China’s toy industry e-commerce sales increased 8.8% to $1.3 billion (USD) in the first quarter of 2022 from the same period last year, and 27% compared to the first quarter of 2020.
PORT WASHINGTON, NY (PRWEB)
May 12, 2022
China’s toy industry e-commerce sales increased 8.8% to $1.3 billion (USD) in the first quarter (Q1) 2022 (January – March) compared to the same period l year, and 27% compared to Q1 2020, according to The Groupe NDP.
The three fastest growing supercategories in Q1 2022 were Exploratory & Other Toys, Games & Puzzles, and Plush, growing 33%, 24%, and 22%, respectively. In Explorative & Other Toys, Scientific Toys recorded the strongest growth, increasing by 40% compared to the first quarter of 2021, mainly driven by local Chinese brands such as Mi Jia, Science Can and Dream Start.
“The rapid growth of games and puzzles was primarily driven by puzzles for adults, games for children and preschool games, which could be explained by the lockdown,” said Stanley Kee, senior vice president and director general, APAC, The NPD Group. “Parents needed to use something to occupy their children, and many adults needed to find something to do for entertainment at home.”
Sales of licensed toys in the first quarter of this year increased by 14.1%, with Ultraman being the best-selling license. Mobile Suit Gundam, Lamborghini, Disney ‘All Other’, Disney Frozen, Mercedes-Benz, Harry Potter, Porsche, Bugatti and Mini Force round out the top 10 licenses.
The NPD Group expects continued strength in toy sales in China’s growing e-commerce channel. According to NPD’s Chinese Consumer Sentiment Study conducted in January 2022, when Chinese consumers were asked how comfortable they felt with their personal financial situation over the next six months, 85% said responded positively, saying their expenses would increase or stay the same. Similar responses were received when asked how their personal finances would affect their children’s spending, with most parents saying they expected their spending to increase or stay the same.
“China is the most populous country in the world with the largest number of online shoppers and retailers; and that trend continues to climb, fueled by the country’s growing middle class as well as its ever-increasing internet access and smartphone penetration for consumers across the country,” Kee said. “There is no indication that China’s e-commerce growth will slow down any time soon, providing a source of sales opportunities for brands around the world looking to tap into the Chinese market.”
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About the NPD Group
NPD is a global market intelligence company that offers data, industry expertise and prescriptive analytics to help our clients understand today’s retail landscape and prepare for the future. More than 2,000 companies worldwide rely on us to help them measure, predict and improve performance across all channels, including physical, e-commerce and B2B. We have services in 19 countries around the world, with operations spanning the Americas, Europe and APAC. Practice areas include apparel, home appliances, automotive, beauty, books, B2B technology, consumer technology, e-commerce, fashion accessories, food consumption, catering, footwear , home, home improvement, children’s products, multimedia entertainment, mobile, office supplies, retail. , sports, toys and video games. For more information, visit npd.com. Follow us on Twitter: @npdgroup.
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