Circana Reports First Half 2024 Toy Industry Performance in U.S. & Globally
The following article is based on two press releases (U.S. & global) issued by Circana on August 12, 2024.
August 12, 2024 | Circana announced today global and U.S. toy retail sales performance results for the first half of the year. See below for a breakdown:
U.S.
Toy industry dollar sales remained steady and declined .4 percent ($42 million) year to date compared to the same period in 2023, when the market was down 8 percent. Unit sales declined 1 percent and the average selling price of $10.85 increased 1 percent compared to last year. Looking at the bigger picture, toy sales remain 38 percent ahead of 2019 levels.
According to Circana’s Retail Tracking Service data, three out of the 11 toys supercategories experienced growth in the first half of 2024. Building sets led the pack, with dollar sales up 25 percent and units sold also growing, primarily driven by LEGO Icons and its appeal to adult consumers. The explorative and other toys supercategory followed, with 9 percent growth, lifted by the popularity of NBA and NFL trading cards, and the vehicles supercategory, driven by Monster Jam, also contributed to the dollar growth. In addition to building sets, plush and outdoor and sports toys were the two other supercategories to grow in terms of units sold. Among the top 10 toy properties based on dollar sales, four posted growth including Barbie, LEGO Icons, NFL, and NBA.
Looking at the overall top-selling toys across the industry for the six-month period, Squishmallows from Jazwares holds five spots, including ranking as the No. 1 top-selling toy. Items from The LEGO Group (Icons Bouquet of Roses and Tiny Plants), Mattel (Hot Wheels Singles 1:64 Assortment), Zuru (Bunch O Balloons 3-Pack), and Pokémon (Pokémon Scarlet and Violet Paldean Fates Pokémon Center Elite Trainer Box) also landed on the list.
“With toy sales beginning to stabilize in 2024, the tide is turning for the industry as we are moving from a state of correction to one of consistency,” said Juli Lennett, vice president and U.S. toys industry advisor at Circana. “However, it’s important to note that there are no guarantees for smooth sailing through the second half of the year. While inflation has begun to cool, the unemployment rate, record consumer debt, student loan repayments, and fluctuating consumer confidence should be monitored closely as a proxy for how the consumer is feeling and might shift their spending.”
Global
Global toy industry sales declined 1 percent from January through June 2024, compared to the same six-month period in 2023. The data is based on retail sales performance figures across the 12 global markets (G12) that Circana tracks, including Australia, Belgium, Brazil, Canada, France, Germany, Italy, Mexico, Netherlands, Spain, the UK, and the U.S. Average selling price was on par with last year at $11.57, according to Circana’s Retail Tracking Service.
So far this year, four of the 11 toys supercategories tracked by Circana experienced a year-over-year sales increase within the G12. Building sets continue as the main driver behind the industry performance with 20 percent sales growth, followed by explorative and other toys, up 5 percent, and plush and vehicles each growing by 1 percent.
Licensed toys accounted for 32 percent of the total toy market in the first half of the year, which is 5 percent higher than the same period in 2021. Licensed toy sales sales grew by 6 percent compared to 2023. Pokémon is still in first position among the top brands and licenses globally, followed by Squishmallows (Jazwares), Star Wars (Disney), Marvel Universe (Disney), and Hot Wheels (Mattel).
“We continue to observe strong momentum with older consumers, especially adult fans and collectors who have re-discovered play and are very engaged with the category,” said Frédérique Tutt, global toys industry advisor at Circana. “As we move through the second half of the year and prepare for the holiday season, we expect to see more new products being launched that will deliver excitement for children and adults alike. The industry will continue to gain traction in product categories including building sets, plush, robotic interactive pets, and collectibles.”