The U.S. toy industry grew 6 percent, or $206 million, in the first quarter of the year compared to the same period in 2015, according to The NPD Group. Out of the 11 supercategories within toys, eight of them posted gains, with Action Figures and Dolls experiencing the highest dollar growth.
Major holidays were among the top reasons for first quarter growth. Sales during the week of Valentine’s Day grew by 9 percent, and Easter week by 6 percent, compared to the first quarter last year. The most popular types of toys during the Easter period fall within the Outdoor & Sports supercategory. The dollar share of all these categories is nearly twice as high during Easter week compared to the average for the rest of the year.
“Toys have become the new chocolate. Looking at the top 10 items that sold during Easter week, most are very small in size, likely so they may fit in an Easter basket,” Juli Lennett, senior vice president and U.S. toys industry analyst from The NPD Group said. “These items are also smaller in terms of price point; the average retail price of a toy for Easter was 38 percent less than the average price of a toy in 2015. Each holiday and spending occasion is unique, and given these ebbs and flows, it’s important for retailers and manufacturers to be in sync with how consumers are shopping and spending during key points throughout the year.”
