Boxed chocolates, educational toys to lead holiday sales in 2024

Boxed chocolate assortments are set to reach $23.9B this year.

Boxed chocolate assortments and educational toys are expected to be the top sellers this Christmas as consumers become more selective with their purchases.

According to Euromonitor International, consumer spending is set to rise, with over one in three people globally intending to spend rather than save, the highest level since 2015.

Boxed chocolate assortments are emerging as a standout category, with global sales projected to hit $23.9b in 2024, a 6.5% increase compared to last year. The holiday season is a critical period for this market, often paving the way for extended demand into the summer months.

“We’re seeing the industry's efforts to streamline innovation pipelines, and this is leading to new snack product launches that focus on format, shape and flavour,” said Carl Quash III, head of snacks and nutrition at Euromonitor International.

“Consumers are still doing more research prior to a purchase, channel swapping and price shopping for the best deals,” he added.

Miri Eliyahu, snacks research consultant at Euromonitor, also pointed to limited-edition holiday offerings, such as chocolate advent calendars, as a major driver.

Affordable indulgences, including toys and video games, are providing an escape for children and adults alike. This trend aligns with the "lipstick effect," where small luxuries bring comfort during uncertain times.

Educational toys, in particular, have also gained traction as parents view them as investments in their children’s growth.

Sales in the educational toy market are forecasted to surpass $3b by 2025, driven by a growing preference for toys that combine fun with learning.

“This Christmas the toy industry is poised for remarkable success, fueled by a combination of innovative products, nostalgic appeal and the enduring power of play,” said Loo Wee Teck, head of toys and games at Euromonitor.

“The expected boost in sales will provide new opportunities helping toy manufacturers and retailers to recover from a slow start in 2024,” he said.