Toy stores feel the pinch, with shoppers looking for deals
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It's been a tough year for toys, as high inflation and more cautious spenders means many retailers are feeling the pinch.
It's been a tough year for toys, as high inflation and more cautious spenders means many retailers are feeling the pinch.
"The beginning of December was a little bit slow but it's definitely picked up in the last few days and things are flying off the shelves," said Cheryl O'Hagan, sales associate at Tag Along Toys.
A nice boost for business in an otherwise hard year for the toy market.
According to the NPD Group, the industry grew 30 per cent between 2019 and 2022 when the pandemic kept people home, but this year is a different story.
"People are just watching their pocketbooks a little more this year and I think maybe the toy category has been part of it," said retail analyst Bruce Winder.
Last month, Toronto based toy maker Spin Master reported a downward trend in orders and sales, one it expects will continue until the end of the year.
Mastermind Toys is also set to come under new ownership early next year after filing for creditor protection.
