While their form and function may have changed over time, toys have continued to provide entertainment and inspire play for many. Numerous toys, such as building blocks and puzzles are said to stimulate learning and development of new skills, particularly among children. Other toys, such as Frisbees and balls encourage physical activity and coordination. The total revenue of the global toy market has exceeded the 100 billion U.S. dollar mark in recent years. Valued at over six billion U.S. dollars, Lego is one of the top toy brands worldwide.
The Canadian toy market
The Canadian toys and games market generated approximately 4.2 billion U.S. dollars in 2022, a slight increase compared to the previous year. By 2027, toy and game market revenue in Canada is projected to reach 5.7 billion U.S. dollars.
Christmas is a popular time for children to make a wish list, commonly consisting of the most popular toys and games of the year. Coinciding with the holiday and gifting season, Canadian sales of toys and games have consistently surged in the fourth quarter of each year. As of December 2022, there were over 1,500 hobby, toy, and game stores in Canada to keep up with the demand.
How do Canadians shop for toys?
For the 2022 holiday season, the majority of Canadian consumers said they would visit Walmart, Toys R Us, and/or Costco in order to purchase toy gifts for children. One year earlier, about 40 percent of Canadian shoppers planned to shop online, either on a computer or tablet, for toys. Just under 20 percent planned to buy online using their mobile devices. All in all, however, in-store shopping remained the most popular channel for toy shopping, with three-quarters of Canadians choosing to shop in brick-and-mortar locations.
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Research expert covering shopping behavior, sports and leisure retail, and the subscriptions and direct selling industry