Toy stores gear up for busy Easter period
Toy stores expect record revenues this year in the Easter period, according to distributors. Although web store revenues are growing, most parents are still buying Easter presents in traditional stores.
This year customers will probably spend around HUF 4,000-5,000 on average during Easter, while those shopping via web stores can be expected to spend around HUF 9,000, János Borhi, CEO of toy distributor Formatex, told business daily Világgazdaság.
Last year Formatex had total revenues of HUF 4.4 billion, of which 15% were generated in the pre-Easter period. This year wholesale revenues of Formatex are expected to be 15-20% higher, while retail sales growth in the Játéksziget stores owned by the company is estimated at 8%, Borhi said.
Total turnover last year of the Hungarian toy market, according to preliminary estimates, reached HUF 45 bln, following a 4% growth, with Formatex ranking third, after Lego and Regio Játék, both with HUF 10 bln. Other players with revenues above HUF 1 bln were Mattel, Modell & Hobby, Simba and Piatnik.
As for web stores, some 259 companies in Hungary are active on the toy retail market and 196 produce toys, with a total headcount of over 4,800 employees, Világgazdaság noted.
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