Toy market news

The Toy Association supports members amid global shipping crisis

By Kristin Morency Goldman

With toy manufacturers struggling to get their products on boats to the U.S., retail inventories dwindling, and consumer demand surging, the toy industry is eyeing the fourth quarter with grave concern.

“Over the past several months, The Toy Association has been talking with government agencies and corporate entities about the ongoing shipping crisis,” said Ed Desmond, executive vice president of external affairs at The Toy Association. “Although much remains out of our control - from a global lack of ships and containers, to staggering wait times at the ports, to the continued impact of COVID-19 on the workforce, to skyrocketing freight rates - we are certainly doing everything we can to sound the alarm among authorities, and to help our members navigate the crisis as they plan for the holiday season.”

This summer, The Toy Association sent letters to all 535 Congressional offices, urging them to prioritize developing and implementing both short-term and long-term solutions to resolve this emergency, especially as shipping for the holiday season is set to accelerate in the fall months. The Toy Association has also remained in regular contact with its partners in the global toy community. At the June 10 International Council of Toy Industries (ICTI) Annual General Meeting, the shipping predicament was a key topic of discussion among the various impacted countries.

anbmedia.com