The Toy Industry In Lockdown

With shops across England reopening for business (albeit in a much more restricted manner) from Monday 15th June 2020, retailers across the country are praying for sales and normality to return.

The UK toy industry, estimated to be worth over £3 billion, suffered in similar ways to many other sectors, with the huge impact of store closures, furloughing of staff, and the stress of moving operations online – forcing companies to diversify to survive.

But with the sun seemingly on the horizon, now may be the time to invest hope back into the industry. Lockdown may have been a colossal nightmare for many, however, there are now statistics to show room for optimism.

So what should we be investing in?

To find the answer to that million pound (or even billion pound) question, we need to take a look at what has been the hot products of lockdown life.

Firstly, it will come as no surprise that sales in the industry slumped over the last few months. Stores being shut and customers incomes shrinking, meant this was an inevitability from the start.

Yet when looking at the sales of toys during lockdown, there is the interesting stat that the average price spent on a toy increased from £8.07 to £9.65 – a rise of nearly 20%.

People are still buying toys, and figures such as these show that retailers may be able to hit the ground running when they reopen…if they invest in the right products.

Games and puzzles have also seen their sales rise by a massive 43% in the first six months of 2020 compared to the same time period last year. Children being at home has required more ‘hands-on’ toys, with jigsaws proving a particular hit in households up and down the country.

Likewise, with the hottest May on record just finishing, it can come as little surprise to see a 31% increase in outdoor toy sales. Long days in the garden are made all the better with the addition of a few must-have toys.

Kids toys

We must also remember that there will be more people returning to work – seeing their incomes return to normal levels – which will mean more expandable income and the potential for retailers to see sales rise even further.

So, on to the future. With the country beginning to return to some sort of ‘normal’, what will be the next big hit for toy retailers?

We’ve already discussed the rise in popularity of puzzles, games and outdoor toys, and with children still at home, alongside more hot weather in the pipeline, it seems likely that these trends may continue into coming weeks and months.

There is also one further interesting stat that comes from looking at the ‘collectable toys’ market.

A huge hit in recent years, the sales of these products has fallen by a whopping 29% during lockdown (when comparing May 2020 figures to May 2019).

Whether this market is now set for a bounce back is yet to be seen, yet with popularity rising year-on-year recently, there are certainly signs of hope for the collectables market.

You can read more about the impact of Coronavirus on the Toy Industry in this BBC article

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The Toy Industry In Lockdown
Article Name
The Toy Industry In Lockdown
Description
The UK toy industry, estimated to be worth over £3 billion, suffered in similar ways to many other sectors, with the huge impact of store closures, furloughing of staff, and the stress of moving operations online – forcing companies to diversify to survive. But with the sun seemingly on the horizon, now may be the time to invest hope back into the industry. Lockdown may have been a colossal nightmare for many, however, there are now statistics to show room for optimism.
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Kidz Gifts Wholesale
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