BBC
A Stitch puppet (left) with Wow Stuff's Richard North at the DreamToys event
Toy sales fell for the third year in a row due to squeezed family budgets. But adults are buying their childhood favorite toys to escape their problems, a study suggests.
The declining birth rate, cost of living, and fewer successful film franchises combined to cause sales value to decline 3% from the previous year.
But sales to “kids” have increased, with one in five toys and games now bought by people over 18 for themselves, according to toy industry research group Circana.
This suggests adults are buying Lego and collectibles for their “positive mental health benefits, as they spark nostalgia and provide an escape from global turmoil,” said Melissa Symonds, executive director of UK toys at Circana.
Cars and planes still on top
The Toy Retailers Association has revealed its annual list of 20 products it hopes to sell this Christmas. The DreamToys list is compiled by a panel of retailers and experts.
Alongside some familiar names on the list, such as Hot Wheels cars and the Paw Patrol bulldozer, there are toys clearly aimed at different age groups.
For youngsters, a Fart Blaster makes the kind of noise its name suggests, while a McLaren F1 car Lego set is probably aimed at an older audience.
McLaren F1 car Lego set expected to sell well to adults
According to Circana, transportation remains the most popular theme among toys, but animals now take second place, with interactive pets becoming increasingly popular. These dolls now demand to be stroked, played with and can repeat words.
With family finances strained, the price range for the 20 toys on the list fell between £9.99 and £89.99.
Key Christmas period
The UK toy industry had a turnover of £3.4 billion in the financial year ending September, according to Circana.
The sector is now entering the crucial holiday period, six weeks before Christmas, as retailers focus on Black Friday and encourage people to enter physical stores as well as visit their websites in the run-up to December 25.
Christmas Day falls on a Wednesday, which is generally seen as an advantage for stores. However, the Toy Retailers Association said sellers would face cost pressures in future due to the increase in employers' national insurance announced in the Budget.
Sales of toys and games saw a big increase during Covid as more families spent time at home during lockdowns, but sales have fallen since 2021 and are currently just below 2019 levels, according to Circana.
The average price of a toy last December was £12.95, while more than six times that amount was typically spent on toys for children aged under 10 at Christmas.
