Friday, August 12, 2016

Report: 'Star Wars' Drives Healthy Mid-Year Growth in Toy Aisle

"The spike in outdoor toys is an example of millennials’ penchant for experiences over stuff spilling over into parenthood—a clue for toy retailers preparing for the holidays."

After slumping in recent years, toy sales are booming, and movie, internet, and television tie-ins are a big part of that. But consumers’ priority of spending money on experiences over stuff is also driving the growth, as outdoor toys dominate sales.

“I expect to see continued growth for the U.S. toy industry for the remainder of 2016 and, if it reaches 7% for year-end, that would be the fastest growth of the U.S. toy market since 1999,” NPD U.S. toys analyst Juli Lennett said in a statement. “Toys with movie tie-ins will continue to contribute to the increase, stemming from those released both in 2015 and 2016. Television, over-the-top and other content providers, like YouTube and social media, will also continue to drive growth.”...

Read the entire article courtesy of Retail Dive:

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