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Publisher Description

This essay sheds light on the future of the action figure industry and explicates how emerging technologies will revolutionize the action figure industry. Moreover, the benefits of leveraging robots in the action figure industry are demystified in this essay. Furthermore, how to earn substantial money online so that you can afford to procure your own action figure collection is expounded upon in this essay.

The future of the action figure industry will not only be characterized by dynamism as it continues to metaphorically evolve, but will also be eminently auspicious for toy designers, supply chain members, retailers, and customers. Technological advancements are profoundly changing the action figure industry and are rendering it all the more technology driven. The behemoth action figure industry shows no signs of decelerating anytime in the imminent future. The behemoth action figure industry is subsumed under the sizeable global toy industry. The expansion of the global toy industry will be attributed to the rising demand for action figures as well as an increasing demand for other types of toys. “The global toys market is projected to reach revenues of more than $120,000,000 by 2023, growing at a compound annual growth rate of around four percent during 2017-2023” (“The global toys,” 2018). “In 2019, retail sales of action figures and accessories in the United States alone amounted to approximately $1,710,000,000” (O'Connell, 2020).

While the action figure market may not be the utmost largest market segment of the behemoth global toy market, its latent potential to grow to an unprecedented size should not be underestimated. As fictional intellectual properties, such as Marvel and Star Wars, become ever more popular worldwide, more adults and children will commence dabbling into action figure collecting. People love to procure action figures based on their favorite media franchises and customers deem action figures to be highly appealing products as a form of 3D art. The action figure industry unequivocally has products available for children and adults of all ages to relish in playing with and/or collecting, such as high quality action figures for adults or action figures with play features for children. The rapid growth of the action figure industry hinges upon the willingness of toy companies to produce desirable toys that their target market is directly requesting for them to produce. When toy companies simply acquiesce to giving the customers what they ultimately desire then this course of action helps contribute to the rapid growth of the action figure industry.

On the other hand, when toy companies neglect to provide their customers with what they are directly asking for then it is often calamitous for the action figure industry and undermines its future growth potential. While the future of the action figure industry may seem enigmatic, the action figure industry is preordained to have a prosperous future in the coming years as more and more toy companies take heed of accommodating customer product requests and acknowledging customer feedback. By embracing customer feedback and accommodating customer product requests, toy companies can improve their product lines and deliver superior customer value to their target markets.

The global toy industry is comprised of a myriad of lucrative market segments and is becoming ever more expansive as more and more adults are becoming collectors of toys, such as DC Multiverse Action Figures or NECA Action Figures. Adult collectors are not the only demographic cohort who are driving action figure industry growth. Children also relish adding action figures of fictional characters to their emerging action figure collections. Fortunately for toy companies, people who grow up collecting action figure from a young age are apt to continue this habit of procuring action figure as adults. The action figure industry is poised to have a robust and lucrative future.

GENRE
Business & Personal Finance
NARRATOR
MRG
Matthew R Gargano
LENGTH
02:03
hr min
RELEASED
2020
November 20
PUBLISHER
Dr. Harrison Sachs
PRESENTED BY
Audible.com
LANGUAGE
EN
English
SIZE
115.3
MB