The Insights Family, has observed an increase in parental spending on gifts for children throughout 2024 and expects this trend to continue, consistent with the steady growth seen since 2021.
Research has found that from 2021 to 2024, monthly spending on gifts for children rose among parents of 1–16-year-olds by 35%, from £61 per month in 2021 to £82 per month in 2024.
The Insights Family’s research has also found that parents returned to the high street for their Christmas shopping in 2023, with shopping in town centres up 9% and city centres up 10% in Q4 2023 compared to Q1-Q3 2023.
The Insights Family is the global leader in kids, young adults, and parents’ market intelligence, delivering real-time data and insights into the attitudes, behaviours, and consumption patterns of the next generation of consumers and their families. Reaching nearly 800,000 family members across 22 countries annually, The Insights Family provides a voice to 60% of the world’s population and covers 85% of the global economy. Their client portfolio includes leading brands such as Amazon, BBC Studios, Disney, Finsbury Foods, Merlin, LEGO, Outright Games, Paramount, and Warner Bros. Discovery.
Tom Williams, CEO of The Insights Family, said: “Despite financial pressures, our Parents Insights data is clearly showing that toys are still an essential part of the Christmas magic in households across the UK”.
Data tracking experts Circana, estimate the UK toy market to be worth £3.4 billion in the 12 months to September 2024. Last Christmas £900 million was spent on toys, accounting for 26% of annual toy sales.
Circana provides global information and advisory services to drive better business decisions. By combining unique data assets with unmatched industry expertise, it helps clients track markets, understand consumers, and drive profitable growth. Sectors covered include consumer electronics, entertainment, technology, toys, and video games.
“Despite a backdrop of economic uncertainty, the UK toy industry is seeing a remarkable resurgence, driven by the ‘kidult’ trend and a demand for nostalgia-fuelled purchases,” says Melissa Symonds, Executive Director of UK Toys at Circana.
“With these nostalgic adults now accounting for 29% of spend on toys, and categories like building sets, plush toys, and collectibles taking centre stage, it’s clear that toys have a unique power to bring joy across generations.
“As we enter a pivotal final quarter, with December 25th falling mid-week, we’re set for a record-breaking season that captures the magic of play in both young and old alike.”
theinsightsfamily.com
www.circana.com
