Will toys have their biggest year this Christmas?
Not sure what will be the hottest commodity this holiday season? If you ask Walmart U.S. CEO and president, Greg Foran, it will be toys. According to the 35-year retail veteran, toys will have their biggest year in history.
“I think this department is probably going to be in for the biggest Christmas it has had in a long time. And we’re already starting to see it,” he told reporters on a tour this week of a Walmart in Secaucus, N.J. as he stopped in the toy section.
Foran’s bold statement is based on his observations of how electronics have grabbed the attention of kids over the last few years. Mobile phones, tablets and other electronic devices have been all the rage, and toy makers have taken notice.
“I think a lot of it is because of the electronic componentry now getting put into these toys, and they’re becoming interesting again for customers”, Walmart’s CEO remarked when asked how toys will do this year.
It remains to be seen, but according to the NPD Group the U.S. toy industry is poised to grow by an impressive 6.2 percent in 2015, so sellers beware, there might be some truth to the prediction.