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We have talked at length about the baby products market being more recession resistant than most, and in the run up to Christmas, market analysts will no doubt be keen to put these claims under even closer scrutiny. Although purse strings have been tightened in the wake of the credit crunch and recession, the festive season is sure to see parents far and wide delving deep into their purses to put a smile on their little ones' faces at this magical time of year. Nursery Industry reports...
The pre-school market is a hugely lucrative one, not least at Christmas time. Babies, too young to know what they would like Santa to bring, will be inundated by toys from parents, relatives and friends, keen to make the day special for all concerned. Inspired no doubt by pre-school cartoons and books, the sale of licensed goods will soar, winning a loyal army of young fans destined to ask Mum and Dad to increase that spend in the months and years ahead.
An article by Susie Mesure in The Independent observed: "Retailers are pushing Christmas stock earlier than ever in an attempt to get a head start on the festive season - and tap the summer tourist trade at the same time. Some also hope that their strategy will help spread the cost for cash strapped consumers who might otherwise cut back on spending." While some argue that retailers need to get other seasonal events like Halloween out of the way before they start concentrating on Christmas, in the nursery market it is 'the season to be jolly' that brings the biggest increase in revenue, which is why you should jump on the bandwagon and start stocking up now.
A recent report by The Joseph Rowntree Association found that: "Children receive, on average, over £250 at Christmas, of which 37% (£96.30) is provided by people other than parents. Lone parents and parents on Income Support spend almost as much as other parents, except on secondary age children." That's quite some spend and reassuring also for retailers with a less wealthy demographic. What's more, parents are not your only target - a proportion of the toy and gift buying is taken up by family and friends, so be sure to stock a range with varying price points to cater for the taste and budget of each of these target groups.
"While the sceptics will argue that ‘top 10 toy' predictions are based on the buying decisions of the retailers rather than a genuine analysis of what really are the best buys of the moment, they certainly make for interesting reading," says Toy Shop UK. Indeed, whether you buy according to lists like these or not, it makes sense to arm yourself with as much information as possible before you start setting a few trends of your own.
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