A US$60 plastic egg has cracked the holiday toy market
The Hatchimal is so popular that resellers are hawking it for double its retail value
New York
WHEEZING, the furry purple creature rolls past my keyboard, away from the mess of plastic eggshell it just pecked its way out of. I press its tummy, and it pivots, squawking and flapping its green plastic wings. Suddenly, there's baby talk. It burps and chortles before settling down again, awaiting further interaction. Its eyes flash neon green and blue.
This Furby-like doll is a Hatchimal, an animatronic toy created by Spin Master Corp, and it has ascended to a rare level of holiday retail success. You probably can't get one. Nobody can. Every few holiday seasons, a toy becomes so popular that waitlists emerge, fist fights break out, and resellers take to hawking it for double its retail value. In the late '90s, it was Tickle Me Elmo. More recently, it was Zhu Zhu Pets. Now it's the Hatchimal, which retails for US$60 - a splurge for a toy, but one well-suited to the holiday season.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue