Nope, not really. Yes more and more people are buying stuff online, but you don't discover new products online, especially child-oriented stuff like toys, you do that in a store where you can browse. If you don't believe me then try to stumble upon something new on sites like amazon or Walmart.com, where the toys category can have thousands of entries.
Also as I've said, the primary reason Toy R Us is shutting down has to do with some bad business decisions behind the scenes that incurred massive debt they could never recover from. Toy Sales aren't down, they just haven't shown much growth in recent years, which is fine if you don't have any debt to pay off, but if you do....
In general online stores are killing brick and mortar though and the reason is that none of their online websites are structured properly. If I order from an online version of a store, the sale goes to the website, not my local store... if they want to save the b&m store then the sale should go to my local store, even if I buy it online, even if they don't have it in stock. If they did that then the problem would be solved. The thing is, they don't want to do that, because it would mean the company as a whole would earn slightly less money, and CEOs are so short sighted that they can't see without the b&m stores their websites will wither and die, because the brand recognition from seeing the stores everywhere is the only reason people visit their website as opposed to more popular ones like amazon.com. Did you know that Montgomery Wards is still in business online? Neither does anyone else because the real stores went out of business. The company that bought the name and continued the online catalog went out of business within 4 years, and it's been constantly changing hands ever since. No Stores=no brand recognition.