NEWS

Exclusive: Viewpoint – grandparents’ toy spend

Published on: 7th June 2022

Moneeba Baloch, Consumer Insights director at Kantar, explores how grandparents are helping out when it comes to treating the kids.

Official data from the Office for National Statistics shows that inflation soared at its fastest rate for 30 years in February. As high street prices rise, almost 60% of households are now worried about spiralling costs and, as parents’ budgets are squeezed, they may spend less on toys. However, rather than families choosing to go without, we are seeing grandparents stepping in to help plug the gap. If retailers and manufacturers want to protect their share of wallet in the coming months, then understanding this key demographic and what drives its purchase choices is vital.

As ever, having the right product range and positioning on shelf will be key to grabbing attention. Special placement of toys that span the generations could encourage a nostalgic purchase. Similarly, placing interactive toys and games on the shop floor will make the experience fun at a time when families are trying to watch their pennies during days out.

High street retailers who shape their product strategies and shop floor with grandparents in mind will be best placed to get this vital demographic through their doors and feel the benefit at their tills.

To read Moneeba’s full article, which appeared in the June edition of Toy World, click here.

 

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