Toy retailers are predicted to sell 5m fewer toys during the golden quarter, as households cut down the number of presents they buy.
Sales were down by 8% in value terms on last year in the 10 weeks to 10 December for toy retailers, according to The Guardian.
The quantity of products sold also dropped by around 10% over the same period, according to Circana.
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Executive director of UK toys at Circana Melissa Symonds said: “Everyone is just being a little bit more cautious with their spending. I don’t think people have not bought toys for their kids for Christmas but instead of purchasing four or five they’ve bought one or two.”
Christmas serves as a vital period for the sector, with as many toys sold during a week of December as during some months of the year.
The Entertainer founder Gary Grant was expecting a tough Christmas this year. He told The Times last month: “People just haven’t been in Christmas buying mode, plus they’re facing difficult decisions about how they spend their money.”
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