🐰 We couldn’t fit all the best Lunar New Year campaigns into last week’s newsletter so we’re rounding up a few more of our faves: Coca-Cola’s AR-enabled campaign that focused on cross-generational connection; the Netflix x Eten Teo collaboration; and RHB Bank’s homage to Lex Low.

In this week’s edition:

• Innovation of the Week: How Kidults are growing the ‘joyconomy’
• Fax, No Printer: What did Gen Z in SEA get up to over Lunar New Year?
• Regional Round-up: The BTS effect, plant-based winners, generative AI.. and more!

🧸 JUST KIDDING AROUND

Research just in from Euromonitor has revealed that Kidults (“adult consumers who buy products that were originally intended for children”) are making Southeast Asia the fastest growing region for sales of toys and games with a 5.4% retail value CAGR. According to the market research company, SEA wasn’t previously considered a strong Kidults market, but toy categories saw considerable growth during the pandemic that shows no signs of slowing. The concept of, and attitudes towards, ‘toys’ are changing rapidly not just in SEA but globally, Kidults now account for 25% of all sales; the biggest source of growth for the industry.

💡 Our take

In a world beset by seemingly endless crises, many people are looking for small moments of happiness that provide emotional release. In 2023, the joyconomy will be the perfect antidote to fight rising anxiety – and consumers of all ages are going to want in. Play is no longer just for kids, it’s for all ages.

From an aesthetic POV, expect to see more #kidcore (primary brights and clashing patterns), dopamine dressing, and for more beloved childhood characters to be elevated into luxury status symbols. Remember how Kidults everywhere went wildwhen McDonald’s introduced Happy Meals for adults in October 2022? That was just the beginning… Barbie-mania is on the horizon!

We’re not suggesting that brands looking to play in this ‘joyconomy’ should release their next product in Viva Magenta, Pantone’s color of the year. But if you want to appeal to Kidults, you need to consider what they’re buying into – namely their younger, inner selves. So if there are areas of your brand that you previously felt weren’t ‘grown-up’ enough, 2023 is the time to bring them to market. Embrace nostalgia and joy to help people experience childlike wonder more often, taking inspiration from pop culture past and present (we can certainly help with that!). This doesn’t just apply to products – more joyful experiences in retail, beauty, hospitality, health and wellbeing will also be in demand as people look to incorporate play into their everyday.

So remember: you’re no longer just marketing to your adult target audience, but appealing to the kid that’s trapped within them. How can you satisfy that inner child and help unleash joy?

For those of you born before 1997, ‘fax, no printer‘ is Gen Z speak for ‘undeniable facts I agree with’