By Felicia Nwosu

A recent report has recorded that Barbie, the fastest movie ever to pass the $1 billion mark from Warner Bros. is expected to top Christmas lists in 2023 as Santa’s sleigh takes to the skies, alongside other classic toys such as Hot Wheels and Lego movies.

The report said action figures such as Spiderman and Transformers which are projected to decline by 2%, where Classic toys still top of parents, kidults and children’s wish lists for 2023 Christmas.

This was according to a report made by Loo Wee Teck, Head of Toys and Games at Euromonitor International.

“Global sales of action movie figures are projected to decline 2% in 2023. But Dolls and model vehicles are forecasted to buck the downward trend with flat sales for dolls and 1% growth for model vehicles.   This demand is driven by the movies like Barbie and Fast X as toy manufacturers morph into entertainment companies and push out digital content to drive additional revenues like movies,” he said.

He reaffirmed the buzz around sustainability across the globe and noted that toys made from natural material like wood were expected to be in high demand this year benefiting from the increased focus by families, Gen Z and Millennials on sustainability.

“Toy manufacturers have had a big push this holiday season. Some leading toy manufacturers have reported a drop in sales in the first half of the year especially in the US – the largest toy market. We have seen a concerted effort from both manufacturers and retailers in this critical Christmas shopping period with aggressive promotion and advertisements,” added Wee Teck.

In his analysis, he listed China as one the biggest toy manufacturer with three quarters of the global market.

“China remains the key toy manufacturer in the market accounting for third quarter of all global toys according to trade sources. The Indian toy industry is one of the biggest beneficiaries of the “Make in India” campaign driven by the country’s government. India’s toy exports increased 60 per cent from $203.46 million in 2018-19 to $325.72 million in 2022-23, based on data provided by Ministry of State for Commerce and Industry of India.”

Recall that over the past few months, Barbie has continued to  sustain its position, having made remarkable headlines on the  top of the domestic theatrical box office with $1.03 billion in 17 days of its release in ticket sales worldwide, making it the second most top movie in 2023.