China's Traditional Toys Market: Growth Opportunities Post Pandemic

Three Growth Opportunities for Traditional Toys in Post-Pandemic China

By Alex Li

The global market for traditional toys and games in China is projected to grow by 9 year-over-year YY this year, as the industry recovers strongly from a sharp decline experienced in 2022 at the peak of the COVID-19 pandemic. Despite an uncertn economic outlook for China over the forecast period, the traditional toys and games market is expected to remn robust due to emerging consumer trs, policy initiatives, product innovations, and channel transformations.

Rising Cultural Nationalism:

Licensed toys are poised to become a significant driver of growth in this sector, accounting for more than 25 of total value sales by 2027. As globalisation has fueled the rise of various intellectual properties IPs worldwide, an increasing emphasis on domestic cultural consciousness and heritage in China is prompting global toy companies to develop localized products that cater to the tastes and interests of the new generation of Chinese consumers.

For instance, Lego has launched annual toy lines inspired by traditional Chinese festivals specifically targeting younger audiences. Meanwhile, the Gansu Provincial Museum has successfully leveraged an ancient artefact, the Flying Horse, as a captivating plush toy through creative social media marketing campgns, garnering widespread attention online.

Leveraging Local IPs and Digital Marketing:

Domestic toy companies such as 52TOYS have recognized this tr by collaborating with hit films like The Wandering Earth II to create and sell replica toys of popular characters via crowdfunding platforms. The key to success in these eavors lies in selecting IP that resonates across different cultural backgrounds while thoughtfully designing products that materialize the potential behind such IPs, combined with strategic digital marketing efforts to reach a broader audience.

Channel Transformation:

Toys and games retlers have adapted to changing consumer behaviors by integrating both online and offline platforms. Companies like Kayou Toys have opened flagship stores in major Chinese cities like Guangzhou, Chongqing, and Shenzhen while also mntning a strong presence through non-grocery variety shops across the country. This dual-channel approach enables them to reach a wider customer base.

Positive Outlook:

Despite potential challenges stemming from economic pressures on consumer sping, traditional toys and games in China hold promising growth opportunities ahead due to the combination of emerging trs, policy support, innovative products, and channel adaptations. The industry is poised for continued dynamism as market players navigate these favorable conditions to meet evolving consumer expectations.

Explore our report on Toys and Games in China to delve deeper into market insights and potential areas of growth.

APPLIANCES AND ELECTRONICS TOYS AND GAMES CHINA

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