Children’s ability to get confused loses some of its power around Christmas Eve as the cost of living skyrockets, the expert says.
Melissa Symonds, director of UK toy analyst NPD, said parents are changing their shopping habits to eliminate low-cost impulse purchases.
She said the retailer’s “best option” was £20 to £50 toys, enough to last the entire holiday period.
UK toy sales fell 5% in the first nine months of the year compared to the same period last year, NPD analysis showed.
“Parents have become stronger in their ability to get confused and say no to a low price, but they are also not overly fixated on a high price,” Ms Symonds said.
She said families are moving towards a “sweet spot” despite the usual spending of £100 on toys for children under 10 over the Christmas period.
Retailers are hoping the Christmas holiday will boost sales despite forecasts of slowing or falling sales. It’s Sunday, which means they have a whole week of shopping ahead of them – the last week of harvest in 2016.
The Toy Retailers Association said it was aware of the financial pressure families faced when it released 12 “dream toys” in the lead-up to Christmas. However, people still tend to spend money on their children on birthdays and Christmas first, so they choose toys at different prices.
“Children are lucky to be put first,” said Amy Hill, a toy collector who represents the association. “Half the list of 12 is under £30 which is quite reasonable.
The average price for a dozen outstanding toys, including a fluffy guinea pig that gave birth to three puppies, was less than £35. This is just £1 below last year’s average, but nearly £10 less than two years ago.
On the market, toys cost less than £10 on average throughout the year and £13 at Christmas.
Ms. Hill said that the toy industry does not require higher costs than food.
Among those concerned about financial stress while on vacation is Carey, who is unable to work while awaiting surgery.
“My Christmas will be filled with guilt,” the 47-year-old told the BBC. “I’m absolutely afraid of it.”
“I’m looking for cheap options for everything. I can’t afford my youngest daughter as the main gift so I can piece it together.
She said she advises relatives to buy her daughter toiletries and practical items as gifts.
Children’s charity Barnardo’s said its study found that about half of parents of children under 18 expected to spend less on gifts, food and drink than in previous years.
Financial firm Barclaycard predicts that consumers will celebrate “in moderation” this year. He said that would include more buying second-hand gifts and setting spending limits by households to manage their spending.
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Post time: Nov-09-2022
