Value sales of traditional toys and games in Western Europe grew in 2021, driven by the need for entertainment due to the prolonged COVID-19-induced social distancing measures and home seclusion. The expansion of the consumer audience, with adults being targeted due to their higher disposable incomes, helped fuel growth in the industry.
This report comes in PPT.
Toy sales surged in Western Europe in the latter part of the review period, as housebound families and friends spent more time together, and purchased more traditional toys and games for entertainment. Activity-based toys, like construction sets, and games and puzzles, were favoured the most, due to the increased need for group/social activities.
The consumer group referred to as “kidults” has become the most significant demographic in terms of value sales of traditional toys and games in Western Europe. Due to pandemic-induced boredom and nostalgia, “kidults” turned to (expensive) toys to keep themselves entertained.
LEGO Group continues to lead sales of traditional toys and games in Western Europe, due to very high brand recognition in the region and its efforts to innovate and attract new consumers. The company has expanded licensing partnerships and made progress in terms of sustainability and inclusivity, launching new products that appeal to environmentally and socially conscious consumers.
Toy makers are increasingly incorporating sustainability and inclusivity into their business strategies. As consumers in Western Europe favour greener and more socially-responsible practices, toy makers are responding by developing socially-conscious and eco-conscious products, and phasing out plastic in both toys and packaging.
As the pandemic recedes, consumers are resuming their on-the-go lifestyles, with more options for out-of-home entertainment and travelling, which in turn reduces the need for toys. Moreover, a gloomy economic outlook, ongoing supply chain issues and a high-inflation environment will hinder growth in the toys market, as consumers become more cautious in their spending, cutting expenditure on non-essential goods.
This is the aggregation of traditional toys and games and video games.
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