Industry Analysis & Industry Trends
Continuing a trend from the past five years, independent hobby and toy stores will find it increasingly challenging to compete with mass merchandisers and department stores, which offer lower prices and convenience. Over the next five years, changing consumer preferences will create tough market conditions for industry operators, as children begin to demand more adult-focused products, like electronics and media players. Still, greater demand from baby boomers and increasing disposable incomes will benefit the industry... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Hobby and Toy Stores industry is in the declining stage of its life cycle. Over the 10 years to 2019, industry value added, which measures the industry's contribution to national GDP, is expected to increase at an annualized rate of 1.1%. This rate indicates that the industry will likely grow slowly, as the total US economy is expected to grow by an estimated 2.7% annually on average during the same period. Over the 10 years to 2019, IBISWorld expects decreased demand for industry products and a reduction in the total number of industry enterprises to characterize the industry; these factors both indicate an industry in decline.
By providing comparable products at low prices, large external retailers have attracted price-sensitive customers away from this industry... purchase to read more