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The Hunt for the Season's Hottest Toy: What Drives the Must-Have Gift Craze
Every holiday season one toy rises to the top of every child’s wish list, becoming the coveted “it” gift that parents desperately search to find. This phenomenon is nothing new – in 1996 the Tickle Me Elmo doll created a frenzy, with people paying outrageous prices to get their hands on the popular plush. So how does a toy go from product to phenomenon?
According to toy trend experts, tapping into the current social mood is key. With so much negative news lately regarding wars, inflation, and more, people desire some lightheartedness. Successful toy brands like LEGO build playsets that tap into values like creativity and collaboration. New weighted plush brand Hugimals World consults child development experts to create toys that provide comfort and emotional enrichment.
Yet no matter how well a toy taps into the zeitgeist, brands must have ample supply to meet demand. Disney learned this lesson in 2019 when hot toy Baby Yoda sold out instantly, missing the holiday window and losing the company an estimated $3 million. While scarcity can boost a toy’s cachet, brands must have enough stock to profit.
Creating an “it” toy also requires seeing into the future. With 18-24 months typically needed from design to shelf, toymakers must predict what children will want years in advance while considering trends. Spin Master’s new digital pet Bitzee is this year’s buzzy toy, inviting nostalgia for millennials by replicating the beloved Tamagotchi pet from the 90s.
So while ever-shifting factors dictate what gift becomes the holiday sensation each year, one thing remains certain – children around the world eagerly await to see what toy tops their list.
