Families choosing to holiday at home, rather than abroad, will boost pocket money sales.
Along with many of you, post-Brexit we at Keycraft anticipated an increase in UK tourism and in stay-at-home holidays. The data shows that this has been the case; bringing some much-needed good news for UK tourism and retailers.
According to a study by the Automobile Association, one in 14 people who had planned to holiday abroad changed their plans when a fall in the value of sterling hiked up the cost of travelling outside of the UK. The gradual increase in holiday taxes and concerns over security have been gathering over time, and a fall in the value of the pound seems to have been the icing on the cake for many.
It’s no surprise that one of the key groups to be hit is families. AA spokesman, Luke Bosdet, said: “Many still need a summer holiday, and British tourism will benefit more from switchers among this group of disappointed holidaymakers.”
This is good news for Keycraft’s customers for whom families are the key consumer group. Children will be looking for treats to spend their holiday money on, and pocket money toys are the ideal choice.
The additional good news is that, with the fall of the pound, the UK has also become cheaper and more attractive to overseas visitors. Even before the drop in sterling, nine million holidaymakers came to the UK from the EU last year (Source: Abta), accounting for £9.5bn of all overseas visitor spending. This year experts anticipate an increase in those numbers.
“I think a weaker currency, particularly the pound versus the Euro, is good news for tourism in this country,” said Nick Varney Chief Executive of Merlin Entertainments.
Factor in the great weather we are having this summer and we can’t help but see this as good news for those in the pocket money toy sector.
Learn more about our range of pocket money, impulse and novelty toys.
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