Imported toys flood into China's 'snatch' market

by:Yourijiu     2021-08-30
As the world's largest toy producer and exporter, China is currently facing a situation where foreign brand toys continue to flood in and compete for domestic market share. Last year, China’s toy exports achieved remarkable results. In 2015, my country’s foreign trade situation was severe. Many traditional light industry products such as clothing, textiles, and shoes experienced negative growth. However, toy exports have delivered a very beautiful report. The products are exported throughout the year. The amount of 30.803 billion US dollars...As the world's largest toy producer and exporter, China is currently facing an increasing influx of foreign brand toys to compete for domestic market share. Last year, China’s toy exports achieved outstanding results. In 2015, my country’s foreign trade situation was severe. Many traditional light industry products such as clothing, textiles, and shoes experienced negative growth in exports. However, the export of toys produced a rather beautiful report. The products were exported throughout the year. The amount was 30.803 billion US dollars, a year-on-year increase of 16.96%. Not only did it have good growth in European and American countries, which are large traditional toy consumers, but it also has a relatively ideal increase in regions such as Africa and Latin America. Why does China’s toy exports still perform well under the severe background of foreign trade? This aspect has benefited from the recovery of the world economy; on the other hand, it has also benefited from the company’s active innovation in products and the promotion of film and television animation hits, such as Aofei Entertainment. A huge sum of RMB 2 billion has launched the Smart S plan to develop and launch smart toy products including smart robots, wearable watches, etc. The company's transforming robot named Ledi is popular among children under the popular animation 'Super Flying Man'. , The sales volume reached 8.5 million in 2015. In fact, the recovery of the toy market in 2015 was largely due to the popularity of many animation film and television works that promoted the hot sales of related toys. Some foreign media even claimed with a headline that 'Star Wars VII' rescued Chinese toy manufacturers, because the peripheral products of the 'Star Wars' movie alone brought $3 billion in sales to the toy industry.  Imported toys are rushing into China to grab the market  Foreign businessmen are accelerating their occupation of the Chinese mainland market. This is a new economic trend that has attracted attention since last year. In the field of toys, this sign is also very obvious. According to the statistics of the General Administration of Customs: In 2015, the value of toys imported from mainland China surged by 38.27% year-on-year! Some of the best-selling products in the market have shown a spurt of growth in both the import volume and the import value. For example, the customs commodity code tariff number tricycle, scooters and similar wheeled toys and doll cars. In 2015, the import volume of such products increased significantly by 50.77 year-on-year. %, reaching 1.515 million vehicles. For example, according to the statistics of the National Bureau of Statistics: China's birth population was 16.55 million in 2015. That is to say, even if each of the 16.55 million new population buys a baby stroller of this type, it means that about 9% of the market share will be divided by imported products. The 28th Guangzhou International Toys u0026 Games Fair has responded to the increasing demand for exhibitors from overseas companies this year, adding new international exhibition areas. In order to seize the bridgehead of the Chinese mainland market. It is said that foreign companies will display a large number of European and American baby and child products, as well as the most popular toys-to-life toy products (traditional ordinary toys and online game interactive products) in 2016.  Domestic companies are actively fighting against   Foreign brand toys are accelerating to seize the Chinese mainland market, but the reaction of the toy industry to this is more calm. Chairman Li Zhuoming said: There are 222 million children under the age of 14 in my country. It is estimated that 20 million new babies will be added every year after the implementation of the two-child policy. This will bring toy consumption into a period of rapid growth. With China’s economic development, people’s living standards have improved and some high-income The crowd will favor internationally well-known brand products, which will give imported toys a broad market space. It is not surprising that foreign businessmen see opportunities to come in and get a share of the pie. However, from the perspective of product cost-effectiveness, Chinese toys are more competitive in the market. In fact, the long-term domestic high-end market for foreign well-known brand toys has quietly changed in recent years. For example, domestic well-known brand Kerr dolls are the same as American Barbie dolls. It has become the main toy product in many supermarkets and supermarkets; there are currently no foreign brands that can match remote control toys such as airplanes developed by Chinese companies. However, with the influx of imported brand toys into the mainland market, some low-profile small and medium-sized enterprises products will indeed encounter great challenges. That is one of the reasons why some sellers lament that business is becoming more and more difficult. . 2016 China’s toy exports are still optimistic. China’s foreign trade situation in 2016 is still severe. From January to February, China’s total import and export value was 3.31 trillion yuan, down 12.6% from the same period last year. Seven categories of traditional labor-intensive products, clothing, textiles, Shoes, furniture, plastic products, luggage and toys, except toys, all showed negative growth, but toys still maintained an increase of 3.5% to 12.76 billion yuan, and the toy industry is still optimistic about China’s toy exports this year. Chairman Li Zhuoming said: The toy industry is somewhat special , Can stimulate market demand through product innovation. He believes that it has benefited from the recovery of the world market and the effective stimulation of market consumption by product innovation, and this year there have been many blockbusters such as 'Batman vs. Superman: Dawn of JusticeWith the promotion of paintings, it is believed that China's toy exports in 2016 will maintain a steady growth as in 2015.
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