Having a 6-year-old daughter brings many delights. It also makes you painfully aware of the term ‘pester power’. While the traditional toys such as Barbie and Action Man (albeit both updated for today’s audience) remain on the shelves and continue to enjoy high sales, the emergence of new brands such as Bratz, Moxies, and Ben 10 action figures have eaten into their market share. Coming up with a new star product takes investment into research and development and also means trying to either identify something new or rework an earlier successful toy and make it relevant for today’s market.
The toy market is huge. Even with slowing economic growth the UK public spent £15.1 billion on Christmas gifts in 2011, with the toy sector accounting for a large percentage of that. Coming up with a new craze or ‘must have’ toy is potentially hugely profitable and while many of the fads have their roots in traditional games, the success of Moshi Monsters is simply incredible.
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