Hasbro Focuses on 'Kidult' Market for Growth
A strategy shifting from children's toys to adult games.
1Hasbro's New Target Audience
Hasbro is moving away from traditional children's toys to focus on products for adults. CEO Chris Cocks is reshaping the strategy to appeal to the 'kidult' market. This approach is helping the company boost its sales.
2The Success of Magic: The Gathering
Hasbro's 33-year-old 'Magic: The Gathering' card game achieved significant success through its collaboration with Marvel Super Hero collectibles. Digital integration and steps to facilitate group play have increased the game's popularity.
3Revival in the Toy Market
After a pandemic-induced slump, the toy market is reviving. Research firm Circana reported double-digit growth in toy sales this spring. Adults, particularly women, are a key driver of this growth.
4Play-Doh's Product for Adults
Hasbro launched its first product for adults under the Play-Doh brand. 'Blooms by Play-Doh' allows users to create realistic flower arrangements. This marks a first in the brand's 70-year history.
5CEO Chris Cocks' Strategy
Chris Cocks brought his experience from Microsoft's Xbox division to Hasbro. He focused on the company's core businesses while modernizing them. Selling the eOne television and film business reduced costs and reshaped the gaming strategy.
6Hasbro's Future Plans
Hasbro aims to reduce investments in video games to maximize returns from existing assets. New games will be integrated with trading cards and role-playing games. This strategy will support the company's long-term growth.
Original article: Fortune | FORTUNE — Hasbro, 'Kidult' Pazarına Odaklanarak Büyüyor