Annual toy sales in the US are expected to rise by 6.2% this year.
The NPD Group said annual toy sales are predicted to hit $19.9 billion in 2015. Up 4% from last year, this is the biggest increase in at least 10 years since the group has tracked toy sales using its current system.
The sales growth is fuelled by better technology, growing popularity of collectibles and toys based on Hollywood blockbuster films, such as Frozen. This comes after sales slowed down in the past 10 years, as children became more absorbed in technology.
In lieu of this, toymakers are using chip technology, which is getting cheaper and more powerful in toys. They are also focusing on obtaining the attention of the increasingly influential pre-teen age group.
Jim Silver, editor-in-chief of TTPM, an online toy review site, said: “The selection is much greater than in the past. Technology is much better in the toy aisle, and it’s really inspiring young kids to play but also bringing older kids to things like radio control and role play items.”