Toronto ON., January 26, 2023 – The NPD Group today announced annual sales results for the Canadian toy industry. Canadian retail sales of toys generated $2.39 billion in 2022, an increase of 1% compared to 2021. Unit sales declined by 4% and the average selling price of $19.06 was 5% higher than in 2021.
The increase in 2022 comes after the market experienced record-breaking growth over the last three years, including 9% growth in 2021 and 19% growth in 2020. This growth contributed to a three-year compound annual growth rate (CAGR) of 9%, driven by average selling price (ASP) growth of 8% and unit sales growth of 1%.
“2022 was another banner year for the Canadian toy industry. After three years of record-breaking growth, and despite significant economic challenges, Canadian consumers once again demonstrated how much they value the toy industry,” said Jeff Bowes, toy industry analyst, The NPD Group.
Looking at supercategory performance, five of the 11 supercategories tracked by NPD in Canada posted growth in 2022. Top growing super categories were plush, which lead the way with an increase of 41%, action figures and accessories with an increase of 20%, vehicles with an increase of 8%, youth electronics with an increase of 2%, and building sets with an increase of 1% compared to 2021.
The top toy properties of 2022 included Pokémon, Star Wars, Barbie, Marvel, Fisher-Price, Squishmallows, Hot Wheels, L.O.L. Surprise!, Paw Patrol and LEGO Star Wars. These top ten properties collectively grew 3%, while the rest of market was flat.