Sales of toys and games are forecast to rebound from a sharp decline in 2022, with a return to growth over the forecast period, despite ongoing inflationary pressures and economic uncertainty. Video games account for two thirds of total toys and games sales, with growth being fuelled by the surging popularity of e-sports and streaming platforms like Twitch. While video games will continue to dominate, traditional toys are expected to see modest growth over the forecast period.
This report comes in PPT.
Pop culture is driving toy sales, with films like Barbie and Super Mario boosting sales for Mattel and Nintendo. Toymakers are capitalising on kidults’ nostalgia for childhood characters with new products and collaborations.
Companies are trying to maximise profitability by refining their existing product offerings and targeting new consumer segments for revenue growth.
Toy companies are expanding their focus on high-growth emerging markets like Brazil to offset slow growth or declines in key toys and games markets like the US.
Toy companies are adopting AI to enhance product development, shorten time-to-market, and create more engaging, personalised offerings to drive growth in a challenging market.
Rising costs are forcing consumers to seek creative ways economise, and they are becoming more selective in their spending on toys, favouring those that offer greater value.
This is the aggregation of traditional toys and games and video games.
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