Lunchboxes, trading cards, posters, toys (even though aside from E.T. and Elliot, there wasn't much to sell,) shirts, bikes, you name it - E.T. was everywhere and since none of it was very expensive it didn't have a chance to be annoying.

For real??? lol wow, I was about 6 years old when this movie was all over the T.V, I had to watch it about 3 times before I could finish it, but I remember the kid, I remember how the alien called himself Eeeeee.Teeeee, and at the end it took off to the sky and this little boy was riding into the sunset with a bicycle.lol, a very vague description I know, I was really little then, but seeing from your description, it was such a hit...