The US traditional toys and games market is growing, with a 5% spending increase expected in 2024, led by popular plush toys and building sets like LEGO. A strong economy supports this growth, despite potential challenges such as labor disruptions.
Traditional Toys and Games Market Report – Current Landscape
The traditional toys and games market remains strong, with building sets and plush toys leading the charge. LEGO in particular continues to have a significant presence. Key consumers include mothers and adults purchasing for themselves, while Amazon, Walmart and Target dominate the retail scene. Price, quality and brand trust heavily influence purchasing decisions. Brands in the traditional toys and games market that are looking to integrate AI into toys should tread carefully, as some consumers remain wary of this technology. Licensing agreements for video game properties are expanding into tabletop gaming, drawing in new audiences, while the rise of crowdfunding continues to offer innovative launch strategies. A prosperous holiday season is anticipated, supported by solid economic growth and lower inflation, though potential labor disruptions could pose challenges in the near future.
Readers of this report are likely to be interested in the US Sporting Goods Retailing Report 2024. Or, you can browse all of our Retail Market Research today on the store.
Traditional Toys and Games – Market Statistics
- Popular Purchases: In the past 12 months, 34% of consumers purchased building sets and stuffed animals, making them the most popular categories, followed closely by board games at 33%.
- Purchase Influencers: Price is the most important factor for almost 60% of consumers when buying new toys or games, though quality and brand trust are also significant.
- Self-Purchase Trends: 52% of consumers purchased toys or games for themselves in the past 12 months, highlighting a trend of adult consumers buying for personal enjoyment.
Traditional Toys and Games Market Report – What’s Inside?
Key Topics Analysed in the Report
- Challenges, opportunities and trends in the toys and games industry.
- Who is purchasing toys and games the recipient they’re shopping for.
- Which toy and game categories and brands are most popular currently.
- How brands can add value to their products independent of price.
- When comparing products, which factors most positively impact purchasing.
- Where are people shopping for toys and games, and what does their purchase journey look like.
Report Scope
- Product Categories: Building sets and plush toys, stuffed animals, board games, puzzles, sports-related toys, arts and crafts, card games, toy vehicles, action figures, dolls and playsets, and outdoor toys.
- Leading Brands: LEGO is noted as a dominant brand, being the most likely to be purchased and leading in revenue. Other popular brands include Disney/Pixar, Hot Wheels, Star Wars, Barbie, and Monster High, with varying appeal across different age demographics.
- Retail and Distribution: Major retailers like Amazon, Walmart, and Target are key distribution channels.
Meet the Expert Behind the Analysis
‘With a better economy in 2024 than previous years, new ways to reach shoppers directly, and new properties to excite, count on toys and games to continue to grow.’
Brian Benway
Senior Tech and Gaming Analyst
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Executive Summary
- What you need to know
- Market size and forecast
- Convincing adults to buy toys for each other may be challenging
- Quality parts and construction should be easily apparent, don’t skimp
- Online retail has transformed shopping
- Price is most important, but isn’t everything
- Market predictions
- Opportunities
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Market Dynamics
- Market context
- Annual inflation is within range of the Federal Reserve’s 2% target rate
- Graph 1: headline CPI and core CPI, 2021-24
- Over 40% of consumers have seen their financial situations change for the better in the past year
- Graph 2: change in financial situation over the past 12 months, 2024
- Households’ growth in finances has primarily been driven by salary gains
- Graph 3: income growth over the past 12 months, by change in financial situation, 2024
- Households’ outlooks on their personal finances remains bullish
- Graph 4: income growth in the past 12 months, by financial outlook, 2024
- Graph 5: opinions on financial future, 2024
- Market size and forecast
- BEA sales tracking shows continued growth in the US toy industry
- Graph 6: total consumer spending forecast for games, toys and hobbies, 2015-24
- Global toy sales reached $108.7 billion in 2023
- Graph 7: toy industry category sales, 2019-23
- LEGO’s massive popularity allows it to crossover with many other intellectual properties beyond its own homegrown brands and franchises
- Market drivers
- The need to appeal to adult consumers will rise to ensure continued toy sales
- Graph 8: annual births and % change, 2010-23
- Hasbro the toy maker eyes new growth by becoming a video game maker
- Crowdfunding faces more competition for backer’s attention
- Even a successful multi-million dollar Kickstarter isn’t a sure bet
- Holidays are safe for now, but paused strike may impact future Atlantic ports
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Consumer Insights
- Consumer fast facts
- Toy and games purchased
- With no overwhelming winners or losers, toys and games enjoy a healthy market
- Graph 9: toy and games purchased in the past 12 months, 2024
- Moms doing most of the toy shopping likely isn’t terribly shocking
- Graph 10: repertoire of toy and games purchased in the past 12 months, 2024
- Better economics should lead to a strong 2024 toy purchasing holiday season
- Graph 11: toy and games purchased in the past 12 months, 2022 vs 2024*
- While most toy and games interest leans young, some have broader appeal
- Graph 12: toy and games purchased in the past 12 months, by age, 2024
- Traditional gender norms in toys and games purchasing hold steady
- Graph 13: toy and games purchased in the past 12 months, by gender, 2024
- Households with kids need toys, and mom is more often the one shopping
- Graph 14: toy and games purchased in the past 12 months, moms vs dads, 2024
- Toys for boys and toys for girls do not appeal to opposite genders equally
- Graph 15: toy and games purchased in the past 12 months, parents of boys vs girls, 2024
- Gender-based marketability may be stifling innovation in the toy aisle
- Graph 16: toy and games purchased in the past 12 months (select), men and women with sons or daughters under 18, 2024
- Toys and games recipients
- Buying toys and games as gifts for adults is hard, encouraging it may be harder
- Graph 17: toy and games purchase recipients, 2024
- Neither adult only nor child only product focus can capture the market
- Graph 18: toys and games shopper segments, 2024
- Grandma does the heavy lifting on gifting toys and games
- Graph 19: toy and games purchased for children, moms vs dads, 2024
- Dolls and playsets get a boost of interest from parents purchasing gifts
- Graph 20: specific toy and games purchased for children, by parents, 2024
- Moms are more likely to be buying for their own kids, and some categories stand out more than others
- Graph 21: specific toy and games purchased for children that aren’t theirs, moms vs dads, 2024
- Graph 22: specific toy and games purchased for their own children, moms vs dads, 2024
- Trucks for little boys and baby dolls for little girls, easy to understand gifting
- Graph 23: specific toy and games purchased for other children, by non-parents of children under 18 at home, 2024
- Girls may just want to have fun, but men are more often buying toys to play with
- Graph 24: toys and games purchased for adults, by gender, 2024
- Young adults of both genders enjoy buying toys and games for themselves
- Graph 25: toys and games purchased for adults, by age, 2024
- For parents, buying a toy for themselves or their kids is an easy choice
- Graph 26: toys and games purchased for adults, parents vs overall, 2024
- Board and tabletop gaming remains highly popular with adults after COVID-19
- Graph 27: specific toy and games purchased for adults, 2024
- Encouraging men and younger people buying toys and games for themselves is a valid yet easy answer
- Graph 28: specific toy and games purchased for “myself,” by age, 2024
- Graph 29: specific toy and games purchased for “myself,” by gender, 2024
- Toys and games brands
- Toy and game brands hold a lot of meaning to people
- Media has a powerful impact on consumer’s sentiment toward brands
- Graph 30: brands/franchises of toys and/or games purchased in the past 12 months, 2024
- Toy and game brands create shared touchstones that bring people together
- Graph 31: toys and games communities keep me engaged with the brands and products I enjoy (% agree), by age, 2024
- Most toys are purchased by younger shoppers, and most toy brands tend to appeal more to a younger audience
- Graph 32: brands/franchises of toys and/or games purchased in the past 12 months, by age, 2024
- Toy and games are heavily gender split, little surprise consumers follow suit
- Graph 33: brands/franchises of toys and/or games purchased in the past 12 months, by gender, 2024
- Children are broadly interested in many toys, but a few get gendered interest
- Graph 34: brands/franchises of toys and/or games purchased in the past 12 months (select), by gender of children, 2024
- Brands that appeal to both children and adults see the strongest engagement
- Graph 35: brands/franchises of toys and/or games purchased in the past 12 months, by toy shopper segments, 2024
- Younger children have fewer options for fun than toys and games
- Graph 36: brands/franchises of toys and/or games purchased in the past 12 months, age of children in the household, 2024
- Purchase influencers
- Besides price, build quality reigns supreme as a deciding purchase influence
- Graph 37: influences, beyond price, that would impact one to buy one toy/game over another (any rank), 2024
- Naturally, price is massively important, but it’s only part of the total value equation for shoppers
- Graph 38: price is the most important factor when I decide to buy a new toy or game (% agree), by age and gender, 2024
- The secondary market helps shoppers understand the value of their purchases
- Graph 39: “I often check secondary markets (eg eBay) for prices of toys and games before buying” (% agree), by age and gender, 2024
- The top four features have more alignment from consumers generally
- Graph 40: influences, beyond price, that would impact one to buy one toy/game over another (any rank), by age, 2024
- A few notable influences stand out for some, but most are largely aligned on what sways purchase decisions
- Graph 41: influences, beyond price, that would impact one to buy one toy/game over another (any rank), by race or ethnicity, 2024
- Toy and game purchase factors
- Trust in a brand name is a unique and personal factor when deciding which toys or games to purchase
- Graph 42: important factors, besides price, when deciding what toys or games to purchase, 2024
- The top factors are fairly universal for all toy and game products
- Graph 43: important factors, besides price, when deciding what toys or games to purchase, by toys purchased, 2024
- The variation in purchasing factors by age can be interpreted as a distinction between the buying values of parents and grandparents
- Graph 44: important factors, besides price, when deciding what toys or games to purchase, by age, 2024
- Gender lightly impacts purchasing decisions of parents in the toys aisle
- Graph 45: important factors, besides price, when deciding what toys or games to purchase (select), by parental status and gender, 2024
- Nostalgia is a powerful tool within the toys and board games industry
- Graph 46: attitudes toward toy and game purchase influences (% agree), by gender, 2024
- Toy and games retailers shopped
- Online shopping has not completely crushed physical retail
- Graph 47: toy and games retailers shopped, 2024
- Even board and card games are more highly sold at the top three retailers than at specialty toy and games stores
- Graph 48: toy and games retailers shopped, by toys and games purchased, 2024
- Women push Amazon higher than Walmart, and men hold Target back
- Graph 49: shopped at Amazon, Walmart and/or Target for toys and games, by gender, 2024
- Convenience and the presence of young children drive toy and game shopping
- Graph 50: toy and games retailers shopped (select), by age, 2024
- Younger adults are more willing to go straight to the source
- Graph 51: “I would prefer buying toys and games directly from the manufacturer” (% agree), by age and gender, 2024
- Younger adults are also more willing to pay a premium for quality
- Graph 52: expensive toys and games sold online are often more compelling than similar cheaper options sold in stores (% agree), by age and gender, 2024
- Toy and games purchase journey
- Competitive pricing and have an online presence are a must have
- Graph 53: activities done after learning about a new toy or game that you want to purchase, 2024
- Women and men generally approach shopping for toys and games differently
- Graph 54: activities done after learning about a new toy or game that you want to purchase, by gender, 2024
- Attitudes toward AI in toys and games
- AI technology integration into toys and games met with mixed reception
- Graph 55: “I don’t want new AI toys or games (ie hypothetical future toys or games that incorporate artificial intelligence) in my home” (% agree), by gender, 2024
- Shoppers are already getting into the mindset to be wary of AI in products
- Graph 56: it’s often easy to tell when something is created by an AI instead of a person (% agree), by age, 2024
- Parents and younger shoppers would be first to reject brands for using AI
- Graph 57: “I would stop buying toys or games from brands if they used AI in their art or product material” (% agree), by age, 2024
- Hasbro is already on the frontlines of AI in toys and games battles
- Graph 58: attitudes towards AI use in toys and games (% agree), by toy and games purchasers, 2024
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Innovation and Marketing strategies
- Launch activity and innovation
- Funko fusion attempts to capture the toys to video games magic
- AI-created advertising is here; reactions are pretty mixed
- Gencon 2024: Mintel’s takeaways from the biggest four days in gaming
- Tabletop and video games can be great partners
- Video-game-based products are everywhere you look on the Gencon show floor
- Magic: The Gathering is bringing Fortnite-esque gaming to tabletops
- Marketing and advertising
- McDonald’s introduces new vintage inspired collectors cups
- Meal kits brings toys and family appeal home for dinner
- LEGO sets itself a sustainable plastic goal
- Elmer’s brings a touch of tech to traditional crafts
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Appendix
- Consumer research questions
- Consumer research methodology
- Generations
- Abbreviations and terms
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