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Diversity And Innovation Buoys Toy Industry

04/01/2008

Tags: Marketing Services,

The toy industry is fueled with optimism. Following a tough year of recalls and solid competition from other electronic gadgets like iPod and video games.

Description

"The toy industry is fueled with optimism. Following a tough year of recalls and solid competition from other electronic gadgets like iPod and video games, this year?s Toy Fair 2008 showing seems to be a positive indication of the resiliency of the industry. Opening-day buyer attendance topped 9,200 this year, a 30% increase compared to 7,100 for the same day last year. Overall sales may be down but consumption in key segments is holding. Reyne Rice, a toy trends specialist with the Toy Industry Association (TIA), ""It continues to be a very big and diverse industry."" Rice along with others seems to have little concern with a slight dip in U.S. retail sales of toys which generated $22.1 billion in 2007, a 2% decline from the previous year."

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