Nearly half of toys offered below £15 as mother and father reduce prices | EUROtoday

Toys offered for lower than £15 accounted for practically half of the UK market final yr, as stress from the rising price of residing continued to bear down on customers.

Sales of toys and video games had been down 3.7% by worth on the earlier yr, business analysts Circana mentioned, as mother and father tightened their belts and sought out lower-priced presents for youngsters.

Despite the development of adults more and more shopping for toys and video games for themselvesmerchants mentioned total gross sales had felt the affect of an “unsettled economic landscape”.

Retailers are more and more pinning their hopes on collectables, interesting to adults and youngsters, that are low in value however can immediate a number of purchases.

The Squishmallows Plush 8″ Assortment, which typically sells for about £8.50, retained its position as the top-selling item for the second-year-running.

Squishmallows became popular during the pandemic when people shared their collections on social mediaand said that hugging the toys helped them to feel calmer and less anxious.

Toys costing less than £10 accounted for 28% of the market.

The British Toy and Hobby Association’s 71st annual Toy Fair takes place in London over the next three days, with hopes for a rebound in fortunes through innovation.

That will see further releases of mini or micro collectable items.

However, the sector may again be relying on adults buying for themselves as much as their children – with nostalgia and building sets such as Lego expected to sell well again next Christmas.

Sales of toys and games saw a big lift during Covid as more families spent time at home during lockdowns, but sales have fallen since 2021.

A falling birth rate, the cost of living and fewer big hit film franchises have been blamed for hitting the market last year.

Kerri Atherton, from the association, said: “These newest figures have undoubtedly been formed by the present unsettled financial panorama which is impacting folks’s spending throughout a variety of shopper items, together with toys.

“However, it is promising to see there are pockets of increased spend across the UK toy sector.”