Traditional toys and games in Canada faced a challenging landscape in 2023, marked by declines across most categories as consumers tightened their belts amidst rising living costs. However, amidst the downturn, certain categories showed resilience.
In 2023, consumers adopted a more deliberate approach to spending on traditional toys and games, navigating through the economic headwinds of rising living costs. With inflation impacting household budgets, consumers embraced value-seeking behaviour, including discount purchases, seeking promotions, and trading down to more affordable options.
In traditional toys and games, major players like Mattel, Hasbro, and Spin Master navigated a challenging landscape in 2023, marked by lower sales compared to the previous year. Mattel showcased resilience, with dolls and accessories buoyed by the success of the Barbie Movie release, leveraging the iconic brand's popularity to drive sales.
The retail landscape for traditional toys and games in 2023 witnessed a tale of two trajectories, reflecting the industry's resilience and adaptability amidst shifting consumer preferences and economic challenges. Major toy retailers experienced contrasting fortunes, emblematic of the volatile environment characterised by high inflation and economic uncertainty.
The trajectory for toys and games in the coming years reflects a landscape marked by resilience, innovation, and evolving consumer preferences. While 2023 witnessed subdued growth, driven primarily by video games, traditional toys and games faced headwinds stemming from reduced consumer spending amidst inflationary pressures and changing demand dynamics.
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Toys and Games
This is the aggregation of traditional toys and games and video games.
See All of Our DefinitionsThis report originates from Passport, our Toys and Games research and analysis database.
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