Research firm Circana’s US toy sales data shows that 2024 is pretty much a continuation of 2023 so far.
In its most recent report, which covers January to September, Circana found that the difference in dollars spent is flat compared to last year, the amount of units sold is only down 0.5%, and the average sale price of toys is up 0.5% to US$11.03.
Building sets was the only supercategory to post growth in dollars, units and price, driven by the strong performance of LEGO’s Botanicals range. Other segments that grew include explorative & other toys (led by NBA trading cards), plush (thanks to Hello Kitty) and vehicles (driven by Monster Jam, pictured). However, outdoor & sports toys, dolls and action figures posted declines.
“In the beginning of the year, I coined ‘correction to consistency’ as the theme of 2024, and during the third quarter, the toy industry reached a level of stability that we have been moving towards,” said Juli Lennett, VP and toy industry advisor at Circana. “However, the positive performances remain within a small group of categories; what’s needed is more stability across the board.”
Heading into the holidays, Circana’s consumer data shows an intent to spend about 2% more on holiday shopping this year compared to 2023, with Millennials and parents planning to shell out the most.