Target announced on Tuesday that it will have a limited release of the popular Hatchimals toy starting Sunday at stores across America. The retailer will sell the toy at $59.99 a piece.
According to a Target spokesperson, each store will receive dozens of the coveted toy that has been hard to find at retailers. Target is encouraging consumers to call their local Target to find out exact quantities .
If last Sunday's release of Hatchimals at Toys R Us stores are any indication, consumers should be prepared to wait in line. On Sunday, lines formed outside Toys R Us locations from coast to coast as every store had a limited release of the toy. Unfortunately, supplies went quickly at most stores, leaving parents in the cold.
"Beginning this Sunday, Dec. 11, each Target store across the country will be receiving dozens of Hatchimals ($59.99), with inventory popping up throughout the week," Target said in a statement. "You’ll need to be quick to scoop these up (limit two per guest) while supplies last, so be sure to check your local store."
If you are unable to land a Hatchimal next week, Target will sell Hatchimals-themed gift cards starting Sunday. The gift cars do not guarantee a Hatchimal, but allows children to pick up the toy when supplies are restocked in January.
In addition to Target's quantities, a Toys R Us spokesperson said on Monday that its stores are expecting replenish quantities of Hatchimals over the holidays.
The makers of Hatchimals said in a statement that it is expecting to increase supplies of the toy in January.
"This is a special season and we don’t want anyone to be disappointed, nor do we support inflated prices from non-authorized resellers," Hatchimals said in a statement. "While additional product will hit retail shelves in December, we anticipate this inventory will also sell out quickly. We have increased production and a whole new batch of Hatchimals will be ready to hatch in early 2017."
Because retailers have extremely limited quantities of the toys, eBay sellers are scooping up the toy and reselling at 2 to 3 times the retail value. While the typical retail price for a Hatchimal is between $60 and $70, auctions on eBay are going for more than $150.
One Illinois seller sold one such Hatchimals toy at auction for $164.50 on Thursday. Moments later, another Hatchimals toy went at auction for $173.
What are Hatchimals? It starts as an egg that needs to be nurtured. Once the egg hatches, kids can teach Hatchimals how to talk, walk and dance. You can also unlock games on Hatchimals.