U.S. toy sales surge 27% in first quarter

The U.S. toy industry had a strong first quarter of 2021, with sales surging 27% to about $1.5 billion between January and April, according to The NPD Group.

It is reported that both sales and average selling prices in the U.S. toy industry increased in the first quarter , by 17% and 9% respectively.

The largest super category tracked by NPD, outdoor and sports toys, reached $1.6 billion in sales, with "plush toys" seeing the fastest sales growth at 44%.

"As we head into 2020 lockdown, super categories that saw strong growth last year, such as games and puzzles, appear to be slowing," said Juli Lennett, vice president and industry advisor for U.S. Toys at The NPD Group, in a press release. "However, it is important to recognize that sales of games and puzzles remain strong in 2021, as reflected in a two-year compound growth rate of 34%, the fastest growth of any super category compared to 2019."

Of all 96 categories tracked by NPD, strategy trading cards were the category with the most dollar growth, driven in large part by Pokémon, which was the fastest-growing property so far this year.

"We cannot underestimate the impact that federal stimulus payments will have on the toy industry's performance this year , and along with them will be the child tax credit, which will deliver cash to parents every month starting in July through the end of the year," Lennett said in the release.

It is reported that the United States has launched an "American Family Plan" for children and students , and the children of low- and middle-income parents in the country can receive subsidies. Specifically, children under 6 years old receive $3,600; children aged 6 to 17 receive $3,000. Currently, families across the United States who are eligible for monthly child tax credit payments have begun to receive letters from the Internal Revenue Service (IRS).

That is, families with children in the United States will receive a monthly payment of between $250 and $300 per child . The payment will start in July (next month) and will last until December.

With the issuance of child tax credit subsidies and federal economic stimulus in the United States, it is believed that the country's overall consumption will increase not only in the toy industry.

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