Celebrities made popular soft toy trend, is it a lasting business? What is the next trends after Bearbricks and Popmart toys? How does this players gains?
The designer toy market has experienced significant growth, propelled by celebrity endorsements and evolving consumer preferences. For instance, Labubu, a character from Pop Mart's "The Monsters" series, saw a surge in popularity after being featured by Blackpink's Lisa, leading to a 400% price increase.
Sustainability of the Trend
The longevity of such trends depends on factors like continuous innovation, emotional resonance, and adaptability to consumer interests. While specific characters may experience fluctuating popularity, the broader market for designer toys remains robust. The global art toy market is projected to grow from $20.9 billion in 2023 to $62.1 billion by 2030, indicating sustained interest.
Emerging Trends
Post Bearbricks and Pop Mart toys, several trends are shaping the market:
Sustainable Materials: Consumers are increasingly favoring eco-friendly products, prompting manufacturers to use sustainable materials in plush toys.
Personalization: There's a growing demand for custom plush toys that offer unique, sentimental value, appealing to both gift-givers and collectors.
Adult Collectors ("Kidults"): Adults are becoming a significant market segment, with products designed to evoke nostalgia and serve as collectible art pieces.
Business Opportunities
To capitalize on these trends:
Collaborations with Artists and Influencers: Partnering with creatives can infuse fresh perspectives into designs and expand reach.
Limited Edition Releases: Creating scarcity through limited runs can enhance desirability among collectors.
Diversification: Expanding product lines to include various materials and functionalities can cater to diverse consumer preferences.
By focusing on innovation, sustainability, and strategic partnerships, businesses can navigate the evolving landscape of the designer toy market effectively.