Trade study: Juvenile products market on the rise |
Written by Christine D. Johnson |
Tuesday, 13 August 2013 06:15 PM America/New_York |
The U.S. market for juvenile products comprises approximately $2.8 billion in manufacturer sales for 2011, up from $2.7 billion the previous year, according to the Juvenile Products Manufacturers Association (JPMA), a trade organization of more than 250 companies in the United States, Canada and Mexico. “The juvenile business is impacted greatly by birth rates and growth continues to be slow, but steady,” said Michael Dwyer CAE, JPMA executive director. “However, parents prioritize value over prestige and are, for the most part, more focused on safety than fashion. Despite these economically challenging times, the purchasing of juvenile products is an area where people continue to place safety first and will make purchases in order to remain current with industry advancements and changing safety requirements.” Highlights of the study include:
With some parents delaying having children due to the economic uncertainty, companies got more creative in terms of product innovation, fashion-forward collections and new channels of distribution in order to stay profitable. In general, many companies are increasing their success through the introduction of new products and expanding their product portfolios. The study also found that technology is driving the development of new and better materials and is changing how consumers find and share information on new products. There has been a rapid shift to online sales in recent years and consumers often share what they find through social networks. Product categories in the study included infant toys, nursery décor, children’s furniture, high chairs, car seats, infant bedding. Overall, the sales figures show that the juvenile products industry remains a strong part of the American economy. |