Retail Trends from 2022 - What's Selling, What's Not?
Putting your best foot forward in retail means keeping a close eye on what consumers are loving. You also can’t ignore what isn’t getting so much attention. At DIG, we’ve taken a look at major retail trends from 2022 to identifying the bestsellers and the not so hot.
We pride ourselves on providing a variety of product catalogs, all tailor-made to supply on trend products that make people happy. Across the nation, people celebrate milestones and occasions every single day. There are also a number of major calendar events peppered throughout the year. All this means tons of potential to excite consumers and get them buying fantastic products.
Based on our product catalogs, we’ll take you through the buying patterns and trends of 2022, so you can have an awesome 2023!
Stationery
According to the Global Stationery and Cards Market 2022-2026 report, the stationery and cards market is poised to grow by $42.61 bn during 2022-2026. This means a CAGR (Compound Annual Growth Rate) progression of 4.42% during the forecast period.
Despite the growth in popularity of social media platforms, reports suggest millennials and Gen Z are most likely to get excited about stationery goods. This is perhaps due to an awareness of screen time, and a bid to reduce it. As such, stationery companies are focussing on a younger audience.
Journaling is a particular popular pastime for millennials, meaning notebooks and paper pads have sold well. This generation has a particular consciousness for environmental impact. As a result, recycled papers and eco-friendly stationery, like biodegradable pens, have proven popular amongst this demographic.
Whilst, in office settings particularly, paper has been swapped for digital alternatives, there has been a rise in sales of customized stationery. Ecommerce sites like Etsy display demand for monogrammed notebooks and business card holders.
Garden Gnomes/Outdoor
A report from the International Casual Furnishings Association found that Covid motivated 78% of Americans to upgrade their outdoor living space. The Outdoor Living Trends 2022 report from Fixr shares that 56% of experts believed creating indoor spaces outside was a top trend for homeowners. Outdoor dining came out on top within this trend, resulting in outdoor dining tables and chairs being a favorite.
Another major finding was that 69% of experts believed creating outdoor spaces that were usable all year was a top priority for homeowners. Items like fire pits, as well as cozy outdoor lighting, proved popular for al fresco relaxing, even in cooler months.
Retail trends for natural items appear to have been preferred over plastic ornaments. This means classic items such as garden gnomes or artificial grass aren’t so on trend unless a natural or sustainable alternative is met through the materials they are made from. That being said, ceramic garden gnomes sold well in 2022. Bird baths and wildlife feeders are popular for attracting creatures closer to home, as well as trellises for trailing plants.
Party goods
The pandemic certainly touched the party goods market in 2022, with consumers making up for lost time with nontraditional milestone celebrations. A focus on online presence has also fuelled the creation of photograph scenes at events.
Balloons are, unsurprisingly, still a popular choice for party planners, both professional and amateur. Rather than arches, the trend has moved towards multidimensional clusters. This promotes convenience and the ability to make an impact using less - a noticeable trend of 2022.
Eco-conscious buying is also prevalent in the party goods market. Recyclable and biodegradable tableware, such as bamboo cutlery, is favored over plastic dining utensils. Similarly, paper balloons made from recycled materials have enjoyed popularity. These have minimal environmental impact, whilst being easy to assemble and reusable for other occasions.
Parents have reportedly been throwing more themed parties for children, making them feel special after missed parties during Covid-19. Popular themes include Disney’s Encanto and Cocomelon of YouTube fame.
Toys
Sales of toys in the US reached over $25.1 bn in 2020 - an increase of 16% on 2019. Reports show that outdoor & sports toys accounted for the highest sales value by Q2 of 2022. Families are aiming to keep children engaged and active, with outdoor activities during the pandemic replacing indoor play dates. Skateboards, skates, and scooters drove sales the most in this category.
Toys aren’t just for kids, and insights for YTD in June 2022 showed that households without children outgrew household with children in toy sales. Adult-specific ranges are being produced by top toy companies, like Lego. Action figures and accessories grew in double digits, with Funko Pop! figurines performing very well.
Although sales of units decreased across the majority of toy categories in 2022, average selling price increased across the board. Insights suggest people are making fewer trips to buy toys, and are buying fewer units but spending more when they do.
Seasonal Merch
There are major celebrations spread all across the calendar year, making it a significant retail market.
Despite inflation, Halloween merchandise sold scarily well in 2022. Candy topped the sales, with chocolate treats proving a favorite. Confection giant, Hershey’s, Q4 earnings are projected to show a 64.1% growth from pre-pandemic levels. As expected, costumes were a big hit, with 1 in 5 consumers planning to even dress their pets up in costumes!
Deloitte Insights suggests that, although 37% of American households say their financial situation is worse than last year, people are cutting non-essentials to purchase gifts and socialize this holiday season. According to a retail survey by KPMG, clothing and retail gift cards are the top of people’s Christmas shopping list.
Insights from 2022 suggest retail shoppers are buying less but spending more = quality matters
Available insights from 2022 suggest that shoppers are buying less but spending more. Environmental consciousness could be linked to this, with consumers opting for more expensive, ethically produced items.
It is clear that the pandemic is still influencing retail trends, although 2022 is seeing some markets return to pre-pandemic levels, or settling down after restriction-related disruptions. As a result of missing 2 years’ worth of events, people appear more eager to go all out with things like toys, decorations, and party goods. Outdoor socializing is still on people’s agendas, resulting in a focus on enjoying outdoor spaces throughout the year.
To conclude, retail trends from 2022 show consumers are buying fewer items but spending bigger on those they do. This presents an exciting opportunity to explore higher ticket products to new target audiences. At DIG, you’ll find fantastic items from all the above product categories and more!
