Fiesta Crafts’ director, Andrew Bacon discusses some of his predictions, hopes and concerns for 2021.
It’s long been said that the toy industry is remarkably recession resilient, as parents will prioritise spending on their children. This was certainly in evidence last year, too – the toy market saw overall sales increase in value by 5%, with the biggest spike in sales coming during the first lockdown (+22%).
Total sales for the year were £3.3 billion, maintaining the UK’s position as the largest toy market in Europe and fourth largest globally, The NPD Group reported.
Challenges remain, however, although there are also positives and optimism among the trade, as Andrew Bacon, director of Fiesta Crafts acknowledges.
“After the year that we have had, I know that whatever issues we face, we will find a way through by finding ways to adapt and be creative,” he commented, citing higher shipping costs, unpredictable demand and more lockdowns as potential challenges going forward. “Once we are through all the lockdowns, I believe that the retailers who have survived will come out stronger.
“There will also be a greater appreciation for the value of physical shopping. Yes, online retail is more important, but this is a trend that has been happening for years and it has just sped the process up – it has been a wake-up call for many.”
Andrew’s hope is that we will all have learned many valuable lessons from 2020, which will make businesses stronger going forward.
When it comes to product, the company has high hopes for its new 3D Mask Craft Kits (pictured) which are new for this year.
“I feel that generally people are much more personal in their interactions and I hope that continues as it makes business much more pleasant and gives a deeper understanding of how much we all need each other to survive and thrive,” he said.