Technology becomes an even bigger part of the toy market

posted in: Blog, News, Plush toys, Stuffed toys | 0

Technology becomes an even bigger part of the toy marketTechnology becomes a main part of the toy market. Also, Barbie is loosing ground to Star Wars and other Marvel heroes. Disney helps Hasbro gain on Mattel.

The latest data from the toy companies and the NPD Group show interesting tidbits. For example, Hasbro has overtaken Mattel’s sales for the first time in the first-quarter sales of this year, ABS-CBN News reports.

Also, Hasbro has passed $5 billion in annual revenue for 2016. This is also a first time achievement for Hasbro.

The main reason for this? Disney. Last year Disney moved pretty much all of its franchises from Mattel to Hasbro. Hasbro also has a big presence in the Marvel universe with Spiderman, Thor, also Transformers and others. All of this has pretty much skyrocketed Hasbro’s growth.

Star Wars is growing fast, overgrowing Barbie. But while brand wars are always expected, there’s a bigger shift in the toy market – technology and gadgets. More and more toys incorporate some kind of tech like a connected app, wireless module, cameras, sensors, remote controls and others.

“Tech-oriented toys and unplugging are not mutually exclusive. Our mission is to deliver the world’s best play experiences, and that often involves both technology and untethered creative play”, Hasbro president John Frascotti said.

“Analog toys don’t have the same staying power as they once did,” said Morningstar analyst Jaime Katz. Moving across channels means “people can play with it in the way choose to.”

Still, this doesn’t mean that regular toys are giving up. They net an 18% jump for 2016. Sports and outdoor toys also net a 10% increase. Most parents still want to have classic play time with their kids. This is going to keep the classic toys going for a while.