Toy-makers Mattel and Hasbro are said to be "terrified" by increasingly the high-tech gift demands of the youngest Americans, according to research.
Today’s children are so interested in tablets and smartphones that major toy manufacturers Hasbro and Mattel are said to be worried sick about business.
“The top two guys, Mattel and Hasbro, are terrified,” Sean McGowan, managing director of equity research at Needham & Company, told the Financial Times.
“They should be terrified, but the official party line is they’re not terrified.”
These anxieties are compounded by the fact that Mattel’s top-selling product this year isn’t any kind of traditional toy, but rather a plastic cellphone case.
Tablets aren’t just something that kids use every so often, as “the amount of time children are spending with technology devices has skyrocketed.”
“They can watch free content and play free video games for hours on end.”
It's a new era, that's for sure. Parents: Are you all about modern technology or more traditional as far as gifts for your little ones are concerned?