Screen curbs open new growth avenue for toy industry, says Mui

As governments across the globe tighten regulations on children's social media usage, the toy industry is poised to capitalize on a new avenue of consumer spending, according to Johnny Mui, the acting co-chief executive officer of Toys R Us Asia. This shift is driven by families seeking alternatives to increasingly screen-focused lifestyles, as highlighted by concerns over screen addiction, online safety, and youth mental health.

Mui notes that the trend transcends mere changes in children's entertainment habits, presenting an opportunity for toy retailers to expand their traditional offerings into collectibles, trading cards, hobbies, and experiential retail. By attracting both parents and children into physical stores, this growth avenue enhances the definition of the toy consumer, drawing in teenagers and adults, and encouraging active participation from parents and grandparents.

The resurgence of multigenerational products, such as the nostalgic Beyblade, has reignited interest, with sales surging and weekend tournaments drawing crowds from all age groups. The appeal of trading card games, like Pokémon, has also become multigenerational, fostering a shared experience that extends beyond the initial toy purchase.

Furthermore, the introduction of blind boxes, which combine collectability with the excitement of discovering unknown figures, is attracting teenagers and young adults, blurring the lines between toys, collectibles, and lifestyle products. Amid these changes, toy retailers are adapting their physical presence to become destinations where customers can engage in activities, explore products, and spend time with family and friends, rather than merely serving as retail spaces.

These adaptations reflect the growing convergence between toys, collectibles, entertainment, fashion, and creative hobbies, with the expanding "kidult" market playing a pivotal role in driving this transformation.