Unfortunately, holiday toys are expected to be much harder to find this year because of delays in shipping. Oh I know…brace yourself. We are talking about Christmas already and the kids are barely back in school.
According to Money.com, the CEO of MGA Entertainment Isaac Larian said, “There is going to be a major shortage of toy products this year… The demand is going to be there. What is not going to be there is the product to fill the demand.”
The supply chain for toys right now is overwhelmed. The reasons why include labor shortage, a global chip shortage, and higher costs for transportation and shipping.
Despite this though, the demand for holiday toys will be the same as it always has been. In 2020, during quarantine, retail sales during the holidays grew by 8.3% compared to 2019. So, ultimately, COVID-19 hasn’t taken away our need to buy presents for our loved ones!
But, you might have to brace yourself again because all this means you actually need to start buying your kids’ gifts NOW. You should also prepare for toys to be more expensive this holiday due to a combination of shipping challenges and high demand.
What is the earliest you have ever shopped for the holidays?