Last year, the UK toy market saw nearly half of its sales come from toys priced under £15. While sales of toys and games fell 3.7% in value compared to the previous year, traders attribute this trend to parents being cautious with their wallets and seeking lower-priced gifts for their children. The rising cost of living has put pressure on consumers, causing them to seek out more affordable options.
Despite the trend of growing numbers of adults buying toys for themselves, the toy industry is continuing to feel the impact of an unsettled economic landscape. Retailers are turning to collectables as a way to attract buyers of all ages. Collectables are low-priced items that can be purchased multiple times, and many appeal to both children and adults.
The Squishmallows Plush 8″ Assortment remains the top-selling toy for the second year running, with a typical selling price of £8.50. Its popularity rose during the pandemic when people shared their collections on social media and talked about how the toys helped them feel calmer and less anxious. Toys priced under £10 made up 28% of the market.
Retailers are hoping that innovations such as mini or micro collectable items will help drive a rebound in fortunes at the British Toy and Hobby Association’s 71st annual Toy Fair, taking place in London over the next three days. However, the industry may continue to rely on adults buying for themselves as much as their children. Building sets such as Lego and nostalgic toys are also expected to sell well next Christmas.
The toy market saw a surge in sales during the Covid pandemic as more families spent time at home during lockdowns, but sales have since fallen. A declining birth rate, high cost of living, and fewer hit film franchises have also been cited as reasons for the decline in sales. However, there are still areas of increased spending across the UK toy sector
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