Toy sales take a tumble
By Laura Enfield | 25th January 2023
Toy sales fell last year as cash-strapped parents resisted impulse buys and left smaller items on the shelf, reports the BBC.
The number of toys and games bought fell by 6% compared with the previous year, according to analysts NPD.
Toys under £10 accounted for three quarters of the drop in sales as shoppers resisted children's pester power at the tills, ruling out small and unplanned purchases.
Instead, parents typically splurged on toys costing £30-50 with a third taking the time to hunt for the best price online and in-store before handing over their money in the run-up to Christmas.
Melissa Symonds, executive director of NPD, said parents facing rising bills and prices had become very price savvy, seeking out "choice and value".
In-store sales accounted for half of last year's total, up 6% on the previous year, owing in part to concern over delivery disruption and there being a full shopping week before Christmas Day which fell on a Sunday.
The average price of a toy is £10.54 and among the most popular items were soft toys - such as Squishmallows - building sets, action figures and vehicles.
Parents also increasingly bought toys and games for themselves.
Ms Symonds said that these so-called kidults may have been spending their limited disposable income on puzzles rather than nights out.
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