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PRESS RELEASE
CONTACT: Pam Danziger, 717-336-1600
TOY RETAILERS GENERATE $30.1 BILLION IN SALES IN 2001
More than half of U.S. households bought toys, dolls or games in the past year
Stevens, PA May 3, 2002 - After rising 8.5% in 2000 to reach $28.7 billion in sales, the toy industry continued its upward spiral in 2001, rising 5.1% over previous year's level to reach $30.1 billion in sales, according to a new market research report, The Toy Retailer Report, 2002: The Market, The Competitors, The Trends, published by Unity Marketing. Prepared to help toy marketers and retailers succeed in the current retail market for toys through market-specific information, the report provides the latest statistics on toy retail sales and growth. "American parents and grandparents today can't do enough for their kids and grandkids. That's the simple reason behind the continuing growth in the toy market. Our latest survey shows household purchase incidence of toys reached 54% in 2001, up from 45% in 2000," says Pam Danziger, president of Unity Marketing and author of the new book Why People Buy Things They Don't Need (Ithaca, NY: Paramount Market Publishing, 2002). "The toy market is benefiting not just from sales of play toys for kids, but more and more adults are buying toys as collectibles. After all collectibles are really only toys for adults."
The retail market for toys has enjoyed many years of steady growth as the baby-boom generation progressed through their childbearing years. But in 2002 with the leading edge of the baby boom generation reaching 56 years old and the trailing edge now 38, the toy industry is facing challenging times ahead as the target market's demographics shift. "From now until 2010 the GenXer generation which is much smaller than the boomer generation, will be having and raising families. The actual number of households in the prime toy purchasing years, from 35-to-44, will decline by 14%," Danziger explains. "But after the year 2005 we will begin to see the Millennial generation, the boomer's generation of children born after 1976, having babies. With the Millennial generation almost as big as the boomers, there will be a pickup in demand for infant and preschool
toys through the end of the decade with an expected boom in demand for toys for all ages after 2010."
Changes in the way toys are sold at retail will also challenge the toy marketers in the next decade. General merchandisers, including Wal-Mart, Kmart and Target, today account for roughly 43% of the total toy market. The toys they sell tend to be mass-market oriented and heavily supported by television advertising. At the other end of the spectrum are small specialty retailers who sell more highly specialized toys that appeal to a more sophisticated customer searching for toys that will enhance creativity and imaginative play. "While the much larger Toys "R" Us captures most of the press, the Right Start company now is becoming a major force in toy retailing with their recent acquisition of 23 FAO Schwarz stores, arguably the most prestigious name in toy retailing today, and the operation of over 60 Right Start stores and some 187 Zany Brainy stores, all targeting high quality infant and children's goods with an educational twist," Danziger says.
Enhancing the value of this report are the results of a telephone survey conducted among 130 specialty toy retailers nationwide. With 80% of the survey sample representing stores with a single store location, the retail survey reveals how the smaller specialty toy retailers are confronting the competitive challenge from mass merchants, the "big box" toy retailers and other chains. Among the stores surveyed, about 70% of total sales are attributed to toys with games and puzzles, activity toys and infant/preschool toys commanding the largest share of retailer sales.
This new research report, The Toy Retailer Report, 2002: The Market, The Competitors, The Trends, examines in detail the market for toys, including video games, activity toys, dolls, infant/preschool toys, vehicles, games and puzzles, plush, ride-ons, action figures, and all other toys. Eight key consumer trends that are shaping the toy retail market of the future are identified. The report details industry sales by segment, leading categories, distribution channels, growth trends and projections. The report contains marketing profiles of some of the leaders in the industry, including AC Moore, Discovery Toys, Hobby Lobby, KB Toys, Right Start, Toys "R" Us, Action Performance, Boyd's Collection, Department 56, Enesco, Hasbro, Jakks Pacific, Mattel, Middleton Dolls, Racing Champions, Vermont Teddy Bear and Zindart. Published by Unity Marketing, this 150+ page report is available from Unity Marketing for $1,250, NOW $625. Unity Marketing is a marketing consulting and research firm specializing in understanding consumer drives and motivations and their impact on shopping behavior. For more information, contact Pam Danziger, Unity Marketing, 188 Cocalico Creek Road, Stevens, PA 17578; telephone (717) 336-1600; fax (717) 336-1601; Web site: www.unitymarketingonline.com. For more information on Pam's upcoming book, Why People Buy Things They Don't Need, see www.whypeoplebuy.com
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