British toy industry now valued at £3.2 billion, according to The NPD Group.
The UK toy market saw a 5.9% increase in sales in 2015, helping to keep it in the top spot as the largest toy market in Europe.
The British toy industry is now valued at £3.2 billion, according to The NPD Group, an increase of £150 million year-on-year. Innovative ideas resulted in more than 58,000 new toys being launched in 2015, equating to 31% of UK toy sales or £1 billion at retail.
Growth was driven partly by 2015 being a vintage year for strong film licences with Minions, Avengers, Jurassic World and Star Wars all playing their part.
In fact, last year saw the global cinema box office revenue break the £26.8 billion mark, making 2015 the highest earning year in movie history. This box office success drove movie-related toy sales up 27% (+89% since 2013).
The increase also includes the success of Frozen which made it the number one toy licence again in 2015.
On average last year 38 toys per child were purchased, with 11 of these being Christmas gifts and stocking fillers so it is unsurprising that December proved to be, as ever, a massive month for toys, accounting for 26% of annual sales.
Frederique Tutt, global toy industry analyst at The NPD Group, commented: “What is interesting about the 2015 performance is the lasting endurance of traditional toys such as building sets and action figures.
“It’s also great to see the variety in the toy industry where a fun game like Pie Face went viral on the internet, alongside the increasing popularity of traditional collectables and the launch of exciting new toys from the movies – which included some of the best-sellers of the year.”
