Cambodia is committed to price competitiveness to develop the toy industry
In recent years, kindergartens in Cambodia have sprung up like mushrooms after a rain, so the toy market has also grown rapidly. There are not many suppliers in the toy market in Cambodia, and the market space is large, especially for high-quality toys. Toysu0026Me, headquartered in Phnom Penh, is one of the country's largest chain toy retail companies. The company’s CEO Keng Titphirum accepted an interview with Cambodia’s 'Phnom Penh Post' and discussed the current status and future development of Cambodia’s toy industry. Keng Titphirum said: Toysu0026Me was founded in December 2007. At that time, our main sales target was students in private schools. We established this toy company because we saw the lack of educational toys (educational toys) in the Cambodian market. Many private schools have to buy toys from neighboring countries. At the beginning of the business, we imported wooden toys from China's Benho Company. Since 2008, we have started to import all kinds of toys from different countries. By 2012, our sales volume has increased by 120%, and it is expected that this year will achieve even greater growth. Which toys do you sell now? Keng Titphirum said: At present, we have imported 9 licensed toys, including Leapfrog, Barbie, Little Tike, Benho, etc. We have products such as useful toys, children's clothing, and children's feeding equipment. We are committed to becoming a one-stop shopping center for parents. Can you explain why the demand for educational toys and high-quality toys has kept growing in the past few years? Keng Titphirum said: We can trace the population structure and history of Cambodia. In 2007, most of those who were parents were born in the 70s. They grew up in the dark Khmer Rouge era. In the eyes of these people, buying toys for children is a waste of money. They don’t know that toys are of great benefit to children’s creativity and intelligence. When these parents walked into our store, the price of the toys made them stunned. Compared to the price level of the Cambodian toy market, our price is indeed a lot higher. However, these parents gradually understand that cheap toys may contain toxic substances, which will cause harm to children. Gradually, they are also willing to spend more money on better quality toys. In the past, most of our customers were first-time parents. The toys purchased from us can be used for a long time. After the first child has played, they can also be played by the second and third children. How did you expand the market in Cambodia? Keng Titphirum said: Currently, we have almost no competitors. Today, there is another powerful high-quality toy distributor in Cambodia, but there is no overlap in our business fields, so it does not pose a threat to us. We are committed to maintaining price competitiveness, which is more attractive than Europe, America and neighboring countries. Now we provide toys for 50 private kindergartens. We have 5 chain stores in Phnom Penh, each of which is located in a good location. Next, we plan to expand our business to other provinces and even abroad.