Data from NPD shows that toy sales in the UK are down 8% so far this year. This is worrying for retailers as about 30% of annual spending on toys comes around Christmas. People usually spend an average of £86 per toys for kids up to the age of 11 years old.
The data isn’t much different globally. It shows a 3% downturn of sales so far this year.
There are plenty of reasons for that. Some are the obvious ones like Brexit and the economical uncertainty. Other reasons are the rise of online shopping. It means people go less and less to the stores where they can get a one on one experience with toys. Often people decide on the spot if they want a toy or not, after seeing it in person.
When you shop online, that can’t happen. So, people buy less toys. “You do not get the same Willy Wonka-type excitement on the internet as children do in a toy shop,” said Gary Grant, who chairs the committee which selects the 2019 DreamToys list of “must-have” toys to the BBC.
Add to that the chance the retailers may have ordered a lot more toys than expected. The reason for that would be the big positive excitement earlier in the year that the market will be more active.
So, the competition is going to be quite big. This could lead to better deals, bigger discounts and more interesting options for buyers.