Every child’s life must have toys. Toys, which range from dolls to action figures to board games and puzzles, offer amusement, encourage creativity, and permit pretend play. Which age group, though, makes the most toy purchases, and how much do parents spend? Additionally, how much does it cost to launch an online toy business and how quickly can toys be sold? Let’s get started and find out.
Children 0 to 2 years old are the top buyers of toys, according to a recent NPD Group survey. Sales of toys are dominated by this age group (25%) and children ages 3-5 (22%). Children between the ages of 6 and 8 come in third, accounting for 17% of toy purchases, followed by children between the ages of 9 and 11. Teenagers and adults who buy toys for themselves or as gifts make up the remaining 21% of the market.
According to a RetailMeNot poll, parents spend $371 on toys for each child annually on average. This sum fluctuates according to the age of the child and the kind of toy. Dolls, for instance, can cost anywhere between $10 to $200, depending on the brand and features. While video games and consoles can cost hundreds of dollars, board games and puzzles typically range from $10 to $50.
Online retailers frequently sell toys. Toys can be listed on well-known e-commerce sites like Amazon, eBay, or Etsy in order to sell them quickly. Toy advertising and sales can be done on social media sites like Facebook and Instagram. Reaching a wide audience can be done affordably by advertising on these sites.
Depending on the customisation and features needed, opening an online toy business might cost anything from a few hundred to several thousand dollars. Simple e-commerce platforms like Shopify or WooCommerce can be used to rapidly and affordably set up a store. The setup and upkeep of more sophisticated platforms, such as Magento or Salesforce, can cost thousands of dollars.
In conclusion, parents spend an average of $371 annually on toys for each child, with 0 to 2 year olds being the highest consumers. Board games and puzzles often cost between $10 and $50, and dolls can cost anywhere from $10 and $200. Toys can be listed on well-known e-commerce websites or advertised on social media platforms to sell quickly. Depending on the customisation and features needed, opening an online toy business might cost anything from a few hundred to several thousand dollars.