A new report from market research company The NPD Group has found that 62% of toy purchases are planned and 77% of buyers who made a planned purchase said they knew specifically where they wanted to shop.
According to the new Toy Purchase Decisions report, 42% of toy purchasers looking for a specific toy said they would look for that same toy in a different store, and 9% would look online to purchase it if the toy they were looking for was not available. Only 22% of buyers claim they would look for a different product in the same store. The report also found that planned purchases yield higher price points than unplanned purchases (average price of planned purchases is 1.5 times higher than unplanned). For instance, categories with the highest price points, Building Sets and Youth Electronics, are two of the categories most likely to be planned.
Still, 38% of toy purchases are unplanned, with 70% of such impulse purchases coming from on-the-spot decisions. And while a child’s request for a toy is a main driver for unplanned purchases, pricing is the primary motivator to purchase. These latter numbers point to the importance of in-store signage, price reductions and packaging, says NPD industry analyst Anita Frazier.