The Exchange: Is the toy industry, which has a supply shortage, ready for the year-end celebrations?
Despite some reports that video games are killing the toy industry, the traditional toy market is making a successful comeback.
While the industry grew by 5 percent in the first quarter of 2021, the game and toy market made a giant leap in Europe with 38 percent.
In addition, the return of ‘young adults’ (Kidults) to the sector was an important factor in catching the uptrend. The popularity of nostalgic children’s toys increased rapidly when childhood games were recalled during the pandemic.
- EU proposal to establish a retaliation mechanism against commercial competitors
- Seven Strengths of Sensitive People
According to Toy World Magazine, nearly a quarter of all toy sales were made by young adults aged 19 to 29 last year.
Our correspondent Emily Wither went to Hamleys, one of the country’s largest toy stores, in London, the capital of England, to see this situation in place.
He asked Sanjay Luthra, Managing Director of giant toy manufacturer Mattel, why traditional toys are being sought after during the pandemic.
John Baulch, Managing Director of the toy magazine Toy World Magazine, clarified the crisis the industry is experiencing due to the supply chain and how this could affect the end-of-year shopping.
