Children’s spending falls this year, but toys not hit as hard as some other categories, reveals new report.

A new survey of children age 5-16 shows that children’s spending has dropped across all 16 measured spending categories year on year – but toys are one of the least affected.

The 2018 Childwise Monitor report found that fewer children are receiving pocket money or adhoc handouts this year – but those that are still getting an income are getting slightly more than last year. The average weekly pocket money is £11.20 per week – up from £9.70 a year ago.

Simon Leggett, research director at Childwise, commented: “Parents are tightening their belts and are exerting more control over how their children spend money, leaving children with less disposable income as a result.”

The 2018 Childwise Monitor data shows that only three in ten children ever buy toys for themselves, falling marginally from last year. One in six children bought toys for themselves over the previous month, the same proportion as last year. More than a third of 5-16-year olds have toys bought for them by other people, falling after a rise to four in ten a year ago.

Boys and girls are equally likely to buy toys for themselves this year. Self-purchase of toys peaks among more than half of 5-6-year olds, falling across the age range to fewer than one in ten teenage children ever buying.

Three new construction sets will be revealed for the first time at Nuremberg Toy Fair.

Universal Brand Development (Universal) and the Lego Group announce the launch of their largest Jurassic World partnership to date, offering an expanded line of construction sets, all-new animated content, and, for the first time ever, a lifestyle collection.

In anticipation of the upcoming global theatrical release of Jurassic World: Fallen Kingdom in June, Universal is building upon the success of Lego Jurassic World, with the debut of construction sets that span every Lego age category, as well as two all-new, animated videos, and a collection of soft lines and publishing to reach audiences beyond the toy aisle.

Vince Klaseus, president of Universal Brand Development, commented: “Fans embraced Lego Jurassic World with our initial product launch, and we couldn’t wait to come back and give them more of what they love with new ways to play and new opportunities to interact with the brand. The expansion of our partnership reflects Universal’s objective to create lifestyle programmes and engaging fan experiences that reach every age category, 365 days-a-year.”

In support of the theatrical launch of Jurassic World: Fallen Kingdom, Universal and the Lego Group will launch 13 constructions sets that span across the various Lego play categories: Lego Systems (ages 6+), Lego Juniors (ages 4-7) and Lego Duplo (ages 2-4), plus a collectibility offering with Lego BrickHeadz, available this spring only at Walmart. The sets will hit shelves in April, with retailer exclusives at both Toys R Us and Walmart. Additionally, fans will find new soft line and publishing offerings available later this year.

The world record for yo-yo loop the loops was smashed on the first day of London Toy Fair, at the Wilton Bradley stand.

Yo-yo champion and founder of the Yo-Yo Factory, Hans Van Dan Elzen, performed 159 loop the loops on the Wilton Bradley stand, beating the previous record of 151.

Watched by four camera crews, photographers and a crowd of well-wishers, Hans proved he is still the man to beat when it comes to yo-yo tricks.

Wilton Bradley is seeing an upsurge in interest in the classic toy in the wake of the fidget spinner craze.

Simon Hampson, head of sales and marketing for Wilton Bradley, commented: “We were delighted to have Hans and his colleagues Gentry Stein and Anne Connelly on the stand. Yo-yos are the original spinning toy and sales indicate the interest from a new generation, especially with Youtube videos and ‘how to’ vlogs showing how it’s done.”

The festival is a new two-day event for the toy design community.

The two-day festival will boast a conference looking at design, creativity and innovation, and a day where designers can pitch their concepts to companies.

Taking place at London’s Emirates Stadium over Monday, 10th September and Tuesday, 11th September, the first day of the Festival will host the Toy & Game Design Conference. This is a day set to inspire, enlighten and wow the industry’s creative backbone, with a line-up of speakers from across toys, games, tech, and the wider worlds of design.

The following day, Tuesday 11th September , will host the Mojo Pitch, a day where designers, inventors, and creative agencies can showcase their new exciting concepts to a range of different participating toy and game firms, tech start-ups, IP owners, retailers, and investors. The firms involved will be sending out wish-lists ahead of the event to ensure designers are up to speed with the wants of those they’ll be pitching to on the day.

Mojo Nation co-founder Billy Langsworthy, commented: “I’m incredibly excited to announce the first ever Play Creators Festival. As the only event of its kind in Europe, it’s the perfect place for designers to network, pitch ideas and get inspired by creators from their own sectors, as well as those from other realms of play. Be it toy inventors, game designers or those bringing innovation to the sector via cutting edge technology, the Play Creators Festival will be a must-attend event and we’re looking forward to revealing our incredible line-up of speakers, and firms involved in the Mojo Pitch, in the coming weeks.”

Full-year loss set to be larger than originally expected after disappointing Christmas trading.

Sales over the key festive period were below management expectations, due to a reduction in discounting and a continuation of late product deliveries.

The company said that its autumn move to stop selling large quantities of stock at a discount in order to protect the brand had not picked up steam just yet, despite claiming “overwhelming support” for the change.

Hornby said rebuilding trust in the pricing architecture takes time, and some of its retail partners were “taking longer than others” to accept the new approach.

Progress has been made on the ongoing cost base though, with the new management team reducing fixed overheads by £1.7m, saying further trims are on the cards.

Hornby’s interim chairman and chief executive Lyndon Davies, said the firm “remained committed to the strategy that was outlined in the half-year results”.

“The design and production cycles are long in this business and whilst we are excited about the products we have in the pipeline, it will take time for the new products to come through and for the trust with our customers to be fully rebuilt,” he said.

He continued: “The change in strategy has meant that the Christmas trading period was tough and there is likely to be some more volatility as we find out how off-peak trading performs for the first time in years without discounting. Despite this, we are determined to weather the storm and come out the other side with stronger brands, loyal customers, a leaner cost base and a better foundation from which to build a profitable and growing business.”

In November, Hornby called for £12m of funding from its owners after reporting increased losses and rising levels of net debt.

Tony Eves said the supplier is closing down through its own choice, and staff and suppliers will be paid in full.

Tony, founder of Cuckoo, commented:

“It is with a sense of satisfaction tinged with a little sadness that I am announcing that as of the 31st March 2018 I will be closing the doors of Cuckoo Ltd for the last time.

As there is no one in my immediate family who would like to continue to take the business forward and with the lease on my warehouse coming to an end, not to mention a quote from one of the Cuckoo guys fifteen years ago (we’re not getting any younger you know) it seems like a logical time to call it a day and chill.

I started my life in sales in 1972 (a fair shift I think) so, have seen quite a few developments in retail, especially as my first job on the road was supplying record shops with posters of rock and pop stars.

I’ve been incredibly fortunate to work with some really fantastic people, from our suppliers round the world and in the UK, our people at Cuckoo and of course the people who made it possible, the customers, all of whom I thank.

I will be at Spring Fair for a couple of days as a visitor to meet with old friends and to thank the many great customers who have supported Cuckoo over the past thirty years.”

Cuckoo will be having a closing down sale. To take advantage of this, please contact info@cuckoo.ltd.uk, tel 01937 848460, fax 01937 841365.