Sales of sub-£10 “pocket money” toys boomed last year, as cost-conscious parents and adult toy collectors turned to cheaper playsets and figurines to weather tough economic conditions.
According to new data from market research firm Circana, UK toy sales fell by 3.7 per cent to £3.4 billion in 2024, however lower-priced items performed strongly, with 80 per cent of all toys sold costing less than £15 and about 30 per cent less. £10.
The best-selling toy for the second year in a row was the Squishmallows plush range, which is usually priced under £9, showing how affordability has helped drive some brands. Families have cut back on impulse purchases after years of rising living costs, boosting demand for “loved toys and collectibles” over more expensive options, says Melissa Simmonds, executive director of British toys at Circana.
Crucially, a growing group of older gaming fans – known as ‘kids’, aged 12 and over – now account for almost 30 per cent of UK gaming sales. Their willingness to spend on more expensive building sets, especially advanced or licensed Lego sets, helped offset some of the decline in revenue. Building set sales rose 6 percent, boosted by Lego’s Botanics range of pink-themed sets, which appeal to a growing adult demographic.
Across the board, the demand for collectible toys continues unabated. One in five toys sold in 2024 were collectible, with prices averaging £7.59. Brands like Funko Pop! Sylvanian families have capitalized on the British love of collecting complete sets, while licensed lines from hit films and TV series – such as Despicable Me and Bluey – are also on the rise.
Kerry Atherton, Head of Public Affairs at the British Toy & Hobby Association, highlights the huge increase in “mini collectibles” – toys under 5cm tall – driven by the popularity of Lego minifigures and Funko’s Bitty Pop! ranges. “We’ve seen a lot of excitement around these little toys that offer a high ‘cool factor’ and a low price,” she said, noting an 18 percent increase in sales of small collectibles.
Despite a sales spree in late December, the UK gaming market recorded its fourth consecutive annual decline, reflecting a broader decline in retail sales volumes. Official data from the Office for National Statistics showed a 0.3 per cent month-on-month decline in December, the main shopping period.
“There is no doubt that these numbers were shaped by the unstable economic climate,” Atherton said, stressing that inflationary pressures and cost-of-living challenges extended across discretionary categories such as gaming. However, strong performance in the budget and collectible sectors suggests that when it comes to play time, British shoppers are simply cutting back on their shopping rather than pulling back.
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