Parents prioritize their children’s holiday toys this season, placing toy budgets above all else in their household budgets, according to a Toy Association survey. A study by Wakefield Research asked 1,000 parents.
“Despite slowing inflation, consumers remain cautious about spending. But our survey shows parents still prioritize buying things that spark joy, and nothing brings joy to children and adults more than toys. ,” said Adrienne Appell, executive vice president of marketing communications for the Toy Association.
While families are picky about their overall budget, their concerns aren’t specific to the latest toy. Most parents (69%) are willing to cut corners elsewhere. Dads are the weakest (73%), more willing than moms (65%) to spend less on needs other than toys. Most parents (72%) have games and toys on their wish list. Dads were also more likely than mothers to ask for toys. Studies have found that parents request toys to connect with their children.
Parents are also budgeting for any toys. They are looking for educational toys. Most parents (56%) seek toys that promote mental, emotional and social support. Parents under 40 are more concerned than the average person; 64% of younger parents prioritize these toys.
Young parents are also looking for sustainable toys. Half consider how the toy is made, how it is disposed of and how long it will last.
A large portion (40%) of parents are concerned about toys that represent different races, cultures, identities and abilities. Three in five parents (58%) said they had purchased a toy their child had seen on social media or shared by an influencer; research found this was most common among primary school-age children.
For more information about this study, visit toysassociation.org.
