January sales posted the strongest growth in the quarter thanks to toy purchases around the Chinese New Year holiday
PORT WASHINGTON, NY, June 7, 2021 / PRNewswire-PRWeb / – Toy industry e-commerce sales in China increased by 16% for $ 1.2 billion (USD) in the first quarter (Q1) of 2021 (January – March) compared to the same period last year, according to The NPD Group. January 2021 posted the highest growth rate (34%) for the quarter, with sales mainly driven by purchases made for the 12 February Chinese New Year celebration.
All toy supercategories posted growth in the first quarter, led by baby / toddler / preschool toys, the largest of 11 supercategories, which increased 3%. The other top performing supercategories included building sets, outdoor and sports toys, action figures and accessories, and exploration and other toys. With sales reaching $ 192 million, Outdoor & Sports Toys posted the highest gains in terms of sales value, an increase of 18% from the first quarter of 2020.
Sales in from China The toy market was dominated by Chinese manufacturers, with just four of the world’s top 10 manufacturers.
“China is the world’s second largest toy market and the world’s largest toy production base, âsaid FrÃ©dÃ©rique Tutt, global toy industry analyst at The NPD Group. âIt’s a country that is ready for savvy international brands looking for opportunities in new markets. Even though the growth rate slowed in 2020 due to the global pandemic, China outperformed other countries in the region and is already rebounding. With the latest two-child policy easing and a steadily growing middle-class population, we expect the healthy growth of the Chinese toy market to continue. “
Sales of licensed toys increased 45%, while sales of unlicensed toys increased 13%. The top-winning toy licenses in the first quarter were Ultraman, Lamborghini, Mercedes-Benz, Ferrari, and Disney Frozen.
Chinese New Year Highlights
According to the 2021 NPD Chinese New Year Gift Study, toys and games were the most requested gift categories for Chinese children. When making their holiday gift lists, 46% of kids asked for toys containing their favorite cartoons, TV shows, and movies. Social media has also had a significant impact on children’s wish lists, with 45% of kids asking for toys they’ve seen on short video platforms like TikTok and WeChat.
Chinese consumers spent on average $ 91 on Chinese New Year gifts in 2021, an increase of 39% from the first quarter of 2020. Online shoppers spent on average $ 12 more than consumers who bought toys from brick and mortar stores.
About the NPD Group
NPD offers data, industry expertise and prescriptive analytics to help our clients grow their businesses in a changing world. Over 2,000 businesses around the world trust us to help them measure, forecast and improve performance across all channels, including physical commerce, e-commerce and B2B. We have services in 19 countries around the world, with operations covering 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.
David riley, The NPD Group, 9175435465, [email protected]
SOURCE The NPD Group