Both the indies and larger chains – following the COVID-19 misery, according to data from The NPD Group
In fact, they’re returning in such numbers to stores such as The Entertainer, Smyths and Hamleys, as well as independents, both on the high street and out of town, that specialist toy retailers is the fastest growing retail channel.
The data from NPD, which recently merged with Information Resources, Inc, said that the specialist channel has grown by more than 44% this year.
The Consumer 360 Toys analysis further noted that online’s share is still higher than pre-pandemic levels, Internet purchases have fallen by 20%, while in-store sales have grown by 9%. Toy specialists are now the joint largest channel along with online-only retailers, accounting for almost a third of sales in the year to end of June. Sales value has grown ever month.
It’s great to see people returning to physical toy stores and especially to the Toy Specialists who are the experts in the category.
NPD executive director for UK Toys Melissa Symonds
Parents are driving much of the return to stores, while they still make up almost half of all toy sales, more than half, 55%, of toy sales to parents came in bricks and mortar stores, up 8%. Grandparents and other family members are buying less – minus 18% and 5% respectively – suggesting that the cost of living crisis and other financial fears ae preventing spending.
NPD executive director for UK Toys Melissa Symonds said: “It’s great to see people returning to physical toy stores and especially to the Toy Specialists who are the experts in the category. There is nothing like the experience of seeing, hearing, and touching toys making it a fun shopping outing to visit a store and see what’s new in this highly innovative category. These retailers also have a wide choice offering shoppers the chance to discover something new and exciting along with the expertise of staff who spend all day among toys.
“With a squeeze in our household incomes reducing spending power, many consumers will be counting every penny. In previous recessions, we’ve seen that although parents continue to find the funds for the toys their children really want for Christmas and birthdays, other relatives such as grandparents cut back on their spending on toys. We’re already recording this trend in 2022 and would expect it to last well into the festive season. Toy retailers and manufacturers have experienced these circumstances before and will be planning how they respond in the run-up to the festive period.”
