The American Toy Association recently released data showing that in the first three quarters of this year, toy sales in 12 global regional markets increased by 2% year on year, reaching 36.7 billion dollars; Compared with the US $28.3 billion in the same period of 2019 before the epidemic, it increased by 30%. In terms of categories, 6 categories achieved year-on-year growth. Among them, the growth rate of plush toys was the largest, reaching 32%. The traditional category of plush toys has turned red in recent years. What are the new highlights?

Plush toys continue to lead the way, with double-digit growth for two consecutive years

According to the data released by the American Toy Association this time, in the 12 regional markets tracked, toy sales revenue of 7 countries increased, including Brazil's toy sales revenue increased by 23% year on year, and Mexico's toy sales revenue increased by 13%. Spain, Canada, the United States, Italy and Australia all saw small increases.

By category, 6 of the 11 toy categories monitored this time increased. Among them, plush toys led the way with the highest growth rate of 32%. Followed by movable dolls and related accessories (12%), exploration and other toys (10%), and building blocks (5%). Further subdivided, the top three categories with the fastest growth are non strategic cards and stickers, traditional plush, movable dolls and collectible dolls, which are mainly driven by children and adult collectible players.

As the Christmas and New Year sales season approaches, plush toys as holiday gifts are expected to continue to sell well. Looking back on the past data, we can also find that the plush toy category has achieved a very impressive performance in 2021, with a 30% growth in sales. Behind the rapid growth for two consecutive years, new brands, new products and new play methods of plush toys are constantly emerging.

New features of plush toys: IP, intelligent interaction, and fashionable life

With the continuous development and change of the consumer market, the plush toys, which were originally targeted at children, have expanded their audience due to their soft and comfortable touch, personified image, diversified interactive play methods and characteristics suitable for sharing through social media. More and more new products with stronger IP attributes, richer interactivity and more diversified functions have emerged, making this traditional category glow with new vitality.

▋ Plush toys are IP based, giving products more emotional value

From the perspective of the hot selling products in the market, strengthening the IP attribute and endowing the product with character characteristics and storytelling has become the mainstream of the development of plush toys. On the one hand, plush toy brands rely on well-known IPs to develop and sell various IP derivatives; on the other hand, they are also creating their own characters and IPs to interact with fans through social platforms, giving plush toys more emotional value.

Take Squishmallows, which has become popular in the US market in recent two years, for example. So far, the brand has released more than 1000 characters. Jazwares, the operating company of Squishmallows brand, has created an independent online community for each character. Each character has been endowed with personality because of its unique name and story, and has a deeper emotional link with players.

In addition to the "addictive" collectability settings, cute appearance and soft feel, Squishmallows' popularity in the United States also depends on the viral marketing of social media. For example, a fluffy treasure hunt for Squishmallows was launched on TikTok, and related videos were played more than 6 billion times. Undoubtedly, the IPlization of plush toys has promoted it to obtain good market response, and the product popularity has been rising. It has won the TOTY2022 Best Toy Award, the Popular Choice Toy Award, and the Best Plush Toy Award at one fell swoop.

It is understood that Squishmallows now has a complete IP authorization plan, and has launched clothing, bedding, swimming pool floats and more products. After becoming popular, Squishmallows also continued to co brand with some big IPs, such as the launch of Star Wars and Baokemeng series products, which boosted sales while maintaining popularity.

In addition to Squishmallows, Ty, jELLYCAT and other well-known brands are also strengthening the IPlization of their plush toy products.

Ty's newly released 2023 new product series of sweet sauce - colored rabbit and small cloth, each product has a red love tag, on which the name and birthday of the product are marked, giving a humanized feature.

jELLYCAT launched a series of plush toys covering all aspects of daily life. In addition to the common animal series, there are also plant series, daily necessities series, food series, flower potted series, etc. The products are distributed from teddy bears to marine creatures, and each plush toy has been given applicable scenes, such as bedtime companion, work partner, travel friend, etc.

With a wealth of roles and scenarios, jELLYCAT has gained high number of questions and attention in domestic and foreign markets. On the Tiktok platform alone, the number of topics with jELLYCAT has reached 2876.3W. At the same time, its market popularity and sales volume at home and abroad are also in the forefront all the year round. Take its evergreen tree series Bonnie as an example. From its launch to the present, this product has achieved outstanding sales performance for jELLYCAT every year on the Amazon e-commerce platform.

Vegetable toy series, lively eggplant

▋ The intelligent interaction is improved and the function design is more powerful

As consumers' interactive demand for plush toys continues to rise, brand manufacturers are constantly improving in the intelligent aspect of plush toys. The acousto-optic integrated intelligent plush toys based on interactive functions have become a major direction of brand innovation by breaking through the past playing methods to better promote children's observation and operation abilities, and enhance children's understanding, learning ability and innovative thinking. Many interactive plush toys have become the most popular toys in the past two years.

The FURFLUFFS surprise fluffy pet produced by Spin Master has attracted much attention recently, appearing in the list of Christmas toys released by multiple channels, and was also selected as the "2023 Trend Product" in the "Trend Product Display and Release" activity held by the China Association of Play. This product can not only realize more than 100 kinds of sounds and interactive reactions, but also support the functions of touching, rolling, shaking and reversing. It is very interesting.

Magic Mixies Rainbow Crystal Ball is also a "net red" product in European and American markets. The plush pet included in this product has four interactive playing methods: divination mode, casting mode, game mode and cultivation mode, which fully demonstrates the acousto-optic integration characteristics of plush toys. In divination mode, children can answer yes or no questions with forehead light; The casting mode allows you to say the spells in it. Interactive wands, crystal balls and plush pets have more than 80 kinds of lights, sounds and interactive responses.

Magic Mixies彩虹水晶球

Baby GUND's Flora the Bunny plush toy is a cute rabbit that can sing. It has two different game modes and is designed for entertaining babies. Press Flora's left foot to let her participate in the hide and seek interactive game. Flora will hide behind her soft, oversized ear. Press her right foot, sing along with a new witty song with a lovely child voice, and her ears will beat with the rhythm. Flora also features enhanced audio and volume control for more personalized gaming sessions.

Little Live Pets Mum's Surprise Guinea Pig Toy has more than 20 sounds and reactions. It can simulate the life and production process of pet care, feeding, hair combing, pet production and other operations to enhance interaction and enhance product interest.

Little Live Pets Mum Surprises Guinea Pig Toys

▋ Expansion of categories into the field of pan fashionable consumer goods

In addition to focusing on the innovation of traditional plush toys, many brands are also actively breaking the restrictions on the single play function of plush toys, expanding the plush products, improving the practicality, and expanding from toy categories to the field of fashionable life.

Backpack is an important direction for expanding the category of plush toys. Moulin Roty, a French toy brand, has launched a plush doll backpack with more home life attributes, and many styles have won the love and pursuit of many consumers.

Moulin Roty Plush Doll Backpack

Japanese plush toy brand LIV HEART has continuously expanded the functional attributes of plush toys through its six product series, 20 subcategories and 800 sku. For example, pillow, cushion, hand doll, travel doll, etc. In addition, it also launched memu memu animal pen container, ice multipurpose neck pillow, etc. on the official website, further enriching the function and practicability of plush toys.

Memu memu animal pen holder

Conclusion:

At present, the classic category of plush toys presents new development characteristics different from those in the past. With the continuous upgrading and innovation of brand manufacturers in product functions, performance, materials, play methods and other aspects, the plush toy market is expected to continue to maintain a strong momentum and open new incremental markets.