Toy Shoppers Know What They Want
Playthings Staff -- Gifts and Dec, 12/8/2010 2:04:35 PM
Port Washington, NY - The majority of toy purchases, 62 percent, are planned, with buyers setting out knowing what toy and/or where they were going to purchase, according to Toy Purchase Decisions, the latest report from market research company The NPD Group. More than three-quarters of buyers (77 percent) who made a planned purchase said they knew specifically where they wanted to shop.
Some 42 percent of purchasers looking for a specific toy said they would look for that toy in a different store if it was not available, and 9 percent would look online. Only 22 percent would look for a different product in the same store. "The fact that there is less substitution of another item if the original item isn't found is a real wake-up call for retailers," said Anita Frazier, NPD Group industry analyst. "Picking the right product selection and then managing the inventory to keep those items in stock is more important than ever before."
Of the remaining 38 percent of toy purchases which were not planned, 70 percent are the result of on-the-spot impulse decisions. Of the rest, 21 percent were talked into the purchase by a child, while 9 percent remembered they needed to buy a toy after they were already in the store. Said Frazier, "Pricing is utmost in the decision to make an impulse purchase."
The average price of planned purchases is 1.5 times higher than unplanned.
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