Waiting Until the Last Minute Could Cost Parents 7% More
Parents who wait until the week before Christmas (aka “Panic Week”) to do their holiday shopping can expect to pay an average of 7% more for popular kids’ toys. This, according to new data from ecommerce accelerator, Pattern.
Why it matters: As the holidays approach, it can be difficult to set aside enough time to check off everything on the wish list. However, taking the time to shop before the final week before Christmas could end up saving parents a significant amount of money.
What we’re seeing: Our team analyzed the price of the most popular kids’ toys purchased on Amazon U.S. Marketplace during Panic Week and compared this data to the average price for the entire year of 2022 to find out what parents can expect this year. Based on our findings, here’s how prices for 2023’s most popular toys are expected to increase during the final week before Christmas:
- Elsa Dolls increased in price by 18% during Panic Week compared to the 2022 average
- Furby +14%
- Trouble Board Game +13%
- Belle Doll +8%
- Tracing Pad +6%
- LEGO Holiday +4%
- Sorry Board Game +4%
Yes, but: Despite many kids’ toys seeing a price increase, there are some deals that parents can find while doing their last-minute holiday shopping. Here are some price drops to look out for:
- Elf on the Shelf toys decreased in price by 2% during Panic Week compared to the 2022 average
- Kanoodle -2%
- Wooden Blocks -2%
- Slinky -3%
- Magic Mixies -9%
- Nerf Gun -9%
The takeaway: While there are some deals that can be found during the final week before Christmas, parents can expect to pay a higher price for most popular kids’ toys during Panic Week. Those planning to fulfill their holiday wish lists should aim to do so well in advance to avoid price increases during this time.
- Pattern’s data science team analyzed pricing data on Amazon during every day of 2022 and 2023 so far to understand what parents can expect to pay for 2023’s most popular toys if they wait until the last minute to do their shopping. If you’re interested in using insights like these to drive your ecommerce strategy forward, contact our team to learn more today.
