How can Chinese toy companies take advantage of the toy market

by:Ennas      2021-12-04

China News Service, Guangzhou, April 26 (Cheng Jingwei) On the one hand, the export scale occupies about 70% of the global market, and on the other hand, it is at the end of the market chain with meager profits. China’s toy exports are still prosperous. Feeling helpless. With the gradual loss of cost advantages, the intensification of international technical barriers and the rise of emerging markets, can China’s toy industry still “play well” and “play well”?   The reporter learned at the second phase of the 115th Canton Fair on the 26th that Chinese businesses are transforming and upgrading, establishing their own brands, and actively seeking breakthroughs by combining toys with animation, online games, Chinese culture and other elements.   Since the 1980s, China has become the world’s largest toy producer and exporter. In 2013, China’s toy exports reached US$24.732 billion, accounting for approximately 70% of the world’s toy market. However, the glamorous data cannot conceal the dilemma of Chinese toy manufacturers 'doing more, earning less'.   In fact, a large number of Chinese toy manufacturers are OEM for multinational companies, lacking independent brands and sales channels in the international market. With the increase in domestic labor costs and raw material prices in recent years, the profit of toy exports as a labor-intensive industry continues to decline.   Many Chinese toy manufacturers at the Canton Fair said that although the order volume has rebounded in recent years, their profits have become thinner and thinner, just like living in a crack. Jiang Chunan, head of Suzhou Qintaier Toys Company, said that in recent years, toy exports have been slowly recovering, but rising labor costs have challenged low-tech toy products, and encounters with 'cottages' have also made the situation even more serious.   gives meaning and stories to toys, and combines toys with internationally renowned brands, animation, online games and other elements, which has become a new direction for many Chinese toy companies to transform. Lin Meier, manager of the international business department of Guangdong Xinghui Company, said that in addition to traditional superior car model products, the 'BMW Mini Children's Bicycle' is the latest product promoted by their company this year's Canton Fair, and it is expected that exports will continue to be mainly in the traditional EU market. The reporter learned that the company initially focused on electric toy cars and plastic toys, but in 2005 it began to transform into the car model market and was authorized to produce toy cars for the full range of 'BMW' cars; in 2013, it sought a new transformation and made production as a popular game. For derivatives of toys, the online and offline promotion of games and toys has gained market recognition.   Jiangsu Zhongding Company brought more than 100 kinds of new plush toys this time, with novel styles and excellent workmanship. Liu Ziqin, manager of the toy department of the company, said that in addition to upgrading the fabrics of their toys, they also paid attention to the appearance of new ideas and cultural connotations. Liu Ziqin said that currently, in the company's product series, European, American and Japanese animation derivative products account for more than 80%. With the success of domestic excellent animation in the market, domestic animation toys will also sell well in the international market. Approval of independent brand products with distinctive Chinese cultural characteristics.  Guangdong is China's largest toy production and export base. 'The toy industry still has a lot of room for development.' The person in charge of the Guangdong Toys Association stated that Chinese toy export companies must seize the opportunity to accelerate their transformation and upgrading. Only by transforming equipment and other methods, transforming and upgrading from OEM (OEM) to OBM (own brand), and expanding domestic sales, can we survive and develop. However, many toy companies at the Canton Fair, especially small and medium-sized exhibitors, admitted that competition in the international market is becoming increasingly fierce and export profits are getting thinner. However, transformation and upgrading require sufficient capital, technology and talent investment, and may not be able to Success, it makes them feel dilemma.
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