Toy Fair 2023 — Q4 Toy Trends Update (Full Presentation) — The Toy Association

[00:00:00] Speaker 1: Hey, good afternoon, everybody, and welcome to the TOY Trends Presentation. I don't know about you all, but I'm so happy to be back up here with all of you at the Javits Center for four days, and that is going to be so much fun. The Trends team today has kind of gone over a bunch of different trends you'll be seeing on the show floor, and we have some research that we're going to be unveiling during the Trends Presentation as well. So we surveyed 1,000 parents across the United States to get insights on their holiday shopping. So these are not only trends that we see, meeting with hundreds of companies throughout the year, previewing thousands of products, we actually have some real consumer insights that we will be sharing with you today for the first time. And these are a lot of toys that are going to be hot for the holiday, and there are some sneak peeks here that are 2024 products, so you're lucky to get to see them. And I'm going to pass it off to Kristin now. [00:00:59] Kristin: So we are looking at the 23 holiday shopping and consumer insights first. So in an uncertain economy, budgets are obviously tightening, parents are being forced to make some tough decisions about how they want to spend their money this holiday season. We do often say that toys are recession proof, meaning that they are usually the last thing that parents are going to cut back on for their kids over the holidays, you know, they want to make sure that there's something under the tree for their kids at Christmas or for Hanukkah, but they are going to be smart about how they're spending their money. So our survey found that a third of parents are planning to buy fewer toys this holiday season and they will also spend less overall compared to previous years. So obviously, this is a sign of the economic times that we're living through. However, 25% will buy the same number of toys and look to spend less. 25% and 22% said that they will buy fewer toys, but they do plan to spend the same amount as last year if these toys are high quality and engaging. So between those last two figures of 25% and 22%, you've got a set of parents who are looking for deals and a set of parents who are seeking out more big ticket or high quality items with greater play value that will offer more bang for their buck. So working within budgets in a smart way and seeking out really good value are the real shopping trends of this holiday season. So of course, the most on trend, innovative and hottest toys are going to be driving kids' asks for the holidays, as will parents' desires to bond with their children. 64% of the parents we surveyed said that they plan to purchase toys that they can play with together as a family, including 72% of moms. Toys that promote wellness and emotional well-being will be popular among 54% of parents. Outdoor and active and sporting toys will be sought out by 51% of the parents that we surveyed. So these and many other toy categories from arts and crafts to games really encourage families to step away from their screens and their devices and make memories together. So now we're going to actually look at some of the hottest trends for the holidays that are here at Toy Fair and on shelves right now, as well as a sneak peek at some toys and trends that we expect to be hot into the new year. So our first trend is cool to be a kid alt. So we have been talking about the kid alt consumer for a few years now, and the numbers really prove that this is not a fleeting trend. Just walking the show floor here at Toy Fair, you've probably come across a number of toys, games and collectibles that will appeal to the adult consumer, as well as entire lines targeting tweens and teens, and even some games and puzzles that were created with grandparents and older adults in mind. Our survey found that actually 89% of parents will be toy shopping for grown-ups this holiday season, especially for their spouse or significant other at 43%, 32% for friends, 26% for adult siblings, and 43% of parents said that they are going to buy toys for themselves this holiday. This number goes up when looking at dads and millennial parents specifically. More than half of the men surveyed at 53% said that they will buy themselves toys, as well as 48% of parents under the age of 40. And holidays aside, 41% of parents said that they have bought toys for themselves over the past 12 months, purchasing an average of 13. So what all of this data indicates is that the spending power of the kiddle is growing and is giving way to new opportunities on either end of the kiddle spectrum. So 79% of parents agree that there is less of a stigma today around tweens and teens playing with toys past a certain age. And 20% said that they will buy toys for the older adults in their lives, you know, like grandparents. So we all know the developmental, cognitive, social, and many other benefits of play for children, but now consumers are really starting to understand that these benefits can extend to older adults as well. So looking at some product that fall under this trend, we've got Nightball Pickleball from Tangle Creations. So Tangle is known for their light up sports toys for all ages. New for next year, they're going to be bringing their glow technology to Pickleball, which happens to be the fastest growing sport in America. This set is going to come up, come with a super bright neon ball and motion activated light up paddles. Next, we have the Morbid the Lunar Dial game from Goliath. So this is a kiddle game that will appeal to crime podcast listeners. It's a strategy game that was developed in partnership with the leading crime podcast, Morbid, whose hosts are also known to lean into astrology themes. It's an easy to learn, lightweight strategy game, perfect for anyone who's fascinated by astrology, the stars, and mystical arts. Then we've got Tamagotchi Uni from Bandai. So it's the newest generation of your favorite interactive virtual pet. Now it's in a wearable format. So now kids can actually wear their Tamagotchi on their wrists. It's been updated with new colorful graphics and kids can now interact in the Tamaverse with one another, which is like the metaverse for the Tamagotchi world. And this was launched in partnership with Charli D'Amelio, leading TikTok influencer. So just further driving that appeal to those tween and teen audiences. Then we have Bitsy from Spin Master. So this is another digital pet, but this one you can actually touch and feel. So it's super innovative. Bitsy will respond to your swipes, tilts, shakes when you touch. Bitsy will respond with sounds and reactions. Each pet starts as a baby. You have to nurture your Bitsy in order for Bitsy to grow. And you can actually collect 15 pets within this one device. And what I love about this one too, it's electronic, but it's also a great fidget toy. Then we've got Groovy the Glow Man from Schilling. So this is also tapping into that appeal of fidget toys and collectibles driven by social media. So you've got this soothing sensory sensation. It is a great sensory toy. It also has an auditory response. There's a crunchy feeling. So it kind of gives you that feeling of like walking, you know, on hard snow, that crunchy snow in the winter. Groovy also glows, makes an awesome stocking stuffer. Then the Game of Life Generations from Ageless Innovation is part of the Joy for All game line that was developed in partnership with Hasbro. So what they're doing is they're updating these classic games with larger fonts and trivia that will appeal to older generations. So this is a newly imagined version of the Game of Life. It features the greatest generation, baby boomers, Gen X, millennials, Gen Z. All the generations can play together. It's infused with all these cultural and humorous references for each generation. Then we've got Brain Bolt. This is new for 24. So Educational Insights is updating its popular handheld electronic memory game. It's already developed across generational following. But for next year, the company is launching a version that has larger overall features, larger buttons, just making it easier for older fans to play. Then we've got That Escalated Quickly from Exploding Kittens. This is another 24 game that will be coming out early next year. It's a cooperative card game. It's a party game where players are working together to sort a bunch of nonsense by putting absurd things in the correct order. And you score points by thinking like your teammates and ordering the cards in the right way. And it includes 300 prompts. So the next trend we're looking at is conscientious consumers. This holiday season key themes that will have an impact on toy purchasing decisions include sustainability, diversity, and representation. Our survey found that 31% of parents want to be sure that the company they're buying from has core values that really align with their own. And dads are even more likely to look for this, with 38% seeking out companies with like-minded values. So while children will often seek out toys that reflect their own identities, parents recognize the importance of fostering diversity and inclusivity within their children's toy boxes. So nearly a third of parents have already purchased toys designed to teach their kids about diversity, equity, and inclusion. And then looking at sustainability, 45% of parents under the age of 40 are prioritizing the environmental impact of toys when making buying decisions. So in response to these evolving preferences, we really expect to see more toys that not only prioritize these social issues, but do so in authentic ways through strategic partnerships and the adoption of innovative techniques and technologies and research to really ensure that diverse backgrounds and cultures are thoughtfully and realistically represented in dolls and other toys. So the first product we're looking at here is the Green Garden Mini Greenhouse from Buzzy. This is a great play set that teaches kids about gardening. And what's fun about this, this is like a two-in-one toy where you can play with the included toy pieces or you can use it to grow real plants. There's actually an opening at the bottom of the greenhouse that lets extra water drain away from the toy and it's made of all recycled plastics. The Potion Play Kits from Little Large, they spark mindful water play with themes that encourage self-love for children. So this is the Love Spell Potion right here. So all you do is you pour a few spoonfuls in a large bowl, you add water, and then it will, your potion will bubble and sparkle. So this is a great creative open-ended toy for kids. These are all handcrafted in Canada using plant-based dyes and the potions contain bio glitter. So it's a plant-based biodegradable glitter and the company will plant a tree for every product sold. So the National Park line from Melissa and Doug is a new collection of nature-inspired toys in partnership with the National Park Foundation. So shown here is the Yellowstone National Park Grizzly Bear Games play set allowing kids to discover the wonder of Yellowstone and learn all about grizzly bears. So there's information within the toy that teaches kids about grizzly bears and what they like to eat and then they can role play using the paws and snouts and the two plush grizzly heads to catch food and pretend they're hungry bears looking for a meal. Melissa and Doug has also pledged a million dollars as part of its multi-year partnership to help protect and preserve national parks for future generations. Then we have Baby Fuerte from Tomi International. So it's a new infant toy line that was created and designed by Robin Arzon, who's a well-known Peloton instructor. She's a New York Times best-selling children's author. She has created seven signature products in the launch of this line. They're all made with these fresh colorful palettes inspired by her Cuban Puerto Rican roots and her heritage. Some of the toys even feature Spanish words and phrases and it comes in bilingual packaging. And then finally we've got Dana's Icon Salon play set from Purpose Toys. This play set is really central to the brand storytelling for Naturalistas. This was created by a black owned company. For those of you who aren't familiar, Naturalistas is a line of contemporary natural hair fashion dolls that were created to uplift children and teach them, you know, to be confident and embrace their natural hair. So Dana is actually a natural, a celebrity natural hair stylist and the set comes with everything needed to wash, dry and style hair and really encourage kids to embrace their own natural hair. And that is it for conscientious consumers. So I'm going to pass it over to Jen, who's going to talk about our next trend. [00:14:43] Speaker 3: So the next trend I'm going to be talking about is playing it smart. And no matter what season it is, parents, today's parents, are focused on their kids' learning and development. And they also know and recognize that more than ever play is a crucial tool to aid in that development. That's why 81% of parents this holiday season are very or extremely likely to make sure they buy at least one toy with educational value. And 65% will consider how that toy that they choose helps to build a skill set, particularly when it comes to boosting skills like a child's understanding of STEAM concepts and even basic life skills like cooking or cleaning up after themselves. Another factor they're considering more than ever is how toys aid both mind and body. Just over half of parents are looking at whether a toy promotes wellness when shopping for their kids, along with promoting other things such as kindness and anti-bullying and regulating their emotions, with parents under 40 prioritizing these issues even more. So let's take a look at a couple examples, starting with NUGLUG. So this is an educational company that is grounded in a screen-free philosophy. The NUGLUG is a portable education system and it features this really cool modular design that allows for interchangeable activities that are going to be able to accommodate a range of ages as well as kids' interests. It includes a whiteboard for drawing and gameplay, alphabet tiles that actually feature illustrations designed by kids themselves, and tons more. As a parent, I love the portability of this set, but also because it offers such a great fully-packed alternative to turning to devices, especially when you're out and about at a restaurant or you're traveling with your kids. This next one is really great steam toy. This is Yeti Yikes Ski Mountain. This is from Squirgles. So Squirgles is a magnetic building system that allows kids to create their own play sets and then play on them. The system goes beyond the traditional build and knock down play for magnetic sets through a customizable tiles that allow kids to draw on the inserts. And then it also features a fun Yeti character that can double as a marble that's going to slide down the mega slide that slope that kids can create. So Fun in Motion is probably best known for its steam fidget toys like Shoshibo, but now the company has Hyper Tiles. This toy was designed by a former educator, so you know it's got that educational value thought of, and it features uniquely shaped pieces that can move and flex once the Hyper Tiles are assembled together. It puts a very unique and different and innovative take on traditional construction play. This next set is a VR headset and what's interesting about it is typically when we think VR we think gaming and we don't necessarily associate it with educational play, but that's all Abacus Brands is about. Kids can use this included VR headsets to engage with Penn and Teller in magic tricks. They're going to learn from Penn and Teller directly how to perform 28 tricks. It features video step-by-step visuals, which is great for visual learners, and it also is grounded in science. The magic itself is grounded in science. So as kids are learning these tricks, they're also learning different scientific concepts and critical thinking skills. This next toy is all about aiding kids' ability to nurture and show empathy. So Cry Babies is a line from IMC toys that is known for the popular nurturing play patterns it has. And this new Cry Babies newborn is a totally innovative take on that. Not only are kids able to care for it in the traditional fashion with the accessories that are included, but it comes with an interactive bracelet that kids can wear and the doll will recognize the child as the parent helping to calm their baby down when it's crying, make her laugh, blush, etc. And this is Tinker Tar. This is from Buffalo Games and it really highlights the idea that art education and music education are just as important as skills like math and reading. It features an innovative one-string design and fingerboard that make it super easy for kids as young as three to learn to play guitar. It was designed by Brian Calhoun, who's best known as a guitar maker for artists ranging from Dave Matthews to Harry Styles, who wanted to simplify the learning process for kids and make it less frustrating. Multiple strings are just too complicated for kids and even grown-ups who've tried to play guitar for the first time. So but with Tinker Tar, three-year-olds can learn to play actual songs and kids as young as five can learn to sight-read music and make it a really enjoyable learning experience through music play. And this next one is another 2024 sneak peek item. This highlights the continued focus on social emotional learning and mesh learning. Learning Resources is expanding its line of sensory toys that help kids regulate their emotions for 2024. So this is the cool down sensory cubes are based on calm down corners that are typically found in schools and some people have even them inside their homes. They're typically filled with quiet activities, plush seating, blankets, fidget toys, and the cool down cubes feature four different sensory cubes in the line that kind of mimic some of those experiences. So there's a puzzle, slow rise foam, three level spinning pieces to make a different facial expression. So helping kids learn about the different emotions and a mindful maze. It also comes in a really cute little ice cube tray just for that added cute factor. And we can't talk about toys without talking about pop culture. So toys have had an enduring impact on pop culture and vice versa. It's bridging generations and evoking feelings of nostalgia. Against the backdrop of a banner year for a blockbuster toy related movies like The Little Mermaid, Teenage Mutant Ninja Turtles and of course Barbie, 38% of parents expressed an interest in buying toys inspired by both movies and popular entertainment franchises. And as the world of fashion, we're also seeing a revival and a reinterpretation of toys from the 1990s and Y2K era specifically as they gain traction amongst a new generation. In fact, nostalgia is an increasingly significant driver in the resurgence and expansion of specific toy categories and brands, with 39% of parents now saying they were likely to buy toys they played with with their own children in their own childhood. In addition, 26% of parents reported they're likely to buy toys based on gaming or anime content. Now, while this figure might not seem like a lot right now, as we've seen gaming and anime franchises move from the fringe to the mainstream, we expect this space, anime in particular, to be a must-watch area as we move further into 2024. So let's take a look at a couple examples, starting with Bluey. So this is Bluey's Hammer Barn from Moose Toys, and it's obviously based on the popular TV show and the corresponding episode Hammer Barn. This is a set that's going to definitely be enjoyed by both parents and kids alike because the show has developed such a large co-viewing audience. Expect to see a lot more amazing toys around this property in 2024. And then another iconic nostalgic property is, of course, Elmo Sesame Street, and this is Elmo Slide. It's an interactive plush toy from Just Play, and little ones can dance, sing, and play along with Elmo in both English and Spanish. But what makes it so fun and engaging is that it brings to life the super popular and viral dance routine from the show and gets kids as well as their parents up and moving. And speaking as a parent of a toddler, I've spent plenty of time dancing to this song in my living room, as I'm sure others have, and I'm excited to have a toy that my daughter can now dance along with. And of course, we can't talk pop culture this year without talking about the power of Barbie and the Barbie mania around the film. As the film now moves to streaming services and Blu-ray, we expect to see fans continuing to engage with the brand. This is the all-new light, bright, super bright, HD Barbie edition from Basic Fun. It's going to be launching next year. It's designed for ages six plus, but it's one that we think is going to have adult fans as well, adding to their rooms for some hot pink room decor. And next year, Hello Kitty is a brand that's going to be celebrating its 50th anniversary. And Jazwares is one of the main toy licensees for the brand that's going to be bringing the brand to life for fans and celebration. Now on the table over here, but not shown on the screen, is one example of that. It's an example of the first product, one of the first products in the line from Jazwares. And it's something Jazwares is probably best known for. It's a plush Hello Kitty. And this is one brand that we think is one to watch for cross-generational and kawaii appeal. Now, as I mentioned earlier, anime is growing in popularity in part because of the partnerships bringing the content to streaming, such as Crunchyroll's partnership with Max. And Netflix is definitely also leaning in heavily. This is the jujitsu kaizen mystery capsules from Yumi. It features eight characters featuring iconic scenes from the show, and it's got this really cool stained glass display. All characters come together and you can actually connect them. So create your own really cool jujitsu kaizen display. Another thing we're seeing and expect to see more of in 2024 is an even greater demand for spooky themed content and toys to support it. This year, Hocus Pocus is celebrating its 30th anniversary with a re-release to theaters. And kind of proving the power of the property, Disney+ launched the sequel last year. And this set from Lego comes directly from fans' requests. It captures the movie Sanderson sisters' cottage. And of course, it's got some really great features like the book of spells, the witch's bat-infested bedroom, and tons more. And another property you're going to want to pay attention to in 2024 is Wednesday. It launched on Netflix last year and has continued to amass a huge following on social media. We expect much more in the vein of the Stranger Things popularity kind of translating to the toy aisles, when Wednesday season two likely hits next fall. Toys and other toy adjacent products based on the brand will be in high demand. With the power of your smartphone and some green screen technology, fans in 2024 will be able to create their own creepy things shorts and videos using this amazing interactive hand from WowStuff. And then kind of highlighting again that spooky appeal to brands and how Halloween has kind of almost become a holiday that we celebrate year-round as opposed to just Halloween itself. This is the Pokémon trading card game trick-or-treat booster bundle. And with this, kids of all ages can kind of collect, share in the fun, and you can also add it to your trick-or-treat baskets this holiday season. And with that, that ends the Toy Association's Toy Trends Briefing for Toy Fair. If you are looking for more information, we encourage you to come up, spend some time with the toys. Our team will also be around to take any questions. And if you're looking for more information, head over to toyassociation.org/trends. Thank you.