Celebrating the holidays might be pretty ho-hum, but one area thatâs booming is toys.
After a terrible year of remote school, canceled birthday parties and little vacationing, parents and grandparents ridden with so-called âCOVID guiltâ are spending a lot more on puzzles, crafts and games. And this is setting up the U.S. industry for its best Christmas in years â and maybe ever.
âIâve been in the toy industry for 30 years, and sales are just about as good as Iâve ever seen them,â said Jay Foreman, chief executive officer of closely held toymaker Basic Fun. Retail purchases of his companyâs toys, including Tonka trucks, have been up more than 30% since August and show no signs of slowing down, he said. âToys are a way for parents to treat their kids when they are so worried about whatâs going on in the world.â