Chicago, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Circana™, the leading advisor on the complexity of consumer behavior, today announced that retail sales for the U.S. juvenile products industry declined by 11% in 2023 to $7.6 billion. However, sales remain 9% higher than 2019 levels, at a five-year compound annual growth rate of 2%. Unit sales also decreased in 2023, down 9%, while the average selling price of $19.33 also declined by 2%.
All seven categories tracked by Circana saw sales decline in 2023. The best-performing category was travel, which was down 7% yet up 6% compared to 2019. Feeding, the second-largest category, had the slowest decline of 5% and the second-fastest growth rate of 23% compared to 2019.
“Despite the headwinds the industry faced in 2023, marked by significant retail disruption with factors including buybuy BABY’s liquidation, we continue to see room for growth in several key categories, including travel and feeding,” said Stephen Hinz, executive director, Juvenile Products, Circana. “While retail sales experienced a notable decline last year, the four-year growth rate remains positive, revealing that consumers remain committed to providing for their families.”
In 2023, car seats were the largest contributor, with $1.3 billion in sales, followed by strollers. Bedding saw the largest decline, dropping by 22% or $85 million, followed by health and grooming, which was down 21%. Bottles/nipples was the only subcategory in the top 10 to experience growth, with an increase of $8 million (2%).
About Circana
Circana is the leading advisor on the complexity of consumer behavior. Through unparalleled technology, advanced analytics, cross-industry data and deep expertise, we provide clarity that helps almost 7,000 of the world’s leading brands and retailers take action and unlock business growth. We understand more about the complete consumer, the complete store, and the complete wallet so our clients can go beyond the data to apply insights, ignite innovation, meet consumer demand, and outpace the competition. Learn more at circana.com.
Circana Media Contact
Shelley Hughes
Email: shelley.hughes@circana.com
312-731-1782
Shelley Hughes Circana +1 312-731-1782 shelley.hughes@circana.com
