Jeff Greenwald, Marketing Manager at CandyRific, discusses the toy-adjacent world of candy and novelty items in this extended edition of The Toy Book’s 2023 State of the Industry Q&A roundtable. Want more insight from the all-stars of the toy industry? Click here to explore this year’s lineup!
The Toy Book: How can toy-adjacent products, including candy-based impulse and novelty items be used to complement a retailer’s product mix?
Jeff Greenwald: At CandyRific, we believe that our items are 100% impulsive, and with a lower cost than other hard goods, we are a great alternative or an add-on purchase. This is even more evident when it comes to licensing and entertainment events. We are a way to gain the impulse buy that the movie generates, not only adjacent to the retailer’s “statement” but in other areas as well. The front end is the biggest impulse area in the store and our products fit in there extremely well, along with bringing a license or the toy factor to it.
TB: In what ways has the rise of the “kidult” market benefitted CandyRific, and how can retailers take part?
JG: In a recent CNBC article, data showed that almost 25% of toy sales (around $9 billion annually) are purchased by “kidults.” CandyRific has recognized this, and we are aligning with licenses that make sense not only to kids but adults as well. Generations X and Y, along with Millennials are driving purchasing decisions for themselves as well as their kids.
Our more recent candy fans in the Marvel Avengers line have play value for kids and are more detailed and collectible for adult enthusiasts. We recently revamped our Star Wars fans, going back to the classics with characters like Yoda and Chewbacca. These are both nostalgic to adults and new and exciting for kids who are just now discovering these characters.
TB: What are your overall predictions for the state of the toy industry and toy retail this year?
JG: We believe that we will see continued growth in the collectibles category, along with increased sales of impulse items, especially at the checkout. Although the economy is unknown for 2023, in the past, we have seen times like these fuel growth in novelty and licensed candies — they’re an easy and economical treat.
A version of this Q&A was originally published in the 2023 edition of The BIG Toy Book. Click here to read the full issue! Want to receive The Toy Book in print? Click here for subscription options!
