GM Director’s Thought For The Week
This week Associate Director Dan Chrystie discusses Toy Fair season and a look ahead to 2017.
The Toy Fair season got off to a bang in London and Nuremberg and alongside all of the wonderful products on show came an update from The NPD Group that the UK Toys & Games market continues to show year on year growth.
In terms of sales, the UK was up 6.3% with the overall market now being valued in excess of £3.5billion for the first time. This makes it the biggest market in Europe and 4th largest globally. It comes as no surprise to us to see collectables at the heart of this, seeing a year-on-year increase of 44%. This category accounts for one in four of all toys sold in the UK in 2016.
Looking ahead to 2017, a survey of the BTHA members shows the industry to be in buoyant mood. However, the prime concern of the industry was Brexit – could it have been anything else?! – the perceived consequences of this being to a devalued pound against the dollar and therefore potential price increases. With plans on how we intend to leave the European Union being put through the House of Commons a clearer picture will be provided imminently….or will it?
But before all of that, we still have two more Toy Fairs to contend with. We’ll see you in New York.