Question of the Day: What's the average lifespan of a toy fad?
Answer: About 8 months before it gets marked down
With the holiday season upon us and the Fingerling in short supply, I thought the answer to this question was instructive in making me think that perhaps it may not last for long. From NY Times article:
The $84 billion global toy industry is struggling for the attention of children obsessed with smartphones and tablets. Global toy sales have been growing each year, but at a slower pace than video games. The average life span of a toy fad is about eight months from its launch until it’s marked down, said Richard Gottlieb, an analyst and publisher of Global Toy News.
- What is the hot toy/game to get this year?
- What do you think are the factors that make a certain toy a must-have?
- Think of a toy/game that you were very interested in before you went to high school. How long did your interest last?
- What is it about toys/games that leads to these short “lifespans?"
Here's the ready-to-use slides for this Question of the Day that you can use in your classroom
Is a toy a want or a need? Listen to this Dr. Sarah Newcomb podcast and you might think differently about wants and needs when it comes to budgeting.
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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