Domestic toy sales channels are shifting from traditional wholesale markets to e-commerce platforms

by:Ennas      2021-12-09

CCTV, Beijing, July 18 (Reporter Ding Fei) According to a report by the Voice of China 'CCTV NewsDomestic toys are facing the most severe challenge in history. In order to cope with the dual pressure of imported brands and online games, domestic toy sales channels are shifting from traditional wholesale markets to e-commerce platforms.  Imported toys are in the shopping malls, and domestic toys are in the wholesale market. This disparity in survival has always been a true portrayal of the toy market. With the gradual introduction of my country's separate two-child policy, the Chinese market with a huge population base is becoming a big cake in the eyes of toy giants. In May of this year, Lego, the world's second largest toy manufacturer, set up its first factory in Jiaxing, China, as proof. At the recently opened Fifth Game Expo, Lego China’s Director of External Affairs Hu Zhan told reporters:    Hu Zhan: This factory will not only satisfy our Chinese market in the future, but also produce products throughout Asia. The planning is exactly the same as those of Lego factories in other countries. Strict Danish standards must be adopted and the products must be able to be exported to any country. Except that we now have special counters in the large shopping malls R Us, I estimate that in the near future, you may see more channels.  According to statistics, 2008 and 2013 were the two peak periods for imported toys to enter China in recent years. In the whole year of last year, the national inspection and quarantine agency accepted and inspected 11,922 batches of imported toys, with a value of about 399 million US dollars, a substantial increase of nearly 50%, and maintained rapid growth for two consecutive years. Not only that, international brands such as Lego are currently accelerating market expansion, entering supermarkets and attracting mother groups with low discounts. In contrast, domestic toy dealers have always had relatively weak benefits, and they mainly sell through medium and low-end channels such as wholesale markets and small merchants and hawkers. The varieties are relatively monotonous, and low prices are the main advantages. The reporter discovered during the Expo that while domestic toys continue to open up the market at low prices, they are gradually shifting their sales channels to e-commerce platforms in order to cope with the most severe challenges in history that may come. Mr. Lin, the person in charge of Guangdong Zhenfeng Science and Education Toys Co., Ltd.: Mr. Lin: We are now mainly e-commerce channels, because the Internet is very contagious. The average annual growth rate is 40% to 50%.
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