Parents are prioritizing their kids’ holiday toys this season, budgeting for toys above all else in the family budget, per the results of a survey from The Toy Association. 1,000 parents were queried in a study conducted by Wakefield Research.
“Though inflation has slowed, consumers remain cautious with spending. But our survey shows that parents are still prioritizing purchases that spark joy — and nothing sparks joy for both kids and, now more than ever, adults, quite like toys,” says Adrienne Appell, executive vice president of marketing communications at The Toy Association.
While families are discerning with their budgets overall, the concern is not directed at the latest toys. Most parents (69%) are willing to cut corners elsewhere. Dads are the biggest softies (73%) and are more willing than moms (65%) to reduce spending on other needs than toys. Most parents (72%) have games and toys on their own wish lists. Dads are also more likely to ask for toys than moms; research found that parents asking for toys plan to use it to bond with their kids.
Parents are budgeting for just any toy, either. They’re looking for educational toys. Most parents (56%) seek toys that promote mental, emotional, and social help. Parents under 40 are more concerned than average; 64% of younger parents are prioritizing these toys.
Younger parents are also looking for sustainable toys. Half of this demographic considers how the toy was manufactured, how it can be disposed of, and how long it will last.
A large swath (40%) of parents are concerned about toys representing different races, cultures, identities, and abilities. Three in five parents (58%) said they have purchased toys their children see on social media or shared by an influencer; the study found this is most common amongst elementary school-aged kids.
For more information about this study, visit toyassociation.org.
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