- One in three consumers say they would rather spend money than save it this year
- Global chocolate boxed assortments sales are expected to grow 6.5%
- Sales of toys and games set for ‘remarkable success’ projected to grow by 4.2%
- Children and adults choose toys and video games to increase creativity and help deal with stress
London, UK – Boxed assortments and educational toys are expected to be the top sellers for the Christmas holiday season this year as consumers become more selective with purchases according to data analytics firm Euromonitor International.
According to Euromonitor’s Voice of the Consumer: Lifestyle Survey 2024, more than one in three consumers globally say they would rather spend money than save it this year, the highest tracked intention to spend money since 2015.
Chocolate boxed assortments are shaping holidays spending trends
The holiday season is critical for boxed assortments where success leads to opportunities to extend chocolate gifts into the summer holidays. According to Euromonitor data, global boxed assortments sales are projected to reach USD23.9 billion in 2024, reflecting a 6.5% increase compared to last year.
Carl Quash III, head of snacks and nutrition at Euromonitor International said: “We’re seeing the industry's efforts to streamline innovation pipelines, and this is leading to new snack product launches that focus on format, shape and flavour. Consumers are still doing more research prior to a purchase, channel swapping and price shopping for the best deals.”
“The surge is driven by limited-time holiday offerings, such as chocolate advent calendars, which have gained popularity and are accessible across audiences with the availability of both premium and affordable alternatives,” adds Miri Eliyahu, snacks research consultant at Euromonitor International.
Affordable indulgence offers comfort during uncertain times
Toys and video games offer an affordable escape sparking creativity and offering a much-needed distraction from the stresses of daily life for both children and adults alike. This trend mirrors the ‘lipstick effect’, where affordable indulgences provide psychological comfort during uncertain times.
In uncertain economic times, parents prioritise toys with educational benefits, seeing them as a worthwhile investment in their child's development. This trend is fueling strong growth in the educational toy market, with sales projected to exceed USD3 billion in 2025.
Loo Wee Teck, head of toys and games at Euromonitor International, said: “This Christmas the toy industry is poised for remarkable success, fueled by a combination of innovative products, nostalgic appeal and the enduring power of play. The expected boost in sales will provide new opportunities helping toy manufacturers and retailers to recover from a slow start in 2024. This momentum is predicted to continue into the new year, with toys and games sales forecast to reach USD300 billion in 2025.”
For more information see Euromonitor’s Food & Nutrition and Toys & Games insights page.
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