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Toys & Games Market Report 2008
Key Note Publications Ltd, Aug 2008, Pages: 95
The UK market for traditional toys and games has experienced consistent sales growth since 2003, and was valued at £2.31bn by 2007. The main categories in the market are: infant/pre-school toys and games; activity toys; games and puzzles; outdoor and sports toys and games; dolls; action toys; vehicles; plush toys; and other products.
The market has benefited from a positive trading environment where an upturn in the birth rate has led to a rise in the child population. Although average family size increased in 2007, this was relatively marginal, and per capita spending on children remains high.
Brands and character licensed products continue to be major drivers of value within the market. Recognisable and relevant characters boost product appeal, and ambient promotional effects are gained from television and other media exposure. In addition, many properties have a relatively short time in the spotlight before children want to move on to the next property. The exceptions tends to be in established toy brands and in the infant and pre-school sector. In the latter case, children tend to develop out of the sector.
Competition for share of expenditure in the children’s market remains strong. As well as console, video and PC games and systems, there are other products that are high on children’s wish lists, from mobile telephones and laptops to fashion items.
The UK market is dominated by a handful of international toys and games groups, led by Hasbro and Mattel, as well as Bandai, Lego and Vivid Imaginations. However, a handful of UK-owned companies, such as Hornby and Halsall, retain a high profile. Below these is a tier of smaller groups operating successfully in particular product categories.
Retail distribution is also fragmented, with toys and games selling in a wide variety of outlets. Among the specialist groups, Toys R Us, Early Learning Centre and Disney Stores are among the market leaders. However, a number of smaller chains and independent toy stores supply the market. The Internet is also playing a bigger role, allowing consumers to browse, compare and have products delivered direct to their homes.
In 2007/2008, safety was a major issue in the toys and games market, with some adverse publicity arising from product recalls by some of the biggest producers. As a result, new international standards will be introduced.
The value of the toys and games market will continue to rise in the short to medium term. Although much of this growth will be driven by cost increases, the rising child population and ongoing investment by suppliers will also have a positive impact.
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