‘Is the toy industry recession proof? Yes and no’

To a large extent the toy business is recession proof, however the costof-living crisis will still have an impact when it comes to consumer spending and seeking out value for money – meaning innovation and extended play value is more important than ever.

This is the view of a number of high profile toy business executives featured in this issue of Progressive Preschool, while there is also cautious optimism for growth for the UK toy market in 2023.

Exhibitor applications now open for Toy Fair 2024

Applications are now open for companies to apply to exhibit at Toy Fair 2024.

Taking place between 23-25 January 2024, Toy Fair will once again return to Olympia London, occupying both the Grand and National Halls.

After a successful sold out show earlier this year, the organiser of Toy Fair is looking forward to hosting another buoyant platform to bring together the industry under one roof. On top of this, Toy Fair 2024 will mark the 70th anniversary of the show.

Exhibitors who pay their 25% deposit by 26 April 2023 will benefit from a 3% early booking discount. To view stand package options, costs and to apply please visit https://www. toyfair.co.uk/register/.

Long standing exhibitor and returning for 2024, Liz Ireland, founder and md at Bigjigs Toys, commented: “I cannot imagine being a part of the British toy industry and not attending the London Toy Fair. It’s an absolute must for Bigjigs Toys as a leading supplier to independent retail. Our application is turned around the same day to secure our space.”

Majen Immink, head of Toy Fair, continued: “We are really looking

Asked if the toy industry was recession proof, Nic Aldridge, md at Bandai UK, commented: “No, not completely but very close to it. People (parents/gift givers) might rationalise their spend, but they will always find a way to fund some toy sales even if it means cutting back on other luxuries. Often parents will use toys to buffer what bad news there might be in the rest of the world. However we are also seeing the growth of second hand toy sales in the market as a solution to challenged household budgets, but also I believe as a move to forward to welcoming the industry back in 2024. Toy Fair 2023 was a great success and we hope to build on this momentum for 2024 and kick off the business year with a real buzz. We have already been overwhelmed with exhibitor enquiries, so we urge anyone wanting to exhibit to get their application in early.”

For the latest news visit PreschoolNews.net more sustainability in the marketplace.”

Neil Montgomery, UK commercial director at Jura Toys, said: “In my opinion the toy business is recession proof because people will always find money to spend on their children, that seems to be non-negotiable. Therefore, companies can still deliver stable sales despite tougher economic conditions. However, I do see that a recession can change the shopping habits of consumers who become more discerning in looking for better value for money and products with greater longevity.”

Phil Cassidy, md at Casdon, believes that consumers are certainly making more considered purchase decisions. “Consumer confidence is at an all-time low and this has an impact on purchase decisions - the toy industry is no exception to this,” he said. “Of course, we still celebrate big events such as birthdays and Christmas every year however we’ve certainly seen consumers become savvier with their approach and while they may not necessarily be eliminating gifts completely, they’re certainly being more considered when making purchase decisions.”

For Liz Ireland, founder and md at Bigjigs Toys, companies that can provide the greatest value in a product will do well. “Customers want to see great value at the point of purchase and in enduring play with the product,” she commented.

Turn to pages 18-21 to read more views from Nic, Neil, Phil and Liz in this issue’s industry roundtable.

Cosatto enters new era with Silhouette design

Cosatto has swapped its characteristic vibrant colours and energetic fabrics for a sleek classic black for its latest launch.

The new Silhouette is the result of years of development and reflects Cosatto’s ethos, with the same brand heritage, same design expertise, quality and baby sensory functions. However, it departs from colour and pattern by being jet black with a silhouetted black and white interior hood design.

“We know that so many people love our bright colours and creative designs, but there has always been a segment of audience that loves classic black and up until now, we couldn’t accommodate that desire,” commented Vicky Morley, creative and marketing director at Cosatto. “Silhouette means that there truly is a Cosatto pushchair for every parent.”

bumpPR expands its offering

Boutique PR agency, bumpPR has added a new service to its portfolio.

The company – which is now in its 13th year and has more than 45 years’ experience across the team – has developed its services for the baby and parenting industry to offer a copywriting service. Bespoke packages will look to meet individual brand needs, with the team drawing on its expertise to support brands –from smaller start-ups looking for the best way to talk about their products, to established companies seeking copy for catalogues or support with Amazon listings.

Cosatto md, James Philips, added: “We wanted to address a bigger sector of the market, reaching a wider range of consumers – to really ramp up our sales even more.”

The marketing plan for Silhouette is primed to hit at key points in the launch calendar and includes a retailer roadshow, as well as a recent consumer launch event at Mama Shelter in London’s Shoreditch. Below: Silhouette will help Cosatto reach an ever wider range of consumers.

Support will include website copy, advertorials and press releases, through to marketing materials such as catalogues and leaflets, while the team will also utilise its experience across social media.

“We are so excited to expand our services here at bumpPR, and continue to increase the ways that we can support any business, big or small,” commented Lisa Bryant, founder of bumpPR. “From newsletters, catalogues, advertorials and even blogs, we are ready to help your business shine.”

For the latest news visit PreschoolNews.net