China’s Toys Market 2017: A Positive Outlook
China has been the world’s second largest market for traditional toys and games since 2012. Despite the country’s recent economic slowdown, international toy companies, including Fiducia’s clients in the sector, remain confident about growth prospects in China. Retail sales of traditional toys and games in China are expected to grow by 38 percent to $14.3bn by 2020, compared to a 10 percent expected growth in the US market for the same period, according to Euromonitor.
Some of the factors making the Chinese toy market attractive for foreign companies are:
- The end of the one-child policy
- Rising incomes
- Rising consumption
- Fast growth in e-commerce
- A growing preference for higher-value toys
Although demand for high-quality, branded toys is set for growth, a successful expansion or market entry in China can prove challenging.
Choosing the right distribution channels, analysing local competitors, preventing and solving trademark issues, and complying with local standards and certifications are some of the areas in which our experts can assist you. Contact us to discuss how your business can benefit from China’s growing toys and games market.