Sales of the iconic Barbie doll have decreased by 9% in Mattel’s most recent fiscal quarter, the toy giant announced. This marks the third consecutive quarter of declining Barbie sales and the ninth since the blockbuster "Barbie" movie was released in 2023.
Overall doll sales have seen a 4.6% decrease in the first half of the year, according to retail data tracker Circana. During this period, other toys like games and squishies have gained market share.
Barbie had previously been a significant growth driver for Mattel, achieving sales growth in 14 of the 18 quarters since 2019, according to Seaport Research. The company had previously responded to concerns about the doll’s proportions by introducing a wider variety of body types, skin tones, and hair colors.
Sales of Barbie experienced a notable surge during the COVID-19 pandemic when families sought entertainment for children confined to their homes. The "Barbie" movie, starring Margot Robbie, also generated renewed interest, leading to nearly $1.5 billion in box office revenue and over $150 million in sales of related products. However, this momentum has since diminished.
One toy industry analyst suggested that casting Robbie as Barbie might have inadvertently reinforced a blonde, blue-eyed stereotype that Mattel had been trying to move away from. Furthermore, children's preferences appear to be shifting.
Mattel's new "KPop Demon Hunters" dolls, inspired by a popular Netflix series, are reportedly selling out quickly both online and in stores. These dolls, along with other merchandise, are credited with driving a 4% increase in overall doll sales to $703 million, largely offsetting the decline in Barbie sales.
Currently, the most popular toys in the market include squishy toys like Schylling’s NeeDoh, as well as slime, plush items, and games, according to industry experts.