Is the toy industry in hibernation?

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Is the toy industry in hibernation?If you’re following toys closely, you’ve probably noticed that there’s significantly less toy news than usual. So, this begs the question why?

The last a couple of months have definitely been quite challenging for the world. It’s all because of the global coronavirus outbreak which caused a lot of changes everywhere.

One of them is a big change in manufacturing. Many companies had to close down their factories for a while. Others saw the economic decline coming and took measures for it such as scaling down. And some decided to help out and refocused their manufacturing for medical supplies instead.

Then we have all of the additional changes and measures that were put in place. They meant more remote work, no traveling, closed stores and so on. All of this results in less demand in the long run.

Initially there was a spike in sales of toys as people were confined to their homes. But they bought mostly already available toys. And after that initial buying spree, now there might be a slow down. Especially if the stay-at-home recommendations and especially if the economy is still in a slump.

So, it’s no big surprise that there haven’t been many big toy news lately. And there’s no real answer on how long this will continue. It may take longer than expected or it may return to relative normality soon. Either way, it’s going to be an interesting summer for everyone, toy industry included.