What caused Changes in Consumer Behaviour and the Falling of Toy Sales?
With reports of difficulties in the toy industry such as falling toy sales, it’s important toy manufacturers protect their businesses and ensure they produce toys people still want to buy. So the important question is: What has changed in consumer behaviour?
Research Dr Gummer presented at the ITRA conference as far back as 2009 showed consumers’ reliance on underlying values to inform their decisions, and this is increasingly likely to be the case in tough economic times. Values that impact positively impact on purchasing decisions include trusted brand, familiarity, entertainment/play value (including longevity of the appeal) and perceived value for money. In more recent anecdotal studies, parents report spending longer researching products and are less inclined to buy spontaneous purchases at the POS.
Toy manufacturers can use this knowledge to ensure design processes maximise the play value of toys and marketing strategies communicate these values well to customers.
Here at the Good Toy Guide, we’re pleased that good pre-school toys are seeing healthy growth – children develop a huge range of skills through play at this age. We also like the idea that companies have to think hard about the products they are selling and rather than simply churning out cheap, poorly designed products and slapping a license on them in the hope that they will sell. This means that the ‘good guys’ in the toy industry – those that invest in their R and D and who produce great toys that kids enjoy will thrive even in these tough times.Tags: christmas present, Gifts for Children, licensed toys, PR, Toy companies, toy industry, toy testing, toys
This post was written by Dr Amanda Gummer