The UK toy industry has experienced a resurgence, with sales rising for the first time in five years, driven by the growing “kidult” market – adult consumers influenced by social media trends. According to research by Circana, the value of toy sales rose by 6% last year compared to 2021, bringing much-needed optimism to a sector that has struggled since the pandemic.
The rebound has been fuelled by a range of factors, including the continued popularity of franchises like Minecraft, Formula 1, and K-Pop-inspired collectibles. Lego building sets have also appealed to adult consumers, while social media trends have led to a 12% growth in collectibles across generations.
Melissa Symonds, executive director of UK toys at Circana, described 2022 as a “clear turning point” for the industry, with the exclusion of the pandemic’s unusual circumstances, marking the first organic growth since 2016. Kidults, defined as players over the age of 12, now account for 30% of the toy market, up from 17% in 2016.
However, the industry is closely monitoring the potential impact of social media bans for under-16s, as seen in Australia, and the possibility of similar restrictions being introduced in the UK. Manufacturers and retailers may need to reconsider how some toys are marketed if such bans become more widespread.
Kerri Atherton, from the British Toy and Hobby Association, which is hosting its annual trade fair at London’s Olympia, said it was still too early to know the full extent of the fallout. She described 2023 as a pivotal moment for the UK toy sector, but acknowledged that businesses and consumers still face financial challenges going into the new year.
Despite the cost-of-living pressures that have loomed over families in recent years, spending on children, particularly during the Christmas period, has remained a priority for many. The COVID-19 lockdowns also provided a boost to the toy sector, as toys and games became central to keeping both children and adults entertained at home.
As the industry navigates the evolving landscape, manufacturers and retailers will need to adapt to the changing consumer preferences and the potential regulatory changes that may impact the way they market their products. The resilience and adaptability of the UK toy sector will be crucial in ensuring its continued success in the years to come.
