The Covid-19 global outbreak has put about half of the world’s population into some form of a lockdown or stay-at-home requirement. And toys are making bank on this fact.
Latest data from the NPD Group’s Weekly Retail Tracking Service, quoted by The ToyBook, shows exactly that. It seems toys are making a big revenue gain during the quarantine times.
“Consumers have prepared for their family’s survival over an extended period by stocking up on the basic necessities, but as schools and workplaces closed, phase two of the big scramble began,” says Juli Lennett, NPD’s toy industry advisor. “U.S. parents loaded up on things to keep their kids occupied at home, help them navigate their new homeschooling situation, and to also be a source of entertainment for the whole family as we spend more time at home.”
As a result, several toy categories are recording booming sales. Among them are board games and puzzles which net a 228% sales increase.
Next up are the building sets with a 76% jump in sales. Arts and crafts also join the sales spike with a 70% jump. There’s also a 20% increase in sales for outdoor and sports toys for those who have houses and yards.
Since the stay-at-home orders are likely to continue into April, the expectations are for more sales increases. “Parents are likely seeking stability for their kids by maintaining Easter traditions and also buying ahead,” she says.