Model train companies are at the end of their tunnel
Jan 22, 2024
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The model train industry is declining due to an aging fan base and lack of interest from younger generations. The podcast discusses challenges faced by the industry, as well as potential solutions. It explores the potential for revitalization through the pandemic, enthusiast clubs, and social media platforms like TikTok. The hosts also mention their affiliation with the HubSpot podcast network and recommend another podcast focusing on direct-to-consumer businesses.
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Quick takeaways
The model train industry is facing a decline due to aging enthusiasts, limited space, high costs, and alternative hobbies and interests.
Efforts are being made to revive the industry, such as increased sales during the pandemic and attracting younger members through social media platforms like TikTok.
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The Decline of the Model Train Industry
The model train industry has been experiencing a decline due to various factors. One famous English company that has been in the business since 1946 recently shut down, highlighting the challenges faced by the industry. Additionally, a large model railway convention took place for the last time, further indicating the declining interest. The main reason behind this decline is the aging membership of train enthusiast clubs, as the average age of membership has increased from 39 in the 70s to 64 in 2016. Limited space, high costs, and the availability of alternative hobbies and interests have also contributed to the fading popularity of model trains.
Efforts to Revive the Model Train Industry
Despite the decline, there are efforts to revive the model train industry. The pandemic resulted in a 28% increase in annual sales for a toy company called Hornby, indicating a potential resurgence of interest. Moreover, there are ongoing initiatives to attract younger members to enthusiast clubs. One potential avenue for rejuvenation is social media platforms like TikTok, where niche topics can gain popularity. However, the industry will likely remain niche and appeal primarily to passionate individuals. While the decline is unfortunate, it reflects the evolution of society and changing interests, with model trains finding a smaller, but dedicated, audience.
The model train industry has been on a steady decline for years. With hobbyists aging out and a lack of Millennial and Gen Z interest, companies like Lionel and Hornby are looking for solutions. Is this the end of the model train business, or is there a light at the end of the tunnel?
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