Hatchimal Inventors Release A New Toy

Last year, Hatchimal toys were the most sort toy in the market during the holiday shopping and it was a huge hit for its creator.

Now Spin Master Ltd has come up with a new toy which can bring joy or sadness for just $2.99. Known as the blind bag, the toy which is in the form of a tiny purple egg gives buyers no clue as to what is within?

After having a great success from Hatchimal last year, Spin Master decide to come up with something creative once again introduced the low-cost Hatchimals Colleggtibles earlier this month.

The introduction of the new toy came about at the right time as the recent Toy Fir New York, Toy Industry Association Inc, identified collectibles as one of its leading toys for 2017.

According to data from market observer NPD Group the sales of collectibles increased by 33% which is higher than the toy industry’s revenue increase of 5%. Trading cards, figurines, dolls and blind bags which make up the collectibles sector accounted for 9% on the industry’s revenue in 2016. Sales of blind bags were also up by 60% which is a massive increase from three years ago.

The most interesting aspect about blind bags is that they are quite affordable at $2.99 and $3.99. Furthermore, retailers selling these toys go through less stress as the toys take up less space than other toys and can even be placed next to the cashier.

Juli Lennett, senior vice president and U.S. toy industry analyst for NPD also stated that it becomes very easy for retailers to replenish the toys.

However, Spin Master is not the only company taking advantage of the new trend. Other companies are also creating collectibles: Universal Studios Inc. created a collection of Despicable Me 3 blind bags; Dream Works Animation LLC’s Troll also has a blind bag, just to name a few.

Although many companies are coming on board, Funko and Shopkins was the first group to initiate the blind bags in 2014. But according to Gerrick Johnson, a toy industry analyst at BMO Capital Markets expressed although there is a great hype around blind bags, it is however not sustainable.

The product will definitely experience massive growth this year but that is how gar it can get before a new toy takes over the market. Lennett however disagrees, stating that blind bags will be an ongoing trend for people.