Toy brands endure. Through recessions, the toy industry is generally robust and many big names including Lego, Scalextric, Subbuteo and Hornby, will have been through the likes of the current economic downturn before.
Retail Traffic Index (RTI) figures for December released by Synovate Retail Performance reveal the number of non-food shopping trips made in the month was down by just 1.3 per cent on 2007 and up by a huge 33.3 per cent on November’s footfall.
So when I asked the Twitterverse what brands they remembered from their childhood, I was not surprised but what the responses said:
elliotpearson Lego, Playmobil, Scalextric, Micro Machines, Tomy, Play-Doh, Mattel & others I’ve reminisced about on retro sites!
simonbarker Brands from childhood would definitely include Lego, Scalextric and best not forget Transformers…Dinobots were very cool!
Galvinatwindows Big Jim and action man!
femruto starsky and hutch (car and lunchbox), Sega, Commodore64, Atari
And I would imagine that if you were to ask the same question in 20 years time, the answers would be very similar.
What these brands have done over a long perios of time, is cultivate an image of standing for something, whether it be imagination, playing together or building something from scratc, and it sticks eith you from a young age, right through until you are buying toys for your kids.
“If it was good enough for me then, it must be good enough for them now”
There are many crazes that have come and gone, from marbles and pogs, to Tamagotchis and Yugioh cards, but they’ve not endured like the other toys mentioned previously. This is because the toy industry knows that if something becomes a craze, to make as much dollar from it as possible, before the furore dies down and children move onto something else.
This is where toys come into their own – they are just that little bit more exciting – they do more ‘stuff’ and can provide hours and hours of entertainment, giving parents value for money.
Toys are in it for the long term, and will survive more recessions than many other businesses, because whatever the financial hardships families go through, escapsim for children with toys will make a parent happy and sleep a little better at night knowing that their kids are happy.