They're Back! - Hasbro's Furby make a comeback

 

Hasbro's New Furby Toys 2023

Does anyone remember those annoying, trending furry toys that spoke gibberish and were receptive to most actions and noises you made? If so, the Furby has made a return on store shelves. Let's take a dive into the (potentially) triumphant return of the famous Furby 'Communications Corner' style. 

The Furby accumulated much of its global reputation in 1998 and early 2000s because according to Hasbro it had over 40 million sales within three years of entry into the market. It was a truly innovative toy given the limited technological advancements of its time (compared to today) and was able to bring joy to its target market by listening and responding to their conversations and possessing conventional responses such as dancing to music. Pretty cool right?

Now those who are reading may ask, "Nima, why would this toy possess any form of nostalgia for you? You're 19 and born in 2003". Well, good sir/madam, the Furby did have a comeback in 2012. A time where I spent exposed to an abundance of captivating television adverts on CITV (Children's ITV), which is most likely where my knowledge of the Furby originated from. 

Furby Advert (2012)

Although, my fondest memory of Furby was this YouTube video of a man receiving one as a gift, and reluctantly forming a bond with it. Take a look below - I believe it maintains its' comic validity 10 years later. 

Franics gets The New Furby! (2012)

Anyways, let's not deviate towards a nostalgic blog post that explores popular videos of the 2012 era (definitely not marketing-related). It's important to understand why Hasbro decided to relaunch the Furby - declining demand and sales for toys. In January the NPD Group - one of the world's biggest market research firms - revealed that 1 in 4 toys and games bought in 2022 went to teenagers and adults, see here. 

This didn't prevent Hasbro from conducting a range of qualitative research methods such as focus groups and in-depth interviews (plausibly) to scientifically unearth what current generation kids seek from a toy (instead of their devices). The new Furby includes '600 responses' and 'Sassy surprises'. Not sure if this will give them their short-term dopamine hit children nowadays are accustomed to with TikTok and YouTube shorts for a whopping price of £74.99.

Source: SmythsToys (Out of Stock - sign of high demand or supply chain issues?)

When all of the above is considered, it makes you question Furby's viability. Hasbro is entering a market that lacks demand for toys which poses a prevalent financial risk. However, if significant investment into research and development for the Furby has produced potentially lucrative results and confirmation that demand will be present for this product for a new generation of kids then it could be economically viable. Only time will tell. For now, it's best we monitor the financial performance of the Furby.