Jay Glatfelter spends about $4,800 a year on toys: $2,400 for himself and another $2,400 on birthday and Christmas gifts for his two sons, ages 6 and 10.
A 39-year-old tech salesperson who moonlights as a toy influencer Geek.Dad.Lifeare part of a burgeoning group of adults spending big bucks to collect action figures, trading cards and Lego sets that evoke their youth in the 1980s and 1990s.
Their love for Star Wars, Marvel, Ghostbusters, Teenage Ninja Mutant Turtles and more has been a silver lining in a bleak outlook for the toy industry.
According to data from Circana, toy sales from January to April totaled $1.5 billion, with demand for toys from preschoolers surpassing that of toy lovers aged 18 and over for the first time.
““The reality is that most kids today aren’t interested in physical toys like previous generations were,” toy influencer Dan Larson told The Washington Post, explaining that he is a “huge GI Joe fan.”
Circana, which tracks consumer trends, described those 18 and over as “the most important age group for the toy industry,” pointing to a recent survey that found 43% of adults bought a toy for themselves in the past year.
The toy industry is struggling to recover from a slump after a sharp boom during the pandemic when families stayed home and stocked up on Barbie dolls, Hot Wheels and board games.
U.S. toy sales fell 8% last year to $28 billion after rising 1% the year before, according to data from Circana.
This comes after historic surges in 2020 and 2021, when industry-wide revenues soared 17% and 16%, respectively.
This year’s numbers still look weak: Toy sales were down 1% year-over-year through April, while unit sales were down 2%, according to Circana.
It’s no wonder toy makers like Mattel, Hasbro and Lego are courting consumers of drinking age.
“LEGO has a staff member in charge of outreach to AFOLs. [or adult fans of Lego]”You have people buying the $200 sets,” explains Toy Insider editor James Zahn.
Well, Lego sells. The adult sets are much more expensiveThis includes the Titanic set, which will sell for $679.99, and the Star Wars Millennium Falcon, which will sell for $849.99.
Another key trend is adults buying collectible stuffed animals reminiscent of the Beanie Babies and Cabbage Patch dolls that sparked the craze of the 1980s and 1990s.
Squishmallows, the 8-inch Humpty Dumpty-like creatures with a variety of faces including cat, panda, clown and banana, were the top-selling toy in the first quarter, thanks in large part to adult collectors, Zahn said.
But most sex-toy buyers tend to be men, like Larson and Glatfelter, who are interested in action figures, trading cards and model sets, experts say.
““The fan base is more male and more millennial and Gen X,” said Glatfelter, who believes the trend is an evolution from previous generations who collected trinkets.
“This is a modern take on the time when our grandparents collected Hummel dolls,” he explained.
Some collectors are sensitive about being called “kidults.” Inspired by this issue, Larson wrote a YouTube channel called “Secret Galaxy” in which she said, “Action figure collecting is an embarrassing hobby.”
The answer, he concluded, is yes and no.
The “societal perception” that all toys are made for children contributes to the embarrassment, Larson said, but at the same time, companies are making so many toys for adults that collecting toys has “become more acceptable,” she said.
“If a little plastic doll brightens up your world just a little bit, don’t let anyone take that away from you,” Larson said on the show.
Collecting is an expensive hobby, with the average collector spending $300 to $400 a month, Larson said. He displays some of his collection on the walls of the home he shares with his wife. Other items are stored in closets, the basement and various boxes.
Toy industry executives welcome childish adults into the toy box, but insist that kids always take center stage in the toy aisle.
The first quarter is typically the slowest time of the year for the industry, suggesting that adults’ purchasing power stood out as families over-bought for the holidays and therefore less for children, Toy Association president Greg Ahern told The Post.
““Kids will always be the primary consumers,” Ahern argues, “but we’re seeing the adult market gain strength and reach a tipping point.”
