How toy sales are faring this holiday season
Toy sales are expected to be a bit ho-hum this holiday season. That’s after consumers bought way more toys than usual during the pandemic, while many people are now prioritizing experiences instead of things.
During the first two years of the pandemic, toy sales in the U.S. grew by around 30%, pointed out Andrew Uerkwitz, an analyst with Jefferies.
“The issue is people overbought toys. And so parents are saying, ‘Hey, I bought you a lot of toys, keep playing with all those old toys,’” he said.
Families are also spending more time on vacation, at football games and concerts, which means less time for playing. “And if you have less time to play, you have less need for toys,” Uerkwitz said.
At Child’s Play Toys and Books, a store in Washington, D.C., they’re making the case for new toys by letting people try them first. Store director Erica Card shows off a toy called Air Toobz. She turns a dial, air blows through a plastic tube and a ball comes out.
“Watch out!” she said, chuckling.
When customers try these things out, they’re more likely to know if they want to buy them. The store is also partnering with local pediatricians who give their patients $10 off coupons. It’s all an effort to bring people in during the holidays.
“Because you know, S-A-N-T-A, he hears what’s happening in the store and what kids ask for. So we’re his little helpers,” Card said.
Close to half of the store’s annual sales take place this time of year, she added.
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