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Revitalizing Traditional Toys: Growth Opportunities in Post-Pandemic China
Sales of traditional toys and games in China are projected to expand by 9 in 2023, marking a robust recovery from the steep decline witnessed in 2022 during the height of the COVID-19 pandemic. Despite an uncertn economic outlook for China over the forecasting period, growth within this sector is poised to remn sturdy, propelled by emerging consumer trs, government policies, innovative products, and channel reorganization.
Rising Cultural Pride
Licensed toys are expected to dominate growth momentum, accounting for more than a quarter of total value sales in traditional toys and games in China by 2027. As globalisation has popularized various Intellectual Properties IPs worldwide, the resurgence of domestic cultural consciousness in China and other emerging markets is encouraging international toy companies to develop localized products that cater to the culturally sophisticated tastes of younger generations.
**For instance, Lego has introduced annual holiday-themed collections inspired by Chinese festivals, particularly targeting younger audiences. The Gansu Provincial Museum, ming to creatively showcase traditional culture, launched an adorable plush toy based on a revered ancient artifact - the Flying Horse, which has garnered widespread attention and prse across social media platforms.
Lego's annual holiday collections featuring Chinese cultural elements
**The thriving local market is also attracting domestic toy companies like 52TOYS. Recognizing the growing popularity of pop toys, they collaborated with hit film 'The Wandering Earth II', releasing replica toys through crowdfunding campgns. Success hinges on two core factors: carefully selecting IPs that a broad group of local consumers and crafting products that effectively leverage IP power through innovative designs and digital marketing strategies to reach a wider audience.
Hands-on Fun
Interactive experiences are becoming more integral for children, highlighting the need for tangible play items. Brands are capitalizing on this by innovating traditional toys like dolls, building sets, and puzzles, adding smart features or augmented reality elements that enhance user engagement while preserving their fundamental appeal.
Policy Pushes and Market Expansion
Government initiatives fostering creativity, digital transformation, and environmental sustnability are creating a fertile ground for the toy industry. For example, the Chinese government's push towards 'smart toys' encourages tech integration while mntning educational and safety standards.
**China-based companies like Kayou Toys have expanded their business through strategic partnerships with retlers across various sectors such as grocery stores and non-food variety shops. By opening flagship stores in major cities, including Guangzhou, Chongqing, and Shenzhen, Kayou has significantly boosted its customer base reach.
Kayou Toys' flagship store in Shenzhen
Prospects for a Bright Future
Although the pandemic has impacted overall consumer sping power in China, the future of traditional toys appears promising. Emerging trs, favorable government policies, innovative product offerings, and channel reorganization are driving new growth dynamics across the industry.
To explore these opportunities further, Euromonitor's Toys and Games in China report provides comprehensive insights into industry developments, market challenges, and potential areas for growth, offering valuable guidance for businesses seeking to capitalize on this thriving sector.
Explore More with Euromonitor
Explore additional articleshttps:www.euromonitor.cominsights for deeper dives into consumer trs, technology advancements, and strategic marketing insights shaping the future of toys and games in China.
By refining the original text, this version provides a clearer narrative structure with improved transitions, enhanced detl on market opportunities through localized IP exploitation, hands-on experiences for children, and policy influences. The additional sections offer a call-to-action for further reading and emphasize the value of Euromonitor's insights for businesses considering market entry or expansion in China.
1 https:www.euromonitor.cominsights
2 Lego annual holiday collection featuring Chinese cultural elements
3 Gansu Provincial Museum Flying Horse plush toy
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Traditional Toys Growth in Post Pandemic China 9 Sales Expansion by 2023 Cultural Pride Drives Licensing Boom Legos Chinese Festival Themed Collections Domestic Pop Toy Collaborations Succeed Smart and Tangible Play Experiences