Things are looking up for the toy industry as parents and grandparents, sad over the bankruptcy of Toys R Us, fueled massive sales in the first half of the year.
The toy industry’s sales grew 7 percent to $7.9 billion through June, according to market research company NPD Group.
“It is likely that the Toys R Us news has kept toys top-of-mind for parents and grandparents when shopping for kids in general, benefiting both consumers and the industry,” Juli Lennett, senior vice president and industry advisor, said in a statement Monday.
She said she was convinced that the jump in sales was at least partially due to empathy over losing Toys R Us.
“I think it brought about an emotional response that resulted in parents buying more toys overall,” she said.
Lennett said that sales of toys priced between $5 and $19.99 and robotic and interactive toys were the two major drivers of growth in the toy industry so far this year.
Collectible dolls like LOL Surpise, Fingerlings and Soft N Slo Squishes remain at the top of kids’ wish lists as well as toys that feature dinosaurs and unicorns.