It’s that time of the year again! With Christmas only seven weeks away, discussions in retail circles are around the ‘must have’ toy of the season. Historically, if you were to bet on this, a technological gadget would have most likely spring to mind. However, things are shaping up to be slightly different this year with high-tech gadgetry being shunned in favour of more traditional toys.
The Toy Retailers Association have recently revealed the 2015 DreamToys list, a list believed to be the twelve must have toys this year. Decided on by a panel of selectors made up of leading UK toy retailers, the list is heavily laden with toys with a traditional-style of play. A large part of the list is focused around movie-related toys and one movie in particular, Star Wars. With three of the twelve predicted top selling toys in the list related to Star Wars, it has more than any other brand.
Gary Grant, Chairman of the DreamToys committee, said: “2015 is going to be a vintage year for toys. Strong entertainment brands like Frozen, Thunderbirds and Star Wars are appearing alongside creative brands like Little Live Pets and classic evergreens such as Lego, ever more stimulating playsets for under-fives such as Toot-Toot or Paw Patrol and family games like Pie Face.”
He added: “While the blockbuster licences may steal the headlines, it is exciting to see innovation throughout the list with manufacturers successfully combining this with traditional play in, for example, the IDO3D craft set, and Shopkins has become the new craze of the year, embracing all that is good about toys.”
So now the list has been released, it begs the question as to what effect it will have on the toy market? UK retailers hoping the products included in the DreamToys list will lead to the market growing by £100m in the run up to Christmas. Our research confirms that the UK's toy market is worth over £3bn and with an average of £300 spent annually on toys for each child up to the age of 11. Taking this into consideration, it will be interesting to see how the festive period plays out for retailers and whether a battle will ensue on the high street. With ASDA only just announcing its early Christmas Big Brand Toy Sale, which includes toys from the DreamToys list, some may say that the fuse has been lit.
We at Competitor Monitor help global retailers monitor prices and promotional trends thus outsmarting the market. Our fundamental aim is to help the world’s leading companies to stay competitive so why not get in touch today or alternatively take our tour to find out more!
According to the latest figures by the Office for National Statistics (ONS), the UK is now the e-commerce capital of the European Union (EU).
With 79 percent of Britons making an online purchase in the past year, the UK is far above the EU average of 50 percent. Other EU countries sharing the UK’s enthusiasm for e-commerce and boasted similar figures are Scandinavian countries including Denmark, Norway and Sweden with figures of 78 percent, 77 percent and 75 percent respectively. Luxembourg, The Netherlands and Germany also followed the trend making it into the 70 percent club.
However, at the other end of the scale, Romania, Bulgaria and Italy lagged far behind the EU average and held the lowest percentage of online shoppers at 10 percent, 17 percent and 22 percent respectively.
Latest figures also show that in the space of five years, between 2008 and 2013, e-commerce sales in the UK grew by a staggering 66 percent. Experts suggest the reason for this astonishing gain is due to the boundaries between online and offline shopping continuing to blur reflecting a growing shift towards Click & Collect services.
Julie Deane, Managing Director at The Cambridge Satchel Company, commented: “These days it is possible to reach customers in parts of the world a UK brand would not have had reach – total accessibility, global reach – the digital platform allows us to know our customers like never before.”
Moreover, additional figures released by the ONS suggest that e-commerce represents 20 percent of UK business turnover and exceeds the EU average of 15 percent. The UK’s share has increased from 16 percent from 2009 but still trails far behind the Republic of Ireland which sits at 52 percent.
So what do we make of the statistics? Well, they make for some interesting reading! With such shifts in consumer behaviour and the growth of e-commerce globally, you can’t help but think that online retail will only get bigger. We at Competitor Monitor help global retailers monitor prices and promotional trends thus outsmarting the market. Our fundamental aim is to help the world’s leading companies to stay competitive so why not get in touch today or alternatively take our tour to find out more!