Yahoofinance, Toy Industry Association, Toy İndustry

Yahoofinance, Toy Industry Association

The coronavirus comes at a bad time for the toy industry

The toy industry is facing factory shutdowns that could impact its 2020 holiday sales.

25.2.2020

The COVID-9 outbreak comes at a difficult time for the toy sector, with sales in 2019 off as much as 4%, according to NPD Group. YahooFinance

The toy industry is facing factory shutdowns that could impact its 2020 holiday sales.

“We’re still getting over the loss of Toys R Us, your dedicated big box store, and the store that took its chances on inventors and little products that one day became big products,” Steve Pasierb, president of the Toy Industry Association, told Yahoo Finance during an interview at Toy Fair 2020. “It’s a gap in the industry that we’re still trying to fill.”

“The most important thing, obviously, is holiday deliveries, but we’re really, right now, focused on the workers and factory owners there who are an essential part of our business,” Pasierb said.

Target (TGT), Pasierb said, has captured some of the market share left behind by company, and teamed with Tru Kids Brands in October to share its online sales capabilities with Toy R Us’ relaunched website Toysrus.com. Walmart (WMT), meanwhile, is still the largest toy retailer in the U.S.

“And so what seemed like a threat early on has actually been a boon. And what we hear from this generation of kids is that they’re finding time to be digital and finding time to play like kids have always played.”

Read more: Yahoo Singapore

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