Toys 'R' Us will open 120 new independent stores for the holiday season. The iconic retail chain announced on Thursday that a total of 160 independent stores will be operational by Christmas. Additionally, the chain is currently present in several Macy's stores across the country.
Increase in Toy Sales Among Adults
Sales of toys among adult households are significantly rising, and according to market research group Circana, toy sales in these households have grown by 16 percent through June. This figure accounts for 55 percent of the total revenue in the toy industry. Moreover, toy sales among all adults have increased by 25 percent, just slightly less than the teenage group, which has seen a 33 percent growth.
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Changes in Toy Consumers
Current trends indicate that toys are increasingly viewed as entertainment and social experiences rather than traditional children's products. Kristen McLean, Senior Vice President of Customer Insights at Circana, stated, "We are seeing that toys are increasingly functioning as entertainment, advocacy ecosystems, and social experiences." These changes have led to an expanded consumer base and created new opportunities for manufacturers and retailers.
Toys 'R' Us did not specifically mention adult collectors in its announcement. Leading toy brands include Pokémon, major sports leagues such as the NFL, FIFA, and MLB, Marvel, Star Wars, Hot Wheels, and LEGO Botanicals. The chain will offer toys from brands such as LEGO, Barbie, Hot Wheels, Pokémon, and KPop Demon Hunters.
At its peak, Toys 'R' Us had over 1,000 locations in the United States, but declared bankruptcy in 2017 due to competition from larger rivals like Walmart and Amazon, as well as declining sales in physical stores. Currently, Toys 'R' Us is managed by WHP Global, a group backed by private investment that also manages brands like Babies 'R' Us and a collection of fashion brands such as Express, Marc Jacobs, and Vera Wang.
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