The love for plushies among young adults is revitalizing the toy industry, with significant sales growth reported.
In fact, adults spent over $1.5 billion on toys for themselves in just the last quarter of 2024. That’s a lot of plushies! Young adults are holding onto their childhood favorites or splurging on trendy ones like those giant 5ft geese from TikTok.
A recent Jellycat pop-up in Selfridges was packed with people buying quirky plushies that look like fish and chips. And in Asia, there’s this cute, spiky rabbit called Labubu that’s got folks in their 30s hooked.
Despite some struggles in the toy industry, it seems plushies are a bright spot. A report showed toy sales in the G12 nations dropped by 1% in early 2024, but that’s way better than the 8% decline in 2023. Adults are really stepping up, making them the biggest buyers.
Juli Lennett from Circana said the toy industry is facing challenges but also has tons of opportunities. Mintel’s report found that plushies are super popular, with a third of all toys sold in the US last year being plush or building sets.
Brian Benway, a senior analyst, mentioned that plushies are right up there with Lego in popularity, which is a big deal. Melissa Symonds from Circana noted that adults are buying toys for the nostalgia and mental health benefits they bring.
Some folks think millennials and Gen Z are just taking their time growing up, using plushie collecting as a way to cope with life’s delays. Carter Kench, a Squishmallows collector, said hunting for plushies feels like an adventure.
It’s becoming more accepted to love these toys, with social media communities sharing their passion. Benway pointed out that many people don’t care if others think it’s silly; it brings them joy. Even Lady Gaga shared a pic of her bed covered in Squishmallows!
The global market for plush toys is expected to grow by 8.2% each year until 2030, with cartoon toys for fandoms seeing even higher growth. It looks like plushies are here to stay!
