Source: The Insights Family/The Toy Book

Fresh off of a major rebrand and launch of its Portal 4.0 platform, The Insights Family issued the Kids & Family Industry Report 2021.

The in-depth look at the changing face of businesses in the kids and family space — including toymakers, game companies, educators, and family entertainment and licensing companies — shows that the industry holds an optimistic outlook for the year ahead with 75% of companies surveyed reporting that they believe they will achieve their goals this year. Still, the industry is facing change. 80% of companies surveyed said they believed they would be operating much differently within the next two years, and 90% said that they believed that an economic downturn will emerge following the COVID-19 pandemic.

Related: Industry Insight: How to Leverage Kids’ Behavioral Data to Adapt Your Products

“Overall, the findings of the report have shown how the industry is starting to become not only more aware of the changes they need to make, but more confident in their ability to adjust their businesses, says Nick Richardson, founder and CEO, The Insights Family. “That said, there is still a significant knowledge gap with only 6% of businesses stating that they have sufficient understanding of this generation of kids, parents, and families. This illustrates the importance of brands listening to kids and families’ voices when shaping their future strategies and executing their current plans”

The full report, which delves into the rise of direct-to-consumer marketing, changing retail footprints, and more is available as a free download from the Insights Family.

About the author

James Zahn

James Zahn

James Zahn, AKA The Rock Father, is Editor-in-Chief of The Toy Book, a Senior Editor at The Toy Insider and The Pop Insider, and Editor of The Toy Report, The Toy Book‘s weekly industry newsletter. As a pop culture and toy industry expert, Zahn has appeared as a panelist and guest at events including Comic-Con International: San Diego (SDCC) Wizard World Chicago, and the ASTRA Marketplace & Academy. Zahn has more than 30 years of experience in the entertainment, retail, and publishing industries, and is frequently called upon to offer expert commentary for publications such as Forbes, Marketwatch, the Wall Street Journal, the New York Times, USA Today, Reuters, the Washington Post, and more. James has appeared on History Channel’s Modern Marvels, was interviewed by Larry King and Anderson Cooper, and has been seen on Yahoo! Finance, CNN, CNBC, FOX Business, NBC, ABC, CBS, WGN, The CW, and more. Zahn joined the Adventure Media & Events family in 2016, initially serving as a member of the Parent Advisory Board after penning articles for the Netflix Stream Team, Fandango Family, PBS KIDS, Sprout Parents (now Universal Kids), PopSugar, and Chicago Parent. He eventually joined the company full time as a Senior Editor and moved up the ranks to Deputy Editor and Editor-in-Chief.