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. This will likely be to the delight of parents who are fearful of the amount of television consumption by children at the expense of more mentally or physically active activities.
Despite increasing competition for children’s attention, overall toy retail sales are recovering from the drop to 17.68 billion U.S. dollars seen in 2013. On average, American families spent around 371 U.S. dollars on toys per child in 2013; 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 Tough Treadz Auto Carrier that needed to be recalled as it poses a threat of laceration brings the proposed safety of children’s toy 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 both those directly involved in the market and the 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.