Gen Z Is Buying Themselves Toys in Record Numbers This Holiday Season. Here’s Why.
Experts blame the ‘Peter Pan Effect’ for young adults collecting plush toys like Labubu dolls and Jellycat.
Gen Z can’t afford houses, so they’re buying stuffed animals instead. A Circana report found that 76% of Gen Z shoppers between the ages of 18 to 34 bought a toy for themselves or another adult this year, driven by a craze for Labubu dolls from Chinese company Pop Mart and soft toys from British brand Jellycat, CNBC reported.
Pop Mart posted a nearly 400% surge in net profit in the first half of 2025, with $423 million in revenue from Labubu dolls alone.
Experts call it the “Peter Pan effect” — Gen Z longing for childhood joy in the midst of skyrocketing costs and unaffordable milestones like homes. Many are “doom spending” on small luxuries because bigger goals like houses or families feel out of reach. Around 85% of British Gen Z reported experiencing loneliness, and collecting toys helps them feel part of a community through online groups and pop-up experiences.
Gen Z can’t afford houses, so they’re buying stuffed animals instead. A Circana report found that 76% of Gen Z shoppers between the ages of 18 to 34 bought a toy for themselves or another adult this year, driven by a craze for Labubu dolls from Chinese company Pop Mart and soft toys from British brand Jellycat, CNBC reported.
Pop Mart posted a nearly 400% surge in net profit in the first half of 2025, with $423 million in revenue from Labubu dolls alone.
Experts call it the “Peter Pan effect” — Gen Z longing for childhood joy in the midst of skyrocketing costs and unaffordable milestones like homes. Many are “doom spending” on small luxuries because bigger goals like houses or families feel out of reach. Around 85% of British Gen Z reported experiencing loneliness, and collecting toys helps them feel part of a community through online groups and pop-up experiences.
