Hobby & Toy Stores in the US - Industry Market Research Report

Hobby & Toy Stores in the US - Industry Market Research Report
Hobby & Toy Stores in the US

Players in the Hobby and Toy Stores industry retail products such as dolls, electronic toys, games, hobby kits and craft supplies. Industry revenue will likely trend downward over the past five years due to the continued penetration of e-commerce. However, despite growth in household finances and customer expansion, competition from e-commerce channels and mass merchandisers has absorbed much of the increased demand because they can offer low prices and one-stop shop convenience. Additionally, discount stores have emerged as the leading hobby and toy retailers during the five-year period. In 2020, despite the COVID-19 outbreak that posed more challenges to hobby and toy stores as some industry establishments were required to temporarily shut down, industry demand somewhat benefited from the need for at-home entertainment amid the shelter-in-place mandates. With the rollout of coronavirus vaccines and mass immunization efforts, industry revenue rebounded strongly in 2021. Overall, IBISWorld expects revenue for the industry to fall at an annualized rate of 0.9% over the five years to 2023 to $19.4 billion. However, in 2023 alone, industry revenue is anticipated to fall 0.1% due to an expected decline in leisure time.

Operators in this industry sell a broad range of toy and hobby goods, such as traditional dolls and toys, electronic toys (including video and electronic games), boardgames, hobby kits and craft supplies. These goods are retailed to the general public after they are purchased from domestic and international manufacturers and wholesalers. Companies that primarily retail used toys, fabric and sewing supplies or children’s apparel and furniture are not included in this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.