Toys Continue to Boom: Looking for Fun in the Year of the Virus
U.S. retail sales of toys generated $25.1 billion in 2020, an increase of 16% or $3.5 billion, according to a report from The NPD Group. Consumers received Federal stimulus checks and had more to spend on toys since they weren’t spending on other types of entertainment. The year started slow, with flat toy sales through mid-March 2020. Then NPD says, “widespread lockdown measures led to an abrupt increase in sales. The top-dollar growth subsegments in 2020 were fashion dolls and accessories, up 56%, sports toys (including skates, skateboards, and scooters), up 31%, games, up +29%, building sets, up 26%, and summer seasonal toys, up 24%.