Guangdong's toy industry is the first to recover. Is it difficult to shake the status of the industry within 20 years?

by:Ennas      2022-01-20
Affected by the epidemic in 2020, orders for self-operated export toy companies in Guangdong also fell for a while. The latest research report released by the Guangdong Toy Association pointed out that the new crown pneumonia epidemic caused orders for self-operated export toy companies in Guangdong to drop by more than 30%, but after the end of April , Online toy sales have seen a small upsurge, and toy companies have achieved remarkable results in reaching the Internet. It can be said that they are the first to return to normal levels in all major industries. The proportion of online toy sales is growing fast. According to Li Zhuoming, chairman of the Guangdong Toy Association, Guangdong is the world’s largest toy production and export base. In 2019, Guangdong’s toy exports were 21.509 billion US dollars, accounting for 69.1% of the national share. At the beginning of the year, due to the epidemic, toy companies once 'shut downAccording to data from mainstream e-commerce platforms 'TaobaoThe association researched and judged that in 2019, online toy sales accounted for about 35%, and this year this proportion will increase substantially. Based on this, the 2020 Toy Fair, which restarted half a year later due to the epidemic, focused on highlighting the 'e-commerce element'. In addition to organizing more than 1,300 exhibitors to participate in the exhibition and exhibiting tens of thousands of new products, it also organized a large number of e-commerce, Professional visitors from the cross-border e-commerce ecosystem enter the venue to visit and purchase, and connect with toy manufacturers. In addition, the '2020 Tmall Toy Industry Merchants Meeting and Exchange Conference' will be held on August 6, and the '2020 China (Shenzhen) Cross-border E-commerce ASEAN Cooperation and Development Forum-Selection of Toys, Maternal, Infant and Child Industry' will be held on August 7. 'The Summit' is expected to stimulate a new round of industrial potential, so that the Chinese toy industry will not undergo a market reversal due to the epidemic. The status of toy manufacturing will not change in 20 years. China is the world's largest toy producer and exporter. More than 70% of the products on the world toy market are made in China. After the outbreak of the new crown pneumonia epidemic, some Western politicians advocated the return of the manufacturing industry. India raised its toy import tariff from 20% to 60% in February, and the remarks about the transfer of China's toy manufacturing industry to Southeast Asian countries have been raging. Li Zhuoming said that after more than 30 years of development, China's toy industry has accumulated a solid foundation and advantages, with a strong industrial chain and unmatched production efficiency. In particular, toy companies in Guangdong have widely used advanced equipment such as CNC machine tools, digital processing centers, laser rapid prototyping machines, and engraving machines. The industry's automation and product quality have reached the international leading level. International brand companies such as Hasbro, Mattel, and Disney once transferred some orders to Vietnam and other Southeast Asian countries for production, but due to quality control technology and other issues, they have quietly returned to Guangdong for production in recent years. 'The industrial chain and management advantages of China's toy factories are very obvious.' Li Zhuoming told reporters: 'My personal judgment is that in the field of modern toy manufacturing, the status of China's industry will not change within 20 years.' It is also reported that Guangdong toy companies are facing the epidemic this year. Actively looking for breakthroughs began to bear fruit. A large number of companies have opened Douyin, WeChat, and Weibo Moments sales channels. Many companies can sell tens of thousands of blocks in a live broadcast, and the industry's activity is increasing day by day. According to data from the General Administration of Customs, in the first half of this year, the import and export of the customs cross-border e-commerce supervision platform increased by 26.2%, of which exports increased by 28.7%. China's toy industry, which was the first to recover, played a positive role. Source: Hong Kong Commercial Daily
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