The toy market continues to have issues around the world. Now the latest grim data comes from the UK and the “flagging toy market” goes down, the BBC reports.
In fact sales dipped 5% before the Christmas season. Overall they ended 2018 with 7% down compared to 2017, the NPD Group says.
During 2018 there were lots of issues. One of the main ones was the demise of Toys R Us which accounted for about 10% of the toy market in the UK. The Brexit uncertainty also doesn’t help.
“Losing a major retailer like Toys R Us played a pivotal role in the downturn during the early part of 2018, due to the discounting of stock,” she said. She described the effect as similar to the loss of Woolworths 10 years earlier”, Natasha Crookes, from the British Toy and Hobby Association (BTHA), says.
Collectables were one of the best sellers for the toy market, netting a 32% increase. That increase though is not enough to offset the overall decline.
Now retailers are also thinking about Brexit and ways to minimize its effect. So, 2019 probably is not going to be a much better year for the UK toy market.
