From TikTok trend to bestseller: Squishmallows dominate the cuddly toy market

Their velvety bellies feel as if they’re filled with marshmallows. Their cute faces draw you in for a cuddle. And they’re the new stars in toy heaven. Their name? Squishmallows.

At online retailer Galaxus, Squishmallows have gone from accounting for one per cent of all soft toy sales to almost 20 per cent within four years. One in five cuddly toys bought by Galaxus customers is now a «Squishie», as they’re also called in kindergartens and schools. The old stuffed toys from brands such as Fisher-Price, FurReal and Simba have to watch from the back rows of the playroom as their rivals are cuddled.

And with that Squishmallow’s probably the best-selling soft toy brand in Switzerland at the moment. According to market researcher GfK, Galaxus is the country’s biggest toy seller. Currently Galaxus sells a four-digit number of Squishmallows every month.

«The hype has made it into Switzerland and spread like crazy,» says Lara Diener, Category Business Manager at Galaxus, who’s responsible for the soft toy range. In 2023, customers bought 130 per cent more Squishmallows than in 2022, and 18 times as many as in 2021. From January to May this year, there’s been a growth of 240 per cent in comparison to the same time frame last year. «No soft toy brand has ever made it to the top this quickly,» says Lara.

However, the wave hit Switzerland later than other places. According to the market research company Circana, in 2022 five Squishmallows were already in the top 10 best-selling toys in the USA – one even took first place. And, in 2023, Squishmallows was the best-selling toy brand ever. «We’re not quite there yet in Switzerland,» says Lara. So far this year, Squishmallows is the 23rd best-selling toy brand at Galaxus.

The success of the Squishies isn’t down to a billion-dollar marketing campaign. According to media reports, the parent company Jazwares hasn’t invested a single franc in advertising its bestseller yet. Lara explains: «Squishmallows are so popular because they feel so cuddly and are supposed to help people with anxiety. They were particularly hyped on social media during the coronavirus pandemic. And that’s why they also have a lot of adult fans.»

Limited editions for loyal fans

So how did it all start? Squishmallows are made from a particularly stretchy fabric that contains a filling made from recycled plastic bottles. «This separates them from the other soft toys on the market – they feel just like a marshmallow,» says Lara.

Because they’re so cuddly, Squishmallows quickly became popular during the low-contact coronavirus pandemic – especially among teenage girls. This was driven by videos that fans shared on TikTok and other social media. There are now over 670,000 TikTok posts with the hashtag #squishmallows – with billions of views in total. Celebrities such as Kim Kardashian, Lady Gaga and Charli D'Amelio have also shown their collections publicly. In 2020 and 2021, the cuddly toys were often sold out. Jazwares production couldn’t keep up with the demand. This gave the impression that Squishmallows are rare and sought after. «Jazwares took note of this and now produces limited edition collections for its fans,» says Lara.

The company has several thousand different Squishmallow designs now – complete with name and biography. One of them is Leonard the vegetarian lion who loves naps. Or the dragon lady Tatiana, who dances with her friends and reads books in the library. The sizes range from 5 to 60 centimetres, the prices from around 10 to 80 francs. So there’s something for almost every taste and every budget.

It’s not just children who adore them, but particularly often those in the Gen Z and millennial bracket – people aged between 12 and their early 40s. «For a soft toy brand, Squishmallows appeal to an enormously broad audience», says Lara, «from small children to adults who love collecting items and spending money.»

Galaxus’ sales figures can confirm this – most stuffed toys end up in the shopping basket of 35 to 44-year-olds. This is also the case with Squishmallows, but they appeal to significantly more young adults – as well as the cohort of 45 to 54-year-olds.

The hype surrounding collectible figures, collectible cards and Lego also reflects a new enthusiasm for toys among adults. The industry has coined a term too – «kidulting» – combining «kid» and «adult». Toy companies have long targeted their design and marketing at an older, affluent clientele.

So Squishmallows aren’t just sweet, they’re also tough business. This is summed up by the fact that the parent company Jazwares has been part of the international conglomerate Berkshire Hathaway under CEO Warren Buffett since 2022. Toy experts believe the brand will enjoy the same sustained success as Hello Kitty or Pokémon.

What do you think of the hype surrounding Squishmallows? Have you bought some for yourself or your children? Which one’s your favourite Squishie? The comments section is yours!