Is it hard for you to select the perfect toy for your kid? Do you often feel that crafts are only for enjoyment? Well, when it comes to kids there could be nothing more fascinating for them to get their favourite toys. Toys, crafts, and DIY segments can be the most important thing for almost all kids. Though parents shop for toys to keep their kids happy and let them play whenever they want, there is a lot more to reveal.
Toys and crafts are the best tools for the development of your child. Starting from the cognitive skill to displaying their inner character, the kids get to use their imagination in reality and thus portray how to live their future life and what they wish to be when they grow up. Choosing the right toy is important. Even if as a parent you feel that it can spoil your kid, we must say, keeping your kids away from toys might hamper their development so be cautious before you make a decision.
Here's What the Surveys Reveal
There have been a lot of surveys carried out at various intervals in the United States, that revealed how many parents spend time and money choosing the right toy for their kids. These surveys revealed the keen internet of US parents in their child's mental and physical development.
People in Brampton, USA want their kids to always be engrossed in some of the activities.
A survey was conducted according to which the parents of Brampton kids invested around 7.4 million US dollars for their kids behind the painting and drawing hobbies. While a total of 7.31 million dollars were put in crafting activities.
Well, these are not the craft and hobbies that parents got their children involved in. Activities like edible arts, sewing fabrics, paper crafts, knitting and crocheting, wood crafts and home decor, beads and jewelry making, floral crafting and needle arts, and many others. The survey noted that a very few of the children took part in activities related to floral crafting and needle arts contributing just 1.12 million dollars and 0.92 million dollars respectively.
Which of the following particularly frustrates you about shopping for toys?
Shopping can be fun for some but when it comes to your kid, everyone needs to be extra careful. There are lots of things that bother everyone while they go shopping for toys.
● Price: Purchasing a branded amazing toy for your kid, that your kid demands may cost a little more as compared to the non-branded toys.
● Selecting good toys: this is also an important factor that is noted when choosing to purchase toys for your kids. Kids tend to use the toys roughly so it is important to select good choices.
● Out of stock: Sometimes it happens that when you go shopping for your kid you find out that the toy that your child is longing for is out of stock.
● Shopping with kids: if you go out and shop with your kid you need to understand that they tend to be lured with whatever they see.
● Top-quality or durability: when purchasing a toy for your kid, be very sure about the quality and durability of the product that you are investing your money in.
● Poor information: sometimes it happens that the product you wish to buy for your kid does not display adequate information about its usage.
● Too many choices: is confusing when you have too many choices.
● Educational values: invest your money e in such toys that have some educational values.
● Too few choices: open a few stores out there that have limited choices.
Rank what matters most when buying toys for your child?
Though shopping is fun, here is what matters the most when buying toys for your child. There are several factors influencing shopping for your child.
● Price
● quality or durability
● Educational values
● Product safety
● Gender specificity
● Cleanup
● Brand name
The most important thing that matters to parents is the price of the toys, the quality and the durability of the toy, toys with educational values while the least important thing is the brand name. Parents do not give it much importance
The toys, hobby, and DIY segment shows average growth rates of 11% per year
(Global market size)
The survey noted that children are getting involved more with toys, hobbies, and DIY segments. The growth rate has increased by 11 % per year from 2019-2021 globally and it is estimated to show a gradual increase in the coming years. You may find talking but this young generation gets themselves involved in sports and outdoor activities comparatively more as compared to those of hobbies and DIY segments. The growth rate of sports and outdoor activities is 23% per year globally.
Geography segmentation
The Asia Pacific accounts for 38.6% of the global toys and games market value. The United States accounts for a further 24.9% of the global market
While the lowest contribution to the global toys and games market value was from the Middle East countries with just 2.3% in the year 2018.
Market value forecast
In 2003 the global toys and games market was forecast to have a value of $133,6 billion an increase of 28% and since 2018. The compound annual growth rate of the market in the period 2018-23 is predicted to be 5.1%
The survey shows that there is significant growth from the year 2018 to the present and is predicted to gradually increase by the year 2023 contributing a 1.33 $ dollars growth rate of 5.3 %.
Global comparison- Revenue in the toys, hobby, and DIY market
The survey method of global comparison video on by the toys hobby and DIY market. The most promising market was toy hobby and was divided by the market of USA Alaska and China with the total contribution of more than 300000 US million dollars. Mobile lowest revenue collection was reported to be from Denmark between 0 to 50000 million US$.
