Christmas 2015 is most expensive year so far for popular toys
New research from money saving website Voucherbox.co.uk shows that the cost of the ‘12 Dream Toys for Christmas 2015’ which is determined by the Toy Retailers Association is the highest it has been in the past 10 years, with an increase of 28% compared to 2014, where the average price per toy has risen from £46.32 to £59.32.
Pressure may well be felt by parents with such high prices, as well as the rising cost of toys over the years. Prices are getting even steeper on an individual basis in 2015, the Star Wars The Force Awakens Millennium Falcon from Hasbro is the most expensive toy ever on the Toy Retailers Association Dream Toys list with the recommended retail price at a massive £119.99.
The research also shows that there has been a 56% increase from 10 years ago in the average price of Christmas Dream Toys from £37.91 to £59.32. The second most expensive year in the last 10 years was 2012 with an average cost of £50 per toy in the top 12 recommendations.
The average cost of Britain’s most popular toys this Christmas is almost triple what most Brits are planning to splash out. Consumers intend to spend on average £21 per toy, however the average price of a toy from the 2015 most popular Christmas toys list is close to three times that amount at nearly £60.
Further analysis from the survey of 2000 UK shoppers revealed that the average person will purchase five toys this Christmas and will spend a total of £107.63.15% of Brits will pay out more than £200 on toys this Christmas, with the North East set to spend the most compared to the rest of the UK, despite it being one of the poorest regions in the country.
A generous 16% of Brits are planning to splurge over £300, with the 35-44 age group planning to spend the most on toys this holiday season, followed by 45-54 year olds.
More than a third of Britons get into debt over the Christmas period by spending more than they can afford. The sale of toys at Christmas amounts to £1bn, which is 32% of the annual sale of toys in the UK.
The top 12 Dream Toys are released every year by the Toy Retailers Association and receive national television, radio and print media coverage across the UK as the predicted most popular toys. The list of dream toys is decided by a panel of retailers, made up of large chains, large and small multiples, as well as independent retailers. Popular toy brands to feature often over the years have included models from Hasbro, Lego, Character Options and Mattel.
Shane Forster, UK Country Manager for Voucherbox.co.uk commented, “This increase in the cost of recommended toys can put pressure on parents to spend more than they can afford. Christmas overspending will have an impact on the whole year and so we encourage consumers to aim to strike a good balance between keeping your children happy and maintaining a healthy bank balance.”
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