Hot Wheels id is a new toy experience from Mattel (NASDAQ:MAT) for its classic car brand.
The idea behind Hot Wheels id is that it allows kids to play with the physical toys while still taking part in digital vents. This includes racing their cars on physical tracks and uploading data to an app.
The Hot Wheels id system also allows kids to race each other with their cars and record their wins and losses. The system is also able to track the top speeds on the toy cars and how many laps they complete.
Mattel is no doubt hoping that this new Hot Wheels id system will appeal to kids by combining real life toys with an online experience. However, there’s the cost of entry to consider.
Parents that want to buy everything their kid needs for the Hot Wheels id will be spending a pretty penny. This includes each of the cars costing $6.99. The Hot Wheels id will then set parents back by $39.99. Finally, the Smart Track Kit comes in at a whopping $179.99.
That expensive price may be why parents won’t find Hot Wheels id toys at normal retail stores. Instead, it is only available exclusively at select Apple (NASDAQ:AAPL) stores, Apple.com and through the App Store. Maybe Mattel is hoping that Apple customers will be willing to spend as lavishly on their toys as they do their other electronic devices.
As of this writing, William White did not hold a position in any of the aforementioned securities.