"Paul Weingard, CEO of Schylling, stated, 'Literally, within the first nine weeks of the year, we'd sold through the whole year's inventory. No company can plan for that. It's been fantastic, overwhelming demand that just well outstrips our ability to replenish.'"
"NeeDoh has been growing its sales by about two times a year, with the recent viral surge making it the best seller of all time for Schylling, a company that specializes in vintage and modern toys."
"The popularity of NeeDoh squishies has led to a mini-Labubu effect, where kids and parents are desperate to find them, while resellers take advantage of the situation by inflating prices."
Courtney Sullivan, a lawyer, successfully sourced NeeDoh squishies for her nieces after they became sold out in Texas. NeeDohs, colorful squishy toys, have gained immense popularity, causing a surge in demand that exceeds supply. Schylling, the manufacturer, reported selling out its entire year's inventory within nine weeks. The company has seen sales growth of about two times annually, with a recent surge estimated at six times last year's growth. Despite the success, the toy industry faces challenges, as seen with Pop Mart's stock drop due to changing consumer preferences.
Read at www.businessinsider.com
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