Consumers can expect price increases of 5% to 10%, according to toy industry insider Jim Silver, CEO of Toys, Tots, Pets & More, a leading consumer video review site.
Despite toy shortages, supply chain concerns, and price hikes across the board, sales forecasts for the 2021 holiday season are more optimistic than ever, with projected sales for U.S. retailers increasing by 7 percent over last year’s—a figure nearly double the retail industry’s historical annual growth rate.
Experts recommend shopping early to secure the most important items on your holiday toy list this season, and encourage parents to stay on top of promotions from various retailers.
Some parents are heeding the warning, while others are taking the national toy shortage as an opportunity to try out the “need, want, wear, read” method, which limits the gift giving and helps families refocus on the “reason for the season.”
