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Toys & Games Market Report Plus 2010
Key Note Publications Ltd, Aug 2010
The UK market for traditional toys and games enjoyed year-on-year growth until a decline in revenues in 2008, followed by a deeper fall in 2009. The market comprises ten categories of products: action, activity, dolls, electronic, games/puzzles, infant/pre-school, outdoor and sports, plush, vehicles and other products.
The market has been affected by a number of factors. The number of children in the population has begun to increase as the impact of the rising birth rate since 2003 is beginning to be observed. The average age of mothers at the time of birth had also risen to 29.5 by 2005, up by a whole year from 1995. The toys and games market is benefiting from increased levels of spending per child, as a result of rising disposable income levels and the more advanced age of new parents.
Less positively, toys and games have to compete with an expanding range of other products which target spending in the children’s market. This is led by PC- and console-based electronic games, but also includes laptops and computers, mobile phones and a large range of additional products. As children continue to be targeted by more adult products at a younger age this becomes a more significant challenge.
Sales in the market declined in 2009, reflecting the downturn in the wider UK and global economies. Retail competition has helped to keep prices lower, with the supermarkets offering toys as loss leaders and Internet operation comparisons bringing increasing transparency to the market.
Toys and games are an international business with global brands. Most of the major companies source and distribute internationally to benefit from economies of scale, not only in costs but also marketing. The two biggest toy companies are Mattel and Hasbro, both of which are US owned. Other major groups include Lego, Tomy, Mega Brands and Hornby.
The toys and games market is active, with suppliers constantly bringing new products to the market. Character merchandising, television link-ins and film ties continue to be key aspects of new product development (NPD). An increasing number of products are also utilising electronic aspects to increase playability. Responsive and interactive toys have seen strong investment, and interactivity with other media such as the Internet and television is set to increase.
The toys and games market is in line to recover from 2010; early company results for the first quarter indicate a more positive performance. The rise in the under-10s population and the eventual economic upturn will drive growth in sales.
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