In 2019, the size of China's toy market reached 13 billion U.S. dollars, and the online sales of domestic toys have seen a significant increase in the epidemic?

by:Ennas      2022-01-20
At present, the decline in the value of China's toy exports has gradually narrowed, and during the epidemic, the online sales of toys have not declined but increased rapidly. Li Zhuoming, chairman of the Guangdong Toy Association, said in an interview on the 30th that it is expected that the proportion of online toy sales will further increase in the future. In addition, regarding the remarks about the migration of China's toy manufacturing industry to Southeast Asia after the outbreak of the epidemic, he believes that four major advantages such as a strong industrial chain will promote the upgrading and transformation of China's toy industry, and the status of China's toy manufacturing power will not change in 20 years. Guangdong's toy exports accounted for 70% of the country. 'Guangdong toy exports exceeded US$21.5 billion last year, accounting for nearly 70% of the national share.' Li Zhuoming revealed that the epidemic had a certain impact on the toy industry at the beginning of this year. The situation, there was even a small sales climax before the Children’s Day. In particular, online sales have grown rapidly, and products such as building block toys, dolls, and baby carriages are relatively in short supply. For example, sales on JD’s e-commerce platform surged 55% year-on-year in the first quarter. At the same time, toy companies are also making efforts in cross-border e-commerce. Li Zhuoming said: 'Not only have the toy sales of traditional cross-border e-commerce platforms such as Alibaba and Amazon soared, but new e-commerce channels including Youtube, facebook, Douyin, WeChat, etc. have also emerged. Some companies sell them in one minute through the Internet. Ten thousand sets of building blocks.” With the steady improvement of the mainland epidemic, this year's first large-scale international toy professional exhibition will also be opened in Shenzhen, attracting more than 1,300 exhibitors, and about 10,000 new products will be showcased for the first time. After the outbreak, some Western politicians advocated the return of the manufacturing industry. India even increased its toy import tariff from 20% to 60% in February. The remarks about the migration of China’s toy manufacturing industry to Southeast Asian countries have become increasingly popular. Li Zhuoming responded, saying: 'China After decades of development, the toy industry has accumulated strong advantages, which are mainly reflected in 4 aspects. First, it is a strong industrial chain supporting, from raw materials to accessories to finished products can be one-stop solution in the Mainland. China's developed land, sea and air transportation The Internet and a stable political and economic environment have provided guarantees for it.' The four advantages promote the upgrading and transformation of domestic toys. 'At the same time, China’s industrial workers have high quality and extremely high labor productivity.' Li Zhuoming said: 'The third is production technology. Advanced, especially the production technology of Guangdong toy companies has been in a leading position in the world. Advanced CNC machine tools such as CNC digital processing centers, laser rapid prototyping machines, and engraving machines have been widely used by large and medium-sized enterprises, and the degree of automated production in the industry has continued to increase. Fourth, the management of Chinese toy factories is scientific and meticulous, and the system is strict. In the past few years, international brand companies such as Hasbro, Mattel, and Disney have transferred some orders to Southeast Asian countries such as Vietnam. However, due to quality control and production technology problems, In the end, many products can only flow back to China for production.' 'These advantages will enable China's toy industry to further upgrade and transform, break through the limitations of OEM production, and develop into a complex modern toy manufacturing industry.' Li Zhuoming believes that others It is no easy task for the country to replace China in the short term, and China's status as a major toy manufacturing country will not change in 20 years. According to another report, NPD China recently released the 2019 Global Toy Market Report. In 2019, the global toy market was about 91 billion U.S. dollars. The compound annual growth rate during the five-year period calculated from 2014 has reached 2.7%. (0-9 years old) The average annual spending on toys has reached 56 US dollars. Asia recorded a single-digit positive growth. In different regions, North America, Latin America, Oceania and Europe were flat or recorded negative growth compared to 2018, while Asia and Africa recorded a single-digit positive growth, which shows that in 2019 In 2009, the growth momentum of global toys came almost entirely from developing countries such as Asia and Africa. Developing countries contributed one-third of global sales in 2019 and accounted for more than 55% of growth in the past five years. In the future, global toy brands need to focus more on developing countries and benefit from market growth in developing countries. The size of the Chinese toy market ranks second in the world. In 2019, the size of the Chinese toy market reached 13 billion U.S. dollars, contributing nearly 15% of sales to the global toy market and continuing to maintain a healthy growth rate. The market scale of Chinese toys currently ranks second in the world, several times that of Japan, South Korea, Europe and other countries, and still shows great potential. At present, Chinese children spend only one-seventh of the United States, one-sixth of Japan, and one-fifth of the United Kingdom’s toy products. With the continuous development of China’s economy, the per capita income continues to grow, and at the same time declining birthrates are also increasing. As the parents' investment in their children continues to increase, China's per capita toy spending is expected to further increase in the future, which will be one of the important driving forces for the future growth of China's toy market. Source: Wen Wei Po, NPD Enboyuan
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