Toy World sat down with Nicole Sweeney, category manager – Boys & Outdoor Toys, to find out how Very is approaching 2024 and what makes it a retailer of choice among spending-savvy parents.

In early January, The Very Group announced its Christmas and Black Friday period results. Despite incredibly challenging conditions in the marketplace, with financial pressures putting the squeeze on families across the UK, Very UK retail managed to grow its sales +3.4% YOY, supporting group retail sales growth of +2.1% YOY. This deeply impressive performance bucked the overall UK online non-food retail market trend and represented growth in market share during the period, much to the delight of Nicole Sweeney.

“Toys, Electricals, Gifts and Beauty were the standout performers for us over the peak period, with Toys growing +8% and outpacing a really tough retail landscape,” she enthuses. “It’s worth noting that that growth was off the back of double-digit growth in 2023: when you’re going up against such big numbers you can’t help but be pleased with that kind of performance.”

The reasons behind this performance are varied. Firstly, the retailer invested heavily in Q4 stock and ensured it arrived earlier than usual, guaranteeing its customers would be able to get their hands on the toys and games they really wanted for Christmas. Very also collaborated closely with its suppliers to curate assortments they knew would sell through strongly, particularly at sub-£20 price points, meaning it has come into Q1 with very clean stock levels.

Q1 2024 has got off to a great start for Very, according to Nicole, who explains that Very customers tend to react very positively to early-year product launches. Lego’s Q1 launches have been particularly impressive in terms of their variety, and new Pokémon launches are appealing strongly to kids and kidults alike.

The Very Group also bagged its third consecutive Online Excellence Award at January’s Toy Industry Awards. Nicole and her team, which includes Anne-Marie Edwards, category manager – Girls & Pre-School Toys, were visibly over the moon to once again be taking to the stage to collect their trophy.

To continue reading Nicole’s observations and what Very has to offer, click here for the full article, which appeared in the April edition of Toy World.