The UK toy and games market will grow 16.2 per cent between now and 2022, with online market share reaching 43.4 per cent.
This is the latest headline from the research and consulting firm GlobalData who suggests that the UK market will reach a total of £4.6bn within the next five years.
According to its data, online will be a major driver for the market, contributing 84.1 per cent of the total toys and games market growth for 2017 to 2022.
Amazon will overtake Argos to become the largest toy retailer in the UK by 2020 as the high street succumbs to online sales, says the firm. Already, 51.4 per cent of toys and games shoppers visited Amazon in 2017.
“Amazon has managed to improve shopper loyalty with its Amazon Prime services and impressive range of toys and games,” said Molly Johnson-Jones, senior retail analyst at GlobalData Retail.
“Prices on this year’s must-have toys are lower than its competitors, its range is unrivalled and the convenience of its offering is market-leading.”
The report suggests that electronic toys and traditional toys will support strong market growth out to 2022. Electronic toys will grow to hold 13.1 per cent of the total toy market in 2022, while arts and crafts, constructions toy and board games will hold a total of 30.5 per cent for the same period.
“Electronic toy growth is not changing the market yet, as older parents and grandparents still choose traditional toys over toys which bridge the interface between physical and digital play,” continued Johnson-Jones.
“However, as millennials who grew up with digital entertainment start to have families, electronic toy sales will increase and their simultaneous desire to do more ‘wholesome’ activities will mean that the strong growth of traditional toys will continue.
“The UK has always been a highly playground trend driven market, but this year has seen unusually high levels of innovation in toys under £10. Now that children are driving a portion of sales growth in the toy market, it is more important than ever for bricks and mortar retailers to create engaging and immersive environments for young toy shoppers.”