NPD: Toy sales held steady thru September
By Staff -- Gifts and Dec, 11/18/2008 1:50:00 PM
PORT WASHINGTON, N.Y.—Despite a worsening economic downturn through 2008’s first three quarters, U.S. toy sales during the period, worth $11.89 billion, were essentially flat compared to the first nine months of 2007, according to The NPD Group.
That performance has NPD’s prognosticators predicting the U.S. toy industry will tally $22 billion in annual sales when 2008 is all said and done, a result that would most likely match 2007’s $22.1 billion sales total, if not exceed it.
“Our Consumer Spending Indicator study reveals that when thinking of where they'll cut back their spending due to the current economic climate, spending on toys is one of the least mentioned categories,” said an NPD representative of the thinking behind its forecast. “Even in times of duress, and maybe particularly in difficult times, parents want to please their children during the holidays and toys are always one of the most ‘wished for’ gift categories.”
Among the industry’s best performing product categories in year-to-date sales through the end of September on an average per week basis were plush (up nearly 41 percent), building sets (up nearly 35 percent), games and puzzles (up 7 percent), arts & crafts (up 4 percent), and action figures (up 1.2 percent).
Helping the industry’s bottom line was a continuing acceleration in sales of web-connected toys, which more than doubled compared to the first nine months of 2007 to a value of just under $312 million. Sales of board games were up nearly 12 percent during the period to $323 million.
Other segments of the toy market weren’t nearly as rosy. Toy vehicle sales were off 15 percent year to date; dolls and youth electronics were both down nearly 9 percent; infant/preschool toys were slipped 1.3 percent and outdoor/sports toys slowed by 0.6 percent. The catch-all “all other toys” segment dropped more than 5 percent compare to where it was at the end of 2007.
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