January gross sales posted the very best progress for the quarter due to toy purchases across the Chinese language New Yr vacation
PORT WASHINGTON, N.Y., June 7, 2021 /PRNewswire-PRWeb/ — Toy trade e-commerce gross sales in China elevated by 16% to $1.2 billion (USD) within the first quarter (Q1) of 2021 (January – March) versus the identical time interval final yr, in line with The NPD Group. January 2021 posted the very best progress charge (34%) for the quarter, with gross sales pushed primarily by purchases made for the February 12 Chinese language New Yr celebration.
All toy supercategories posted progress in Q1, led by Toddler/Toddler/Preschool Toys, the most important of all 11 supercategories, which elevated 3%. Different top-performing supercategories included Constructing Units, Outside & Sports activities Toys, Motion Figures & Equipment, and Explorative & Different Toys. With gross sales reaching $192 million, Outside & Sports activities Toys posted the very best good points when it comes to worth gross sales, a 18% enhance over Q1 2020.
Gross sales in China’s toy market was dominated by Chinese language producers, with solely 4 out of high 10 producers being world.
“China is the world’s second largest toy market and the world’s largest toy manufacturing base,” mentioned Frédérique Tutt, International Toys Trade Analyst at The NPD Group. “It is a nation that’s primed for savvy worldwide manufacturers in search of alternatives in new markets. Even when the speed of progress slowed in 2020 because of the world pandemic, China over-performed different nations within the area and is already bouncing again. With the most recent leisure of the two-child coverage and an ever-increasing middle-class inhabitants, we anticipate the Chinese language toy market’s wholesome progress to proceed.”
Gross sales of licensed toys elevated 45%, whereas gross sales of non-licensed toys grew by 13%. The highest-gaining toy licenses in Q1 had been Ultraman, Lamborghini, Mercedes-Benz, Ferrari, and Disney Frozen.
Chinese language New Yr Highlights
In line with NPD’s 2021 Chinese language New Yr Reward Research, Toys & Video games had been the vacation’s most requested reward classes for Chinese language youngsters. When making their vacation reward want lists, 46% of youngsters requested toys that featured their favourite cartoons, tv applications, and flicks. Social media had a major influence on youngsters’s want lists as effectively with 45% of youngsters asking for toys they noticed on quick video platforms like TikTok and WeChat.
Chinese language shoppers spent a mean of $91 on Chinese language New Yr items in 2021, a 39% enhance when in comparison with Q1 2020. Internet buyers spent a mean of $12 greater than shoppers who bought toys at brick and mortar shops.
About The NPD Group
NPD presents information, trade experience, and prescriptive analytics to assist our purchasers develop their companies in a altering world. Over 2,000 corporations worldwide depend on us to assist them measure, predict, and enhance efficiency throughout all channels, together with brick-and-mortar, e-commerce, and B2B. We’ve got companies in 19 nations worldwide, with operations spanning the Americas, Europe, and APAC. Observe areas embody attire, home equipment, automotive, magnificence, books, B2B know-how, shopper know-how, e-commerce, trend equipment, meals consumption, foodservice, footwear, residence, residence enchancment, juvenile merchandise, media leisure, cell, workplace provides, retail, sports activities, toys, and video video games. For extra info, go to npd.com. Observe us on Twitter: @npdgroup.
David Riley, The NPD Group, 9175435465, firstname.lastname@example.org
SOURCE The NPD Group