After nearly half a century of vamping up store shelves with her buxom chest and wasp waist, Barbie, the world's favourite doll is slowly but inescapably ... going out of style.
The golden locks are still lustrous, the accessories uncountable and the wardrobe crammed, but the grim reality is a seemingly irreversible drop in sales to depths unplumbed even by Scuba Barbie. Following downturns in 2003 and 2004, sales of the jewel in the toymaker Mattel's crown fell a further 13 per cent in 2005.
“We expected 2005 to be a challenging year and it was, as we continued to experience sales decline in the Barbie brand,†Mattel chairman Bob Eckert said at the end of January.
Barbie Going Through a Midlife Crisis
Barbie Going Through A Midlife Crisis
Trend Themes
1. Diversity in Toy Industry - The decreasing popularity of Barbie demonstrates a need for a more diverse range of dolls and toys to appeal to a wider audience and promote inclusivity.
2. Eco-friendly Toy Production - As consumer awareness of environmental concerns continues to rise, there is an opportunity for the toy industry to pivot towards more sustainable and eco-friendly production methods and materials.
3. Interactive and Educational Toys - As children become more tech-savvy and parents seek educational value in their purchases, there is an opportunity for the toy industry to create interactive and educational toys that incorporate technology and learning in innovative ways.
Industry Implications
1. Toy Manufacturing - As the toy industry shifts towards more diverse and eco-friendly production methods and materials, there is an opportunity for innovative companies to fill the gap and disrupt traditional players.
2. Advertising and Marketing - With the need for more inclusive toy options, advertising and marketing firms have an opportunity to create campaigns that promote diversity and inclusivity in the industry.
3. Edtech and Child Development - With the shift towards interactive and educational toys, the EdTech and child development industries have an opportunity to partner with toy companies to create innovate products that support learning and development in children.