The “profit-harvesting machine” categories in the US market in the first half of the year have been released!

The “profit-harvesting machine” categories in the US market in the first half of the year have been released!

Recently , market research company NPD   Based on its tracking of the toy category in the U.S. market, the Group revealed the top-selling products in this category through its sales data in the first half of this year , and summarized the changes in Americans' toy consumption behavior .

 

According to NPD   According to data from the 2022 World Toy Industry Association, U.S. toy industry sales increased 2% ( $231 million ) to $ 11.4 billion from January to June 2022. Among them, unit sales fell 6% .

 

In addition, in line with the annual inflation rate in the United States, the average selling price of its toy category increased by 8% in the first half of this year to US$11.3 , compared with an increase of 19% and 6% in the previous year and last year respectively .

 

In the past two years, sales in the U.S. toy industry have increased by 18% and 20% respectively , repeatedly breaking sales records .

 

Juli, an American toy industry consultant   Lennett said that although the toy industry grew only 2% in the first half of this year , the momentum of this category in the US market cannot be underestimated , because among the 14 industries tracked by NPD, only 6 industries still achieved growth in the first half of this year after experiencing two years of growth during the peak of the epidemic .

 

Of the 11 major toy categories tracked by NPD, four saw sales growth in the first half of this year , and 10 major categories had a positive three-year compound growth rate compared to 2019 .

 

Outdoor and sports toys still occupy the top spot in the US toy market , with sales of $2.7 billion, while plush toys had the fastest growth in sales revenue, increasing by 43% to $ 301 million.

 

These data demonstrate the strong resilience of the U.S. toy industry in these uncertain economic times .

 

Multiple product categories are growing, with strong market driving force

 

In the plush toy category , Squishmallows, Magic Mixies and Disney toys were the main drivers of growth. In the first half of the year , seven of the 15 best-selling toys in the United States were Squishmallows .

 

The Discovery and Related Toys category grew 28% , with NBA, NFL and MLB sports trading cards leading the category’s growth .

 

Sales of dolls, figurines and accessories also showed a double-digit growth rate . With the release of "Jurassic World 3 : Domination" in June , sales of its peripheral toy products increased, ranking first in this category . The second largest category was Funko Pop! series toys and "Sonic the Hedgehog" peripheral figurines .

 

Building sets in the construction category grew 8%, with Lego Star Wars seeing the fastest growth , followed by Lego Creator Expert and Lego Technic .

 

Inflation continues, consumer toy spending changes dramatically

 

Through insights into American toy consumers , NPD also summarized the following four changes in consumer behavior.

 

In the US, demand for toys was also high among adults, with spending among households without children ( up 4% ) outpacing that among households with children ( up just 1% ) .

 

Affected by the current negative economic situation, higher-income American families have more purchasing power. Toy spending by families with an income of more than $100,000 increased by 6%, while toy spending by families with an income of less than $50,000 decreased by 2%.

 

At the same time, although Americans increased their toy spending, their purchase frequency decreased, which is related to the increase in product prices. And compared with previous years, Americans are more likely to buy toys online this year.

 

Currently, the U.S. toy buyer penetration rate has increased by 0.1%, an increase of about 155,000 buyers overall. Overall, buyer penetration has remained roughly flat throughout the year, but has maintained a significant increase in new buyers over the past few years , with nearly 16 million more buyers in the toy industry compared to 2019 .

 

Juli   Lennett said that although US consumers have reduced their consumption due to the financial crisis , the toy industry is expected to continue to outperform other industries in the second half of this year .

USA

Toy

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