Eighty-five percent of the toy industry’s growth during Thanksgiving week came from price points over $20, according to Juli Lennett, senior vice president, industry analyst; Toys of The NPD Group. The strongest dollar growth came from toys priced more than $70.
Outdoor and Sports Toys were the top two supercategories driving growth. Blasters/foam shooters and accessories, and skates, skateboards, and scooters drove most of the growth. In addition, with the hoverboard issues resolved, there is explosive growth with these items, says Lennett.
The higher priced toys trend is due to the toy industry experiencing growth over the past couple of years and manufacturers and retailers being more open to investing in new ideas and taking risks, according to Lennett. In addition, retailers have become more bullish to higher price points and parents are willing to pay for the more climactic moment on Christmas morning. Parents and family members seek a big reaction from kids when they open their present, and want to film, photograph, and share these moments on social media for their family and friends to see.
