"This is the best era, this is the worst era" is just right to describe today's global toy market. In March 2018, Toys R Us’s debt restructuring failed, meaning that it would close the remaining 740 stores in the US in a few months and dismiss about 33,000 employees.
Jim Silver, editor-in-chief of toy evaluation website TTPM.com, said that the decline of Toys R Us was attributed to the price war brought by e-commerce companies such as Amazon and large retailers such as Wal-Mart, and the consumption of traditional toys. The mass loss of the group, electronic game products occupy more game time for children. In the face of the huge changes in the traditional toy market, where will the opportunities in the Chinese toy market be?
China's toy market has great potential, and traditional toys need to be transformed.
Compared with the sluggish performance of mature markets in North America and Europe, the growth rate of the Chinese market is strong. Lego, which lost global revenues in 2017, has achieved double-digit growth in the Chinese market.
2017 CBME China Pregnancy and Child Show, Children's Wear Toys, Education and Souvenirs
According to the "China Toy Industry Operation Release" data, the main business income of China's toys in 2017 was 235.71 billion yuan, an increase of 8.5%. As the world's second toy consumer, the growth of the Chinese toy market is impressive. Euromonitor predicts that sales of Chinese toys will increase by 5%-6% in the next five years. According to the statistics of CBME China Pregnancy and Children's Wear Exhibition, the area of ​​toys, education and souvenir exhibition area increased to 11,000 square meters in 2018, an increase of 29.41%; the number of exhibitors was 285, an increase of 31.34%.
While the Chinese toy market is unanimously optimistic, traditional toy manufacturers are also facing a series of challenges brought about by the upgrading of consumption, the digital age and the transformation of the baby's family lifestyle. Traditional toys are in urgent need of transformation and upgrading.
"Learning Experience" boosts children's toys "consumption upgrade"
On the one hand, the Chinese game industry report shows that in 2017, the Chinese game market exceeded 200 million yuan, of which the mobile game market accounted for 57%. While eroding the traditional toy market, video games have also advanced the digitalization of physical toys. In January 2018, Mattel and Lego reached a strategic cooperation with Tencent to cooperate in video, games, animation and toys.
On the other hand, with the “post-90s†growing up in the Internet age, the consumer groups have put forward higher requirements for the entertainment, interaction, and personalization of toys. Frank About Women's survey of global mothers shows that Chinese mothers are more willing to pay for “feeding foodâ€, and “educational products†are closely followed, and their purchasing intentions far exceed those of the United States, India, Australia, and the United Kingdom. In response to the strong demand for Chinese baby families to entertain and educate, many toy companies have already begun to act. Children's intelligent early education brand fire rabbits open the children's consumption entrance with early education story machine and video machine products, with annual sales of millions of units.
2017 CBME China "Lessons Experience" Zone
In addition, China Industry Information Network data shows that the new generation of parents attach great importance to the acquisition of early education knowledge, after 90% of the mother's consumption accounted for half of the total market consumption. Based on its early childhood development brand Fei Xue, Mattel has established an online education platform and opened a community chain early education center.
In order to meet the consumption upgrade, the experiential children's format has also become a new consumer demand. According to data from the China Industrial Research Network, indoor amusement parks such as children's amusement parks, children's haircuts, children's water parks, children's water photography, baby swimming pools, and large-scale video games have become new highs in the market. The blue flag parent-child swims into the water cube, the new museum of the China Science and Technology Museum opens up a children's paradise, the dumping music in various commercial real estates, the naughty castle and the new playground combined with sound and photoelectric technology are all boosting the consumption upgrade of the toy industry.
Grasping the new growth of the toy industry, 2018 CBME set up a "music education experience" and "learning outdoor" area
Peer-to-peer and cross-border communication will help broaden the Chinese toy market and explore new consumer demands. The world's largest baby and child fair CBME China Baby and Child Show is expected to have 285 toy brands in 2018, including AMOS, Magic School, Aubay, Bile, Bang Bao, CHICCO, Dwinguler, Fisher-Price, Hape , Haba, Fire Rabbit, Golden Eagle Cartoon, MOLTO, Wood Play Family, Sigikid, Bandai, VTech, Little Tektronix and other well-known toy brands at home and abroad will all be on the same stage.
2017 CBME China Pregnancy and Baby Fair, Children's Wear Exhibition
Focusing on the diversified lifestyle of the baby family under the wave of consumption upgrades, 2018 CBME China will open a “music education experience†and “learning outdoor†area, focusing on market hotspots, meeting new consumer demands, and bringing new growth points to the toy industry. . In the "Learning Experience" area, a special area for early childhood and early childhood education and supporting facilities will be added. The early childhood education institutions, early childhood education supporting products, and online educational institutions will be displayed on the spot. The “Happy Outdoors†zone includes children's outdoor play equipment brands such as scooters, bicycles, roller skating and balance cars. It is reported that the 18th CBME China Pregnancy and Child Show and Children's Wear Exhibition will be held at the National Convention and Exhibition Center (Shanghai) from July 25th to 27th. You can participate in the exhibition free of charge through the official WeChat “CBME Pregnancy and Baby Exhibitionâ€.
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