy Industry Hall of Fame marks an opportunity to celebrate the visionaries, innovators, and leaders who have shaped the toy industry and left a lasting legacy on the world of play. The Hall of Fame honors individuals who have demonstrated exceptional creativity, business acumen, and commitment to the betterment of the industry and society. It serves as a reminder of the profound impact that toys and play have on children's lives and the enduring power of imagination.
- Summary: The opening of nominations for the 2025 Toy Industry Hall of Fame marks an opportunity to celebrate industry leaders.
- Source: The Toy Association - Call for Nominations: 2025 Toy Industry Hall of Fame
- Further Information: The Toy Industry Hall of Fame's website would provide information on past inductees and the nomination process.
- Fall Preview Excitement Builds with New App: The launch of the LA Fall Preview app signifies the growing anticipation for the upcoming marketplace event. The app, designed to enhance the attendee experience, provides a wealth of information about exhibitors, products, and events. It allows buyers and sellers to connect more efficiently, discover new trends, and make informed purchasing decisions. The app also reflects the toy industry's embrace of technology and its efforts to streamline business operations and facilitate meaningful interactions among industry professionals.
- Summary: The launch of the LA Fall Preview app signifies the growing anticipation for the upcoming marketplace event.
- Source: The Toy Association - LA Fall Preview App Now Available
- Further Information: The official LA Fall Preview website would have additional information about the event and the app.
- CPSC Budget Concerns Raised in House Hearing: The House hearing on the Consumer Product Safety Commission's (CPSC) budget request for the 2025 fiscal year underscores the ongoing debate about the agency's funding and its ability to fulfill its mandate of protecting consumers from unsafe products. Toy safety advocates argue that adequate funding is crucial for the CPSC to effectively enforce regulations, conduct research, and respond to emerging safety threats. The hearing highlights the importance of continued investment in consumer protection and the need for collaboration between government, industry, and consumer groups to ensure the safety of toys and other products.
- Summary: The House hearing on the Consumer Product Safety Commission's budget request for the 2025 fiscal year underscores the ongoing debate about the agency's funding.
- Source: The Toy Association - House Subcommittee Holds Hearing on CPSC’s FY 2025 Budget Request
- Further Information: The Consumer Product Safety Commission's website (https://www.cpsc.gov/) would provide updates on the budget request and related activities.
Week of July 29 - August 4
- Barbie's Inclusive Push Continues with New Dolls: Mattel expanded its Barbie Fashionistas line with dolls featuring wheelchairs and prosthetic limbs. This initiative, applauded by disability advocates, aligns with Mattel's ongoing efforts to make Barbie more representative of the diverse world children live in. The company's commitment to inclusivity in play aims to foster greater acceptance and understanding among young minds.
- Source: Mattel Newsroom - Mattel Expands Barbie Fashionistas Line with New Dolls Featuring Wheelchairs and Prosthetic Limbs
- "Traditional" Toys Still Reign Supreme According to Study: A survey by The Genius of Play found that 78% of adults prefer children to play with "traditional" toys like building blocks and dolls. This preference highlights a potential disconnect between adult perceptions and the realities of children's play in a digital age. While traditional toys encourage creativity and hands-on learning, the study raises questions about the role of technology in child development and how to strike a balance between digital and physical play.
- The Dark Side of Connected Toys: Vulnerabilities to Hacking Exposed: Recent reports revealed how hackers can exploit vulnerabilities in internet-connected toys and baby monitors, gaining access to personal data, spying on families, or even communicating directly with children. These incidents serve as a stark reminder of the potential dangers of smart toys and the critical importance of cybersecurity in the toy industry. Parents are urged to be cautious about the connected devices they allow into their homes and to take steps to protect their children's privacy and safety.
- McDonald's Happy Meal Nostalgia Sparks Bidding War: A vintage McDonald's Happy Meal toy featuring "Dino Happy" from the 1990s fetched a surprising £340 ($435) on the BBC's Antiques Roadshow. This unexpected windfall demonstrates the enduring appeal of fast-food collectibles and the power of nostalgia. It also highlights the growing market for vintage toys, as collectors seek to reconnect with their childhood memories and invest in items with sentimental and potential financial value.
- Source: Metro - Rare McDonald's Happy Meal toy valued at staggering £340 on Antiques Roadshow
- Controversy Erupts Over STD-Inspired Toys in the US: The introduction of toys inspired by sexually transmitted diseases (STDs) like chlamydia and syphilis drew sharp criticism from parents, health experts, and child advocates. Critics argue that these toys are inappropriate, trivialize serious health issues, and could contribute to the spread of misinformation among children. The controversy raises important questions about the boundaries of play and the responsibility of toy manufacturers to create products that are both entertaining and educational without crossing ethical lines.
- Source: The Independent - Toys inspired by sexually transmitted diseases cause outrage: ‘Beyond inappropriate’ https://www.independent.co.uk/life-style/health-and-families/std-awareness-month-sexually-transmitted-diseases-toys-sold-us-children-education-a8289961.html
Other noteworthy toy news for 2024:
- The Toy Association's Q2 2024 Report: This report showed continued signs of industry recovery, with a slight increase in year-to-date sales compared to the previous year.
- Ongoing Supply Chain Issues: While showing signs of improvement, supply chain disruptions continued to impact the toy industry, causing delays and potential shortages for certain products.
- Growing Popularity of Kidult Toys: The trend of adults buying toys for themselves ("kidults") continued to gain momentum, contributing to overall industry growth.
- This is a positive sign amidst a challenging economic climate. The fact that adults are, once again, increasingly buying toys for themselves indicates a potential new growth market for the industry. Companies can become more aggressive in creating products that appeal to both children and adults, such as collectibles, nostalgia-themed toys, and high-quality playsets. It's exciting to see more adults embracing their playful side! This trend could lead to more diverse and sophisticated toy offerings, and it's great to see the toy industry adapting to changing consumer demographics.
- Issues:
- Market Saturation and Competition: As more companies target the adult demographic, the market could become saturated. This could lead to increased competition and pressure on companies to differentiate their products. The focus on nostalgia and collectibles may limit the appeal to certain segments, potentially excluding other adult consumers.
- Perception and Social Acceptance: Despite growing acceptance, there may still be societal perceptions that toys are primarily for children. This could affect how some adults view their purchases and influence their buying behavior. Companies need to continue efforts to destigmatize adult play and highlight the benefits of toys for adults, such as stress relief and mental health benefits.
- Product Development and Innovation: The shift towards adult consumers necessitates a different approach to product development. Companies must balance creating products that appeal to both children and adults, which may require significant investment in research and development. The focus on high-quality, nostalgia-themed, and collectible items may require different marketing strategies and distribution channels
Here are some of the most popular toys among adults today:
Collectibles: Items such as trading cards, action figures, and diecast vehicles are highly sought after. Notable brands include Barbie and Hot Wheels, which have seen a resurgence in interest among adult collectors.
Lego Sets: Lego has successfully tapped into the adult market, with a significant portion of its sales now coming from adult consumers. The therapeutic aspect of building sets appeals to many, making them a popular choice for relaxation and creativity.
Board Games: Board games remain a favorite, with many adults purchasing them for social gatherings or personal enjoyment. This category has seen renewed interest as adults seek ways to connect and have fun together.
Squishmallows: These plush toys have gained immense popularity among adults, often purchased for their nostalgic appeal and comfort. Many adults find joy in collecting these soft toys, contributing to a growing market.
Fidget Toys: Items designed for stress relief, such as fidget cubes and infinity cubes, are increasingly popular among adults. These toys help with focus and anxiety relief, making them appealing for use in both work and home environments
