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Toys & Games Market Report 2007
Key Note Publications Ltd, May 2007, Pages: 99
The UK market for traditional toys and games was valued at £2.16bn in 2006. Total sales have increased annually since 2002, although growth levels have been relatively low.
The market comprises nine product categories: infant/pre-school toys and games; activity toys; outdoor and sports toys and games; games/puzzles; dolls; action toys; vehicles; plush toys; and other products.
The market has been strongly affected by several factors. The number of children in the population is declining overall as the falling birth rates over the past decade are beginning to make an impact. Another factor affecting the market is the upturn in birth rate since 2003, which is having a positive effect on pre-school toy sales. However, products aimed at older groups are yet to benefit.
Suppliers also have to combat the widely documented trend of `kids getting older younger' (KGOY). Tastes are maturing and becoming more sophisticated at younger ages, reducing the available time slot for many products. Competition from other sectors, such as electronic games, mobile telephones, computers and fashion, must also be taken into consideration.
Toys and games are an international business with global brands. Most of the major companies source and distribute internationally so that they can benefit from economies of scale (not only in terms of costs but also with regard to marketing). The two largest toy companies are Mattel and Hasbro, both of which are in US ownership. These companies operate across most sectors of the toys market and own major brands such as Barbie, Action Man, My Little Pony and Fisher Price. UK-owned companies tend to be smaller in scale and include groups such as Vivid Imaginations and Hornby.
The presence of large international groups in the traditional toys and games market has allowed a high level of investment in brands and products. Established names have moved into new formats, such as DVD board games. The cross licensing of names from the media has also been an important source of new products, from Teenage Mutant Ninja Turtles to Roary the Racing Car.
Many brands and products have seen a rise in electronic content to more effectively target an increasingly sophisticated demographic. The use of interactive websites to encourage brand loyalty and interest is also developing.
The toys and games market has limited scope for growth in the current competitive children's market. However, the existence of strong brands and established companies in the sector is a positive indicator.
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