Sales of toys and games in non-store retailing in Canada saw variable growth from 2013 to 2023, with a notable peak in 2016, followed by a dramatic decline in 2017. Over the last two years (2021-2023), the market showed modest increases of approximately 1.24% and 1.28% year-on-year respectively. Despite fluctuations, the 2023 sales value stood at CAD 168.49 million, showing stability in recent years. The compound annual growth rate (CAGR) for the last five years averaged 1.32%, indicating steady, albeit slow, growth. Forecasts predict a continued gradual increase, with a 0.98% CAGR over the next five years, reaching CAD 179.25 million in 2028.
Future trends to watch:
- Technological advancements such as augmented reality (AR) and virtual reality (VR) could drive new product developments and sales.
- Increasing online retail activities and consumer shift towards e-commerce post-pandemic.
- Rising importance of eco-friendly and sustainable toys impacting consumer preferences and market dynamics.
- Potential economic fluctuations and their impact on discretionary spending.
