Toy Industry Sales Drop 2% In 2018 Hurt By Toys R Us Closure

(RTTNews) - Toy industry sales slipped 2 percent last year hurt largely by closure of toy retail giant Toys R Us.

According to market researcher NPD Group, toys worth $21.6 billion were sold in 2018, less than the $22 billion generated in 2017. The 2 percent decline comes after four straight years of growth in the toy industry.

"After the liquidation announcement of Toys?R"Us last year, there was a great deal of speculation about what would happen to the industry, with some predicting double-digit declines," Juli Lennett, vice president and industry advisor at NPD Group, said in a statement.

Sales performance across super-categories in 2018 showed mixed results, with four out of 11 posting growth. Gains were seen in Action Figures and Accessories, followed by Dolls, Youth Electronics, and Arts and Crafts.