The connected toy market is turning into a bigger and better playground for parents and their children. According to this Engage:Moms article from MediaPost, the Internet-connected-toy market (including toys, apps, and games) was expected to reach $2.8 billion by the end of 2015.
The millennial factor
The size of the market makes sense given that millennial parents especially can be counted among the digital native crowd.
Not surprisingly, their pockets also seem to be getting deeper, as 65% of parents said they were willing to pay between $41 to $60 per toy. Another 23% said they would spend $80 or more.
And in keeping with the digital age, the study says moms rely heavily on word of mouth and online reviews.
Most (65%) look for STEM (Science, Technology, Engineering, and Math) content. But 28% said they look for toys that promote creative/imaginative play.
While the main reason may be promoting education, we can’t help but wonder how many parents are also enjoying that tech time with their kids.
We would love to hear your thoughts.