Parents want to treat their kids despite high toy prices
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Oct 27, 2021
Parents want to treat their kids despite high toy prices

From social isolation to being stuck inside to cancelled 2020 Christmas plans, the pandemic has taken its toll on kids. So although the pandemic and supply issues have driven the prices up on most goods, parents are still keen to treat their children by splashing out on toys where they can.

COVID-19 has caused significant disruptions in shipping and supply chains. This has forced many retailers to increase prices to compensate for the extra measures they're taking to overcome these challenges. Despite the uncertainties and financial hurdles, people are still willing to spend on their children. Toy giant Mattel has seen a strong sale of Barbie dolls and Hot Wheels cars and a steep 50% growth in franchises like Jurassic World and Masters of the Universe. Due to this demand, the toymaker has been able to involve more freight containers and ports in its supply chain so that its customers have a proper holiday season with lots of gifts under the Christmas tree. "We were impacted by global supply chain disruptions," says Ynon Kreiz, Mattel CEO. "But we worked through them."