Economic impact of the U.S. toy industry 2015-2019

The statistic depicts the economic impact of the U.S. toy industry from 2015 to 2019. In 2019, the direct economic impact of the industry was 35.7 billion U.S. dollars. The toy industry's annual total economic impact in the United States was 97.2 billion U.S. dollars.

Additional information on the U.S. toy industry

Toys come in many shapes and sizes with many uses, all sharing the common goal of inciting fun. While primarily marketed at children, certain toys such as action figures and role playing materials are also sought after by adult players and collectors. According to the retail sales revenue in the toy industry in the United States by category, outdoor sports and toys were the highest earning product segment.

Despite increasing competition for children’s attention, overall toy retail sales have recovered from the drop to 17.57 billion U.S. dollars seen in 2013. On average, North American families spent around 306 U.S. dollars on toys per child in 2018; a number that looks set to increase if sales revenues continue to grow. If future sales revenues are to be safeguarded, the industry may look to reduce the amount of toys needing to be recalled by manufacturers in the United States. Products such as the Shake and Sing Elephant Rattle that needed to be recalled as it posed a choking hazard brings the proposed safety of children’s toys into disrepute, a perception that does not sit well with the parental consumers making the purchases.

As seen in the statistic above, growth in the U.S. toy market will be good for those directly involved in the toy market and the U.S. economy as a whole. Higher retail sales volumes mean a greater demand for indirect services such as banking, property leasing and advertisement. Moreover, increased incomes and employment spurred on by the industries growth will likely induce higher consumer spending in the wider economy.

Economic impact of the U.S. toy industry from 2015 to 2019 (in billion U.S. dollars)*

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Source

Release date

2019

Region

United States

Survey time period

2015 to 2019

Supplementary notes

Direct impact Includes firms involved in the production, distribution and sale of toys and similar children's products such as toy manufacturers, wholesalers, distribution and retailers.
Indirect impact Raw material, component and service suppliers to toy manufacturers, wholesalers, distribution and retailers.
Induced impactLocal businesses that are supported by the re-spending of toy manufacturers, wholesalers, distributors and retailers and their direct suppliers. Induced impact is calculated using an input/output model of the United States.
Economic Impact is the value of production by industry in a given geographic area.

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Statistics on "Toy industry"

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