Wednesday, February 21, 2024

Toy sales fell 7% in key global markets

Circana has published 2023 toy sales figures for the markets that make up the G12: Germany, Australia, Belgium, Brazil, Canada, Spain, the United States, France, Italy, Mexico, the Netherlands, and the United Kingdom.

According to Cricana data, in the G12 as a whole, which includes Germany, Australia, Belgium, Brazil, Canada, Spain, the United States, France, Italy, Mexico, the Netherlands, and the United Kingdom, toy sales decreased by 7% in 2023. compared to last year, although they were 17% higher compared to the pre-pandemic period of 2019. Likewise, in their report, they also emphasize that in 2023, the average sales price increased by 1% year-on-year and increased by 18% compared to the previous year. 2019.

Of the supercategories analyzed by Circana, only two of the eleven toy supercategories experienced a one-year increase in sales within the G12, with construction in first place in terms of sales growth (+4%), followed by stuffed animals (+3%). The strategic trading card games and vehicles also saw an increase, with these four subsegments growing for the fourth year in a row.

In terms of licensing, licensed toys represent 31.1% of the total toy market, highlighting the importance of characters and franchises continuing to drive sales. Pokémon retains its crown as the best-selling toy worldwide, followed by well-known classics such as Barbie, Star Wars, Marvel Universe, and Hot Wheels. In particular, Lego Icons became the best-selling product, reflecting the trend of toys aimed at older consumers or kids.

Frédérique Tutt, global advisor of the toy industry at Circana, commented that “with inflation at the highest level we have seen in decades and the birth rate at its lowest point in many countries, the global industry in the toy industry faces new challenges in 2023. Consumers in many regions will have to make difficult trade-offs and reduce their spending on toys and games. “We see different regions that reacted differently to these economic challenges, with Europe contracting back to 2019 levels while US sales remained 26% higher compared to 2019.” Likewise, Tutt is confident that “while developing economies, the industry should see some respite in 2024, especially as the flow of new products and innovations reintroduces the element of surprise and encourages engagement. This should help boost sales. “

World Nation News Desk
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