Seventy percent of toy purchases are planned, with the first decision consumers make being where to shop. However, for the 30% of toy purchases that are spontaneous, eye-catching packaging and product display influence the buying decision.
Those were the conclusions highlighted in “Toy Purchase Decisions,” a new report from market research company The NPD Group. The report was based on feedback from more than 2,300 respondents in a pre-identified sample of toy purchasers. The online survey was conducted June 2-9, 2009.
The report finds that more than 75% of toy shoppers who made planned purchases knew where they wanted to shop. Though 90% of these retailer-driven shoppers actually made the purchase where they originally planned, when asked what they would have done if the toy they planned on purchasing were not available, more than 40% said they would have looked for the same product in a different store.
Of the unplanned purchases, nearly two-thirds were influenced by an item-related factor. The primary reason was a child requesting a specific toy. But attractive packaging and an effective product display also were strong factors inducing purchase.
Packaging that enables consumers to interact with a product also is a more critical factor in toys than for some other categories; 78% of shoppers in the study say they prefer to purchase in stores rather than online because they want the ability to see and interact with the products prior to purchase.
Analysis of the results also shows that price point plays a significant role in making unplanned purchases, because the two categories with the most unplanned purchases also have the lowest average retail prices.
Toy-brand managers examining the value equation between product price and package quality also should know this: 70% of consumers say they have a price in mind when toy-shopping. Then they seek products that meet their price criteria.
“As we head into the critical holiday season, during which approximately 50% of annual toy revenues are generated, it’s important for manufacturers and retailers to understand just what it is that drives toy purchase decisions among parents and gift-givers,” says Anita Frazier, industry analyst for The NPD Group.
