How a toy becomes the coveted 'it' gift of the holiday season

During the holiday season, there's invariably one toy that becomes the most sought-after gift. But what factors contribute to a toy's rise in popularity? Consider the case of Tickle Me Elmo in 1996. Tyco, the manufacturer of this plush toy, underestimated its demand, leading to a shortage. This resulted in frenzied shoppers fighting over the limited stock, with some even paying as much as $7,000 for a single Elmo on the resale market.

This phenomenon of an 'it' toy is not unique to Tickle Me Elmo. Each year, a new toy captures the attention of consumers. The process of a product achieving this status is multifaceted, particularly in today's complex market. One crucial factor is the 'social mood', which refers to the collective feelings and attitudes of consumers. Given the current global issues, children are not immune to the impact of these events. Consequently, successful toy brands are incorporating values such as resilience, playfulness, and emotional intelligence into their products.

Lego, a Danish company established in 1932, consistently ranks high on the list of trending toys. This year, Lego sets were among the top sellers during Cyber Monday. The company's values, which include 'free play' and 'being curious, experimenting and collaborating', align with key social values, contributing to its enduring popularity. Another example is Hugimals World, a plush toy brand that has received accolades from Parent magazine and other publications. Marina Khidekel, the founder of Hugimals World, attributes the brand's success to its emphasis on 'mental, emotional and social health'. This suggests that a toy's appeal extends beyond its entertainment value; it must also offer an enriching and interactive experience.