Global toy sales rose in 2007
By Staff -- Playthings, 9/10/2008 9:14:00 AM
PORT WASHINGTON, N.Y.—Despite slumping domestic sales and continuing competition from children's entertainment alternatives like video games, worldwide toy market sales topped $71.96 billion dollars in 2007, a 5 percent increase over the $68.5 billion generated in 2006, according to The NPD Group.
According to NPD’s first Global Toy Trends and Forecasts report since 2004, North America now represents 33 percent of worldwide toy sales, followed by Europe at 30 percent and Asia at 24 percent. However, according to NPD prediction models, Asia is expected reach parity with Europe's market share, with both representing 27 percent of worldwide sales by the end of 2008, and then grow by 18 percent by 2010.
Next to the United States, where traditional toy sales slipped 2 percent to $22.1 billion in 2007, Japan and the United Kingdom produced the most revenue in 2007, generating $5.95 billion and $4.38 billion, respectively.
Sales in Brazil, Russia, India and China (BRIC) outpaced total market sales, and are becoming increasingly important to the overall growth of the global toy market. In 2004, BRIC countries made up only 8.8 percent of world toy market sales, but had increased their market share to 11.2 percent in 2007.
The U.S. was the only country of the 12 countries it actively tracks to show negative dollar sales growth in 2007. However, NPD estimates the U.S. market will return to growth, and should deliver an increase in the average spending on toys for kids of nearly 9 percent by 2010.
In light of its research, NPD now expects worldwide toy sales to top $86.3 billion in 2010.
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