Abstract
Toy retailing revolves around selling a fun product in a highly competitive marketplace. The stores should be vibrant and exciting, but the majority of the market are competing on price and becoming increasingly commoditised.
The market is geared up for the ten weeks before Christmas when it delivers over half of its sales, thus stock management, having the right product at the right price and appealing to the customer is even more crucial.
Key report themes:
- How do retailers cope with the reliance on Christmas, including the problem of shortages of bestsellers at key times? What can be done to reduce the seasonality of the market?
The toy retailing dynamics are changing: the growing importance of the internet for toys and games; consolidation among fewer, larger retailers; growing competition from the supermarkets as they expand their non-food offers; and the introduction of new retail formats (eg Build-A-Bear). Are these changes increasing or decreasing the appeal to the consumer?
- What can retailers do to increase their appeal? How can they encourage more visits to their stores away from the Christmas period?
- Can toy retailers broaden their consumer base by targeting toys and games more at adults - appealing to the ‘inner child' and enabling adults to take a break from being grown-up?
- Pricing promotions are rife during the Christmas period, with three-for-two offerings and discount days common, but is this increasing sales or just reducing margins? Are consumers hanging on until the last minute to get the best deal or is getting the right toy more important?
- Will toy retailing be insulated from the credit crunch?
Table of Contents
- Issues in the MarketKey themes
- Definitions
- Abbreviations
- Market in Brief
- Steady and stable
- Show time
- The big three
- Independents lose out
- It' s a squeeze
- Multichannel pull
- Toys lose favour
- Make it an experience
- Tough and tumble
- Industry Insights
- Key points
- Flat or falling
- New kids on the block
- Brands still strong
- Winners and losers
- Seasonality
- Getting the range right
- Price discounting and promotions
- Average prices falling
- Rip-off Britain?
- Opportunities in the marketplace
- Wow service
- The impact of the credit crunch
- Outlook for the market
- Internal Market Environment
- Key points
- Rising costs for retailers
- Downward pressures on retail pricing
- Independents lose out to multiples
- Ten weeks
- Price discounting and promotions by retailers
- Supermarkets help impulse purchase
- Growth in the internet as sales channel
- Multichannel
- New and exciting
- Crazy crazes
- TV and film fame
- Product recalls
- Broader Market Environment
- Key points
- Christmas is coming later
- Recession-proof?
- Figure 1: Trends in PDI and consumer expenditure, 2003-13
- Growing younger
- Figure 2: Child population, by age, 2003-13
- Older kids have expensive taste...
- ...but more oldies than teens
- Rich kids
- Figure 3: Socio-economic breakdown of population, 2003-13
- Kids growing older younger
- Nanny state
- Made in Britain
- Reduce, reuse and recycle
- Split sales
- Figure 4: Change in the number of divorces, 2003-13
- Unfavourable exchange
- Market in Context
- Key points
- Spending on children
- Figure 5: Consumer expenditure spending on toys and games compared to
other areas, 2003-07
- Kids love toys
- Figure 6: Children' s spending -- 7-10-year-olds, 2004-08
- Older kids prefer snacks
- Figure 7: Older children' s spending -- 11-14-year-olds, 2004-08
- Super savers
- Strengths and Weaknesses in the Market
- Strengths
- Weaknesses
- Market Size and Forecast
- Key points
- Solid and stable
- Figure 8: UK sales of toys, 2003-13
- Price vs. passion
- The future
- Factors used in the forecast
- The Consumer -- Where They Buy Toys and Games
- Key points
- Consumers love the book
- Figure 9: Outlets used for buying toys and games, September 2008
- Any place will do
- Changing preferences
- Figure 10: Outlets used for buying toys and games, 2006 and 2008
- ELC pull
- Supermarkets expand in non-foods
- Destination Disney
- Who shops where?
- Figure 11: Market positioning of toy retailers, by age and affluence of
buyers, September 2008
- It' s a family affair
- Choose a gift from the book
- Preschoolers love ELC
- Mothercare for mummies
- Toys are all of us
- Supermarkets still have more to gain
- Internet broadens appeal
- Where' s the loyalty?
- Figure 12: Number of retailers used for buying toys and games, by
retailer used, September 2008
- Average toy buyers shop at 3.4 retailers
- Figure 13: Number of retailers used for buying toys and games, by
retailer used, September 2008
- The Consumer -- Factors That Would Encourage More Shopping
- Key points
- The wish list
- Figure 14: Factors that would encourage more shopping at a particular
store, 2006 and 2008
- Time to choose
- Ease of evaluation
- No hassle
- Information
- Who wants what?
- Figure 15: Factors that would encourage more shopping at a particular
store, by outlets used for buying toys and games, September 2008
- Figure 16: Factors that would encourage more shopping at a particular
store, by outlets used for buying toys and games, September 2008
- Figure 17: Factors that would encourage more shopping at a particular
store, by outlets used for buying toys and games, September 2008
- Children' s Playing and Leisure Habits and Typologies
- Key points
- Toys compete for share of children' s time
- Figure 18: Children' s playing and leisure habits, September 2008
- Top of their game
- Bookworms
- Hyper-parenting
- Sociable or solo
- Identifying targets
- Figure 19: Toy retailing typologies, September 2008
- Group 1: Studious (25%)
- Who are they?
- Group 2: No Views (19%)
- Who are they?
- Group 3: Tech Kids (35%)
- Who are they?
- Group 4: Traditional Child (22%)
- Who are they?
- ELC attracts buyers for Tech Kids
- Figure 20: Consumer make-up of selected toy retailers, by typology,
September 2008
- Buyer for the Traditional Child want the most improvements
- Figure 21: Factors that would encourage more shopping at a particular
store, by typology, September 2008
- Channels of Distribution
- Key points
- Dynamic distribution changes
- Figure 22: Toys and games distribution channel, 2003-07
- The big three
- Specialists going
- Good news for generalists
- Not just doctor' s orders
- Supermarkets shining
- Department stores are not destinations
- Buying groups
- Others
- Home shopping
- Retail Competitor Analysis
- Key points
- Specialists under pressure from mass merchandisers and supermarkets
- Figure 35: Estimated market share of major players, 2003-07
- Multichannel success
- Tough competition
- Tesco going after Argos
- Figure 36: Review of major players, 2008
- Rationalisation
- Learn a lesson from ELC
- Difficult times
- The Entertainer aims high
- Retailer Profiles
- The Disney Store Ltd
- Figure 37: The Disney Store Ltd: Group financial performance, 2003-07
- Figure 38: The Disney Store Ltd: Outlet data, 2004-08
- Early Learning Centre Ltd
- Figure 39: Early Learning Centre Ltd: Group financial performance,
2004-08
- Figure 40: Early Learning Centre Ltd: Outlet data, 2004-08
- The Entertainer (Amersham) Ltd
- Figure 41: The Entertainer: Group financial performance, 2004-08
- Figure 42: The Entertainer: Outlet data, 2003-08
- Games Workshop
- Figure 43: Games Workshop: Group financial performance, 2004-08
- Figure 44: Games Workshop Ltd: Outlet data, 2004-08
- Hamleys
- Figure 45: Hamleys of London Ltd: Group financial performance, 2003-07
- Figure 46: Hamleys: Outlet data, 2004-08
- Toys ' R' Us
- Figure 47: Toys ' R' Us UK Ltd: Group financial performance, 2004-08
- Figure 48: Toys ' R' Us UK Ltd: Outlet data, 2004-08
- Smyths
- Build-A-Bear
- Non-specialists
- Argos
- Woolworths
- WH Smith
- Mothercare
- Boots
- Tesco
- Asda
- J Sainsbury
- Department stores
- Home shopping
- Retail Advertising and Promotion
- Key points
- Spending more for less
- Figure 49: Main media advertising expenditure by toy stores, 2004-07
- Reliant on manufacturers
- Figure 50: Main media advertising expenditure, by retailer, 2004-07
- At any cost
- Other forms of advertising
- What works best?
- Online restrictions
- Appendix -- Where They Buy Toys and Games
- Figure 51: Outlets used for buying toys and games, by demographic
sub-group, September 2008
- Figure 52: Outlets used for buying toys and games, by demographic
sub-group, September 2008
- Figure 53: Outlets used for buying toys and games, by demographic
sub-group, September 2008
- Figure 54: Number of different outlets used for buying toys and games,
by demographic sub-group, September 2008
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