The U.S. toy industry grew 7.5 percent in the first half of this year, outpacing last year’s mid-year and annual growth rates, according to The NPD Group. NPD estimates that the industry will grow approximately 7 percent, or $1.4 billion, for full-year 2016.
The U.S. Senate unanimously passed legislation reforming the Toxic Substance Control Act (TSCA) on June 7, according to the Toy Industry Association (TIA). The bill, which is now awaiting signature by President Obama, marks Congress’ first major update to the legislation in 40 years and represents a major victory for the toy industry.
TIA will host an educational webinar to explain how the TSCA reform impacts toy companies’ chemical use management program. The webinar will take place on Thursday, June 16th from 2:00 to 3:30 p.m. (EST), registration is now open.
Once President Obama signs the bill into law, the Environmental Protection Agency (EPA) will begin the process of prioritizing chemicals and taking necessary steps to review them. TIA intends to stay engaged with EPA in order to find opportunities to participate in the development of future rules and regulations impacting the toy industry.
U.S. toy sales grew 6.7 percent in 2015, according to retail sales data from The NPD Group, generating $19.4 billion and marking one of the strongest performances the industry has seen in a number of years.
Nine of the 11 super-categories posted gains in 2015. Games/Puzzles and Vehicles grew the fastest at 10.8 percent and 9.7 percent, respectively, followed by Building Sets and Outdoor & Sports Toys. Outdoor & Sports Toys and Dolls had the largest dollar gains followed by Building Sets and Infant/Toddler/Preschool Toys. Star Wars was the number-one absolute dollar growth contributor to three of the super-categories: Action Figures, Vehicles, and All Other Toys. [Read more...]
The Toy Industry Association (TIA) will kick off its 100th anniversary celebrations on September 17 with a ribbon-cutting ceremony at the new Toy Halls of Fame Exhibit at The Strong National Museum of Play in Rochester, New York. The event will honor contributors to the toy industry’s evolution and success, including a number of TIA members.
The Toy Industry Association (TIA)’s Shifting Channels: Strategies for Growth in the Toy Industry webinar is scheduled to take place on August 6 from 2 to 3 p.m. ET. It will highlight key findings from a Vanderbilt University study on distribution channel trends in the toy industry as well as potential pathways to success.
The Toy Industry Foundation (TIF) has released its 2014 Annual Report. Thanks to toy donations and financial contributions from individual and corporate supporters, TIF was able to serve nearly 5 million kids, and reach 56 percent more kids than during the previous year. Another milestone was met in 2014: More than $100 million worth of toys have been donated to The Toy Bank, TIF’s signature program, since the program’s inception in 2003. Just under $19 million in toys were donated last year.
According to a new report from the Toy Industry Association (TIA), the U.S. toy industry supports more than 491,000 jobs, generates $24.51 billion in wages, contributes $9.93 billion in combined state and federal taxes, and has a total annual economic impact in the U.S. of $76.71 billion. Nearly 98 percent of U.S. toy manufacturers, wholesalers, and distributors are small businesses.
Last week, Spielwarenmesse enjoyed an increase in the number of international visitors, which rose to 58 percent, as reported by Spielwarenmesse eG. Around 72,000 trade visitors were present in Nuremberg this year, along with a total of 2,857 manufacturers from 67 countries, up from 2,748 last year. [Read more...]
According to the Toy Industry Association (TIA), a record-breaking 58,000 consumer votes were cast online during the voting period for the 15th annual Toy of the Year (TOTY) Awards. Toy lovers of all ages visited www.toyawards.org between Thanksgiving and mid-January to vote for their favorite toys, games, and properties across 12 categories, including activity, educational, innovative and outdoor. [Read more...]