Hasbro's new CEO played with G.I. Joe and Transformers as a child. Then he moved on to Dungeons & Dragons and Magic: The Gathering. He still plays both.
Not surprisingly, he thinks there is money to be made targeting adults.
According to NPD, people over 12 account for 23% of toy sales in Europe. (2020) While Mintel tells us that 38% of Americans have bought a child's toy for an adult. (2016)
I couldn't find specific data about Lego, but the proliferation of AFOL (Adult Fans of Lego) groups, the LEGO Masters tv show, and the $700+ price tags for branded sets, suggest targeting "stressed out adults" is working for them.
Crowdsourcing ideas for new Lego sets has led to the development of the Beatles Yellow Submarine, Central Perk from Friends, and Apollo 11 among others. It's easy to see the role that nostalgia is playing in these selections.
Research has shown that what you like to do in high school you will continue to like doing your entire life. So it makes sense for companies to observe and capitalize on these behaviors.
What childhood habits have you continued into adulthood? Hobbies, sports, foods, or something else? What companies have you observed taking advantage of this tendency? What companies might want to consider following suit?
(2020, Jan 17) The Guardian view on Lego for adults: play is a serious business. theguardian.com. Retrieved March 7, 2022, from, https://www.theguardian.com/commentisfree/2020/jan/17/the-guardian-view-on-lego-for-adults-play-is-a-serious-business
Macke, D. (2016, December 2) Not just child's play: Two in three U.S. toy shoppers agree toys and games are for adults, too. mintel.com. Retrieved March 7, 2022 from https://www.mintel.com/press-centre/leisure/not-just-childs-play-two-in-three-us-toy-shoppers-agree-toys-and-games-are-for-adults-too
5 comments:
Shohei Ishikawa
I followed a lot of childhood habits after I entered adulthood. One of the most games I play still is Yu-Gi-Oh. I do not play it all the time, but my friend and I sometimes gather and play Yu-Gi-Oh. I also play some video games series that I played when I was a child, such as Pokemon. The sport I still play from my childhood is Golf. There was a long blank between my childhood and when I started Golf again, but I still remember some of the skills that I learned from my childhood.
I have seen Pokemon card company is taking advantage of this trend. There are mainly two ways to make business and profit from the adult customer. While some adults simply enjoy Pokemon card games, others' purpose is different. They collect the cards and sell them to others. Their market is huge and highly profitable if they can get exclusive cards. These companies' smart strategy is creating a system that can attract both adults and children. They have to understand both child's perspectives and adults' perspectives to reach out to their customers.
For now, it is hard to come up with the companies that should follow suit because almost every company has already started this trend. For example, I remember that I played Wii Sports as a child. So I thought it would be a good idea for Nintendo to create a new sports game, but it will see the new sports game this April. However, in general, companies that struggle to expand their business for children should shift their focus to adults from children. There are many potential customers if their marketing strategy is sophisticated enough.
Funnily enough, my brother at 12 years old, got me the Friends Central Perk Lego set last year with the help of my parents. Although I am well past his age and I personally don't have the desire to build to Lego sets, I appreciated the gift immensely as I love the Friends show. It was a really cute set and thought that building the set could be something my brother and I do together.
After thinking about it for some time, I actually don't think I have specific childhood hobbies, foods, or sports that I followed and still regularly indulge in into my adulthood today. What I will say is that I still have a great affinity for the things I did growing up. Examples would be the old Ring Pop or Push Pop candies that I believe used to be around much more when I was younger. I remember always asking my parents if I could get one of those every time we went to a specific deli in Queens. Also, any time I see toys or other products that I have not seen in years or since my childhood, I immediately have to call whoever I'm with over and go "Oh my gosh, look! Look what it is!" Then, I am highly tempted to purchase it and sometimes actually do.
I feel that, today, more and more companies are tuning into the way nostalgia sells. Gen Z is also bringing back a lot of 90s and Y2K trends which is also why companies are staying attuned to the way our memories are a big part of our emotions, and thus, how they have a great deal to do with our purchasing decisions. Covergirl is a cosmetic company that, I believe, recently advertised one of their older, more traditional lip glosses that used to be a fan favorite back in the day. Traditional lip glosses are also making a comeback among other beauty companies as they are seeing how customers want to keep a piece of their most used lipgloss during childhood with them. Some other companies that can follow suit are those that carry hair accessories as those used to follow different trends, other chocolate and candy companies, and while this may sound like a reach, maybe even phone companies bringing back older models and marketing it towards younger people today.
- Nomi Q.
Some childhood habits that I have continued into adulthood are making art. It's something that has always been a part of my life. Another big thing is riding bikes, and finally, my love of graffiti. I notice there are a lot of companies making unique markers and paints specifically for graffiti. There are also tons of companies that make specialized stickers. I also see that people that are into this subculture are heavily into collecting things such are stickers, figurines, and apparel. Some such brands that have taken advantage of these trends are Claw & Co, Montana, Kaws just to name a few. I think companies like Rustoleum, and Krylon should dip their toe in the market. I also think lego would be a good candidate for reaching this market.
I did notice that a lot of men do keep up with their hobbies and games from their childhood, even memorabilia collections like Star Wars and Lord of the Rings; however, I don't think many of my female friends kept up with theirs. I certainly did not, I played hockey in high school, as a kid played with He-man and Shera figurines, none of which I kept up with. I did like hiking and I still do that, maybe I was a late bloomer, the habits I developed in my early 20's I did keep up with. I became a vegetarian, I cook a lot, I ran half marathons - well maybe I will run again in the near future.
Companies tap in to nostalgia with actors or music from the past- I saw recent commercials with Mr.T . What I do see are remakes of past movies , shows or songs, it was a hit 30 years ago lets remake it. Looking at super bowl ads this year I felt like the used a lot of nostalgic songs or characters to use that familiarity to sell their products. Personally that does not work on me.
Shohei made a good point about Pokemon, I remember my little brothers playing it as kids with the cards, the company then digitized it and made the fun game of catching Pokemon so that adults can partake in it. All of my brothers were playing the game up until recently, even a few co workers became obsessed with playing. It was a very ingenious way of tapping into nostalgia to build on the fan base.
I think that there is something so special about companies that can continue to let you feel the magic of moments of your childhood as an adult. For me, there are certainly habits that I have retained. A few of them being certain comfort foods I still enjoy eating such as mac n cheese or chicken tenders and watching movies from my childhood. While I certainly have many different habits now as an adult such going out late with friends, enjoying many more different types of foods, and focusing on work and school, I enjoy the comfort of those childhood activities.
A company that to me defines this idea is Disney. Disney influences people from a young age and inspires them with the magic of their theme parks, resorts, movies, music, etc. Disney knows how to keep customers as they grow up, having different offerings for different age groups such as faster amusement park rides and fine-dining restaurants for those who may not be little kids. Parents grew up with Mickey Mouse and other characters that make them laugh and smile, and dream about providing their kids with the same experiences, all while Disney keeps them interested just the same.
I think that companies that offer stereotypically child-based food options such as foods like chicken nuggets, fish sticks, and peanut butter & jelly could absolutely elevate those foods while keeping the nostalgic feeling so that people of all ages can enjoy. Many restaurants have done that with grilled cheese, adding things like bacon and caramelized onions. There is certainly room for companies to thrive thinking in this way.
Post a Comment