In the lead-up to the holiday shopping season, The Toy Association is reporting that 69% of US parents are planning to reduce spending on other parts of their Christmas budgets in order to ensure that their kids have the latest toys on the market. This data is based on a survey of 1,000 American parents conducted by Virginia-based polling firm Wakefield Research.
While they’re trying to keep overall spending in check this holiday season, parents are prioritizing purchases that spark joy in their families, says Adrienne Appell, Toy Association EVP of marketing communications. And dads represent the biggest soft spot, with 73% saying they would reduce spending elsewhere to free up budget for new toys, compared to 62% of moms.
The majority of parents (56%) will be in the toy aisles looking for products that promote or teach skills related to mental, emotional or social health in order to help improve their child’s well-being. And this is even more pronounced for parents under age 40 (64%). The next most-desirable toy characteristic is sustainability/pass-down potential (50%).
Kids aren’t the only family members likely to find new toys under the tree—nearly three-quarters of parents said they have at least one toy or game on their own wish lists this year, and 61% are looking to bond with their kids through play.