Barbie film fever is set to turn the world pink and skyrocket doll sales to an estimated US$14 billion by 2027, according to a Euromonitor expert.
Loo Wee Teck, Head of Toys and Games at Euromonitor International, said the upcoming Barbie movie, releasing on 21 July featuring Margot Robbie and Ryan Gosling, is set to jumpstart interest in Barbie and dolls globally.
The much-anticipated Barbie film is expected to boost dolls and accessories sales by a massive 16% growth in 2026 compared with sales in 2022. Dolls’ purchases rose during the pandemic before falling away last year.
Wee Teck commented: “After a dismal 2022, when sales of dolls were negatively impacted due to high prices amid the economic uncertainty, owner Mattel is set for a strong 2023 as a result of the Barbie film’s halo and the relaunch of Monster High dolls, new Disney Princess and Frozen toys.
“Mattel has consistently refreshed its Barbie line-up in accordance with the change in consumers’ attitudes and has launched new figures with different ethnicities and a wider range of body types.
“Mattel’s growth is also driven by ‘kidults’ who are buying childhood toys like Barbie. The company has moved into video games and digital content. The transition into an entertainment company has helped Mattel generate additional revenues from digital content and drive sales for its physical toys.”
The furore around the Barbie movie is also causing a stir in the world of fashion, according to Marguerite Le Rolland, Euromonitor International’s Head of Apparel and Footwear.
Le Rolland commented: “The Barbiecore trend in fashion started last year with the Balmain x Barbie collection but 2023 has seen a lot more brands embracing rich bright pink shades from Valentino to H&M collections, in anticipation of the much-awaited release of the Barbie movie.
“As the trailer states it, whether you love or hate Barbie, this movie is for you and in the fashion industry it seems that wearing rich bright pink is also gathering everyone across age groups and genders. Whether you want to signal your girly sense of style or return to a favorite childhood shade for Millennials, or for Gen-Zers – escape to a previous era.
“Wearing such a rich color is also definitely a bold way to play with the traditional codes of sexiness and girly-ness and turn them into the ultimate girl power statement.”