Hatchimals sold out 2016 news: Target to restock hot toy on Dec. 11

The holiday shopping season is now in full swing and it seems that one of the hottest gift items for kids this season are Hatchimals. The furry interactive toy from Spin Master has become the No. 1 item on kids' letters to Santa Claus leading to the product being sold out at almost all toy stores. Now, tons of parents are becoming desperate as they try to hunt down Hatchimals to give to their children.

Thankfully, Target will be restocking the hot toy on Sunday, Dec. 11. The retailer will be selling a new batch of Hatchimals for $59.99 with a limit of two per customer. For when their supplies run out, customers can instead avail of Hatchimal-themed gift cards. While this does not guarantee that one will receive a Hatchimal, it can be used to purchase the toy when more units arrive in late December and January 2017.

Given that the toy is highly in-demand, those looking to purchase Hatchimals over the weekend should expect long lines.

Hatchimals can also be purchased at online actions sites like eBay but they come with outrageous prices. According to reports, due to desperation, people find themselves paying anywhere from $175 to $300 and up just to get their hands on this particular toy. However, customers should proceed with caution as they may become victims of "bait and switch" scams and the like.

Spin Master has acknowledged the lack of supply and is working hard to produce more quantities of Hatchimals.

"We recognize that it may be difficult finding this in-demand toy. We have increased production and a whole new batch of Hatchimals will be ready to hatch in early 2017," Nancy Zwiers, chief marketing officer at Spin Master, told CNBC.

For parents who are unable to purchase a Hatchimal before Christmas, Spin Master is offering its own letter from Santa in order to bide time before the arrival of the new batch of Hatchimals.