Hobby & Toy Stores in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: February 2024
NAICS 45112Revenue
$52.6bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
264k
Businesses
48,248
Wages
$X.Xbn
Hobby & Toy Stores in the US industry analysis
Over the past five years, the Hobby and Toy Stores industry has seen a considerable shift. The rise of e-commerce has significantly altered how consumers shop, with many preferring the convenience, variety and easy access offered by online platforms. This shift has pushed traditional retailers to diversify their sales channels and increase their digital presence. The popularity of licensed toys and merchandise, inspired by popular film, television and gaming franchises, has also greatly impacted the industry, leading to robust demand and collaborations between toy companies and entertainment studios. Simultaneously, large discount retailers and mass merchandisers, aided by their national scale and direct connections with manufacturers, have become an increasing threat to hobby and toy stores. Still, hobby and toy stores that have successfully established an online presence and carry popular toys and hobby supplies have remained competitive and profitable. Over the past five years, industry revenue is expected to rise at a CAGR of 5.3% to $52.6 billion, including a bump of 0.8% in 2024 alone.
Trends and Insights
- Increased leisure time will support demand from older consumers over the next five years. As more baby boomers retire, they will spend more on hobby supplies and toys.
- Traditional toys are the largest product segment for the industry. This includes dolls, toy cars and other toys, but their revenue share has decreased as video games have become more popular.
- Like most retail industries, the distribution of hobby and toy stores falls broadly in line with the dispersal of the national population. Demand for hobby and toy stores is generally greatest in regions with more residents.
- Competition among toy and craft goods retailers intensified as internal and external competitors fought to win over consumers. Increased competition from online retailers and discount department stores has pressured profit as lower-priced comparable products increasingly lure customers away from traditional brick-and-mortar stores.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 5.3 % over the past five years, to reach an estimated $52.6bn in 2024.
Trends and Insights
E-commerce represents an opportunity and a threat to hobby and toy stores
- Over the last five years, the growth of e-commerce has significantly impacted the Hobby and Toy Stores industry. Online shopping has become a convenient and preferred alternative for customers, offering wider variety and easier access to products.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Evolving toys will support demand
- The development of new and innovative toys will drive revenue growth in the Hobby and Toy Stores industry over the next five years.
Biggest companies in the Hobby & Toy Stores in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Hobby Lobby Stores Inc. | 2,761.1 | 322.7 | 11.7 | |
Gamestop Corp. | 2,324.8 | -19.6 | -0.8 | |
Michaels Companies, Inc. | 881.5 | 80.3 | 9.1 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Toys, Hobby goods and Games (including electronic and video games). Toys is the largest segment of the Hobby & Toy Stores in the US.
Trends and Insights
Toys' share of industry sales has fallen due to the age compression phenomenon
- This category of products contains various items that include wheeled toys, stuffed animals, dolls, toy weapons, magic supplies, children's vehicles and bicycles.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Fabric, Craft & Sewing Supplies Stores in the US
- Used Goods Stores in the US
- Small Specialty Retail Stores in the US
- E-Commerce & Online Auctions in the US
Complementors
- Toy, Doll & Game Manufacturing in the US
- Toy & Craft Supplies Wholesaling in the US
International industries
- Hobby & Toy Stores in Canada
- Toy and Game Retailing in Australia
- Toy and Sporting Goods Wholesaling in New Zealand
- Toy Retailing in the UK
Table of Contents
About this industry
Industry definition
Operators in this industry sell a broad range of toy and hobby goods, like traditional dolls and toys, electronic toys (including video and electronic games), boardgames, hobby kits and craft supplies. These goods are retailed to the general public after they are purchased from domestic and international manufacturers and wholesalers.
What's included in this industry?
ToysHobby goodsGames (including electronic and video games)OtherCraft suppliesCompanies
Hobby Lobby Stores Inc.Gamestop Corp.Michaels Companies, Inc.Purchase this report to view all 4 major companies in this industry.
Related Terms
TWEENSAGE COMPRESSIONELECTRONIC DATA INTERCHANGE (EDI)DO-IT-YOURSELF (DIY)Industry Code
NAICS 45112 - Hobby & Toy Stores in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Increased leisure time will support demand from older consumers over the next five years. As more baby boomers retire, they will spend more on hobby supplies and toys.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Traditional toys are the largest product segment for the industry. This includes dolls, toy cars and other toys, but their revenue share has decreased as video games have bec...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Like most retail industries, the distribution of hobby and toy stores falls broadly in line with the dispersal of the national population. Demand for hobby and toy stores is ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Competition among toy and craft goods retailers intensified as internal and external competitors fought to win over consumers. Increased competition from online retailers and...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Michaels Stores and Hobby Lobby are the two leading craft supply companies. Both of these stores run a large number of stores nationwide.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Hobby Lobby Stores Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Gamestop Corp.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Michaels Companies, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Hobby Lobby Stores Inc., and factors influencing its performance in the industry
- Description and key data for Gamestop Corp., and factors influencing its performance in the industry
- Description and key data for Michaels Companies, Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Hobby and toy stores are not subject to many industry-specific regulations. Stores must adhere to all common safety and employment laws and acquire any necessary licensing.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
As the competitive environment intensifies, profit will be vulnerable as operators engage in competitive pricing strategies. Also, the growing emphasis on e-commerce will fur...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Hobby & Toy Stores in the US industry in United States in 2024?
The market size of the Hobby & Toy Stores in the US industry in United States is $52.6bn in 2024.
How many businesses are there in the Hobby & Toy Stores in the US industry in 2024?
There are 48,248 businesses in the Hobby & Toy Stores in the US industry in United States, which has grown at a CAGR of 5.2 % between 2019 and 2024.
Has the Hobby & Toy Stores in the US industry in United States grown or declined over the past 5 years?
The market size of the Hobby & Toy Stores in the US industry in United States has been growing at a CAGR of 5.3 % between 2019 and 2024.
What is the forecast growth of the Hobby & Toy Stores in the US industry in United States over the next 5 years?
Over the next five years, the Hobby & Toy Stores in the US industry in United States is expected to grow.
What are the biggest companies in the Hobby & Toy Stores in the US market in United States?
The biggest companies operating in the Hobby & Toy Stores market in United States are Hobby Lobby Stores Inc., Gamestop Corp. and Michaels Companies, Inc.
What does the Hobby & Toy Stores in the US in United States include?
Toys and Hobby goods are part of the Hobby & Toy Stores in the US industry.
Which companies have the highest market share in the Hobby & Toy Stores in the US in United States?
The company holding the most market share in United States is Hobby Lobby Stores Inc..
How competitive is the Hobby & Toy Stores in the US industry in United States?
The level of competition is high and increasing in the Hobby & Toy Stores in the US industry in United States.
