Hasbro toy targets the preschool market to dominate sales
June 9, 2023
Hasbro says the toy manufacturer is focused on leading in five categories: action figures, arts and crafts, games, outdoor and sports, preschool and toys. “Preschool is the only area where we’re not number one. We’re a fast-growing number four globally. In a lot of ways, our preschool business is just action figures for smaller hands. We can build relationships at the age of two or three with favorites like Peppa Pig,” said Hasbro CEO Chris Cocks.
When it comes to a Hasbro toy, the CEO stated that 18 year and older adult demographic accounts for around 40% of the company’s revenue.
In order to expand their market share and dominate, it will be interesting to see how Hasbro’s plans evolve in order to drastically move from one end of their demographic spectrum and shift towards the opposite end.
There may be more opportunity in this Hasbro toy market since the collaboration with Hasbro and Mattel has become official.
Recent News
Consumer Confidence Drops Due to Rising Inflation Worries
Consumer sentiment took a hit as inflation concerns soared, despite otherwise positive signals in the economy, according to a recent survey.
UK Economic Growth Quickly Exits Recession
Britain’s economy has recently shown promising signs of recovery, with the first quarter of 2024 witnessing the strongest growth in almost three years.
Taco Bell Finally Releases Cheez-It Collaboration
Taco Bell’s collaboration with Cheez-It is finally hitting restaurant locations this summer, marking the debut of one of its most highly anticipated test menu items.
Target Removes LGBTQ Pride Month Products From Some Stores
Target Corporation has made a strategic move regarding LGBTQ-themed merchandise for this year’s Pride Month in June.