During a recession, the amount parents are spending on their children doesn’t really change, but what they choose to buy does. While there’s only been a 2% growth in U.S. toy sales this year, it’s still a resilient industry. NPD found that there’s been “double-digit growth rates since 2019, with explorative & other toys (26%), plush (25%) and games & puzzles (20%) leading the way.” In the U.S., the average price of a toy is currently $11.30, “representing an 8% annual increase,” but this isn’t deterring parents. YPulse’s Holiday Shopping Plans report data shows that 80% of Millennial parents agree: “I’m going to want to do whatever I can to make this holiday special to make up for the year we’ve had.” (Kidscreen)
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