Too Many Toys
There’s no pain quite like stepping on a LEGO brick, and unfortunately, it’s a feeling parents are all too used to. Many parents of young children face a unique problem: Their kids have too many toys.
With the prospect of accumulating even more things this holiday season, it’s a good time to ask why toys are so cheap.
What Inflation?
Consumers have had to contend with high inflation for years now. But toys have bucked the trend. In fact, they are significantly cheaper than they used to be.
Toys have experienced notable deflation over the past 30 years, according to the U.S. Bureau of Labor Statistics, which tracks the inflation of various goods and services. Overseas productions and low manufacturing costs have brought prices down: A toy that cost $20 in 1993 would set parents back a mere $4.68 today.
This price drop is both a blessing and a curse for young parents. Lower price tags don’t necessarily mean parents are spending less on toys, just that they’re getting higher quantity and lower quality for their money.
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