Q1 2023 is likely to be challenging but Toy World discovers that plenty of opportunities are there for the taking.
“I think Q1 2023 is going to be far harder to navigate than Q4 2022 for the general public, and for the industry – it will possibly be one of the toughest first quarters we will have ever seen,” notes Sara Taylor, MGA UK & Ireland’s managing director.
On a plus note, kids get money at Christmas – some of them a lot of it – and younger kids are very likely to spend that money on toys. Spending might be reduced, but it will be there, and retailers with fresh, new and exciting ranges lining their shelves will almost certainly be visited by kids wielding gifted Christmas money.
Based on the current climate, it’s reasonable to assume pocket-money toys and collectibles will be even more popular during the Q1 period and there’s plenty of toys that fit this particular bill; we look at those from Magicbox, Schleich and HGL (from One for Fun) plus new introductions from Brainstorm. We’ve also heard of a new addition to the YuMe Toys Mystery Capsule portfolio, distributed by KAP Toys.
Paul Reader, marketing director at the independent buying group Toymaster, highlights that licensed toys could also be high on kids’ post-Christmas wish lists. Paw Patrol will celebrate its 10th anniversary year, Bluey continues to benefit from an ever-expanding raft of toys, while Gabby’s Dollhouse continues to expand.
The upcoming Super Mario film is likely to result in soaring demand for licensed product, to the delight of Epoch Making Toys and Miraculous will also benefit from its own movie in spring 2023, albeit a TV one. The hit animated property continues to perform well across a range of territories, with Bandai, Sinco and Rubies all on board as licensees and all launching brand new lines for Q1.
Epoch’s Sylvanian Families brand will continue to expand the ever-popular Amusement Park range, and in January, Mattel’s Monster High franchise is back for a new generation, more than two decades after it first arrived on the scene.
Playmobil is keeping with the times by moving into the anime space as it welcomes Naruto Shippuden to its portfolio as well as a whole raft of other classic launches.
“None of us can really predict what is going to happen next week, never mind next quarter,” Sara Taylor adds. “But keeping laser focused on the data and responding appropriately to it will be key to creating sustainable sales early in 2023.”
Click here to read the full article in November’s issue of Toy World and find out more about the new ranges launching in early 2023.