Barbie has been a competitor in the toy market since her launch by Mattel Inc. in 1959. For many years the Barbie doll has been a sought-after edition to young girls Christmas lists, and a cause of tears and tantrums in toy aisles worldwide. It appears in recent years that is changing, as Mattel is seeing a significant sale slump.
Barbie has been everything from a zoo keeper to a mermaid in her 55 years of shelf life, but with global sales dropping in double-digit percentages each quarter, there is evidence that young girls interests seem to lie elsewhere. It’s not only Barbie who’s feeling the pinch. Mattel’s high-end American Girl dolls which retails for around $100 are also declining in the marketplace.
Mattel had hopes of maintaining the merchandising rights for the wildly popular Disney movie “Frozen”, but Disney shifted production to rival toy maker Hasbro. The loss of the Frozen dolls are a contributor to Mattel’s slumping sales, as demand for Frozen anything is intense these days (ask any 5 year old girl).
It’s a tricky task, winning over the affections of Barbie’s target market. Small children are known to be a bit fleeting, and the doll market only allows a short window for repeat sales. Gone are the days when Barbie was the main fashion doll as shelves are now saturated with competitors. Another sad reality is that children are more immersed in digital platforms then real-life toys. Now dress-up games can be played on an iPad, with rich graphics and customizable features. Who would want to go through the hassle of buying a Barbie and struggling with her Velcro clothes always sticking to one another? (Remember that? Always stuck together…)
Is it all doom and gloom for Mattel? Can they deal with a future that maybe doesn’t include Barbie, Ken or Kelly? Despite Barbie’s downfall, their smaller scale productions of Monster High (punky, Gothic high school going dolls) are keeping them afloat.
And they have a trick up their sleeve for the boy demographic, a new action figure named Max Steel. Steel has a solid online backing, with promotional videos, cartoons and games being released before his debut.
Like any market now-a-days faced with the rise of the digital age, the only options are innovate or falter. Barbie may be on the verge of retirement, but 55 years is quite the achievement.
130 careers and a true queen of controversy, Barbie the legend will never be forgotten.
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