Business opportunity during pandemic - The rising of toy industry
/We’ve been ‘stuck’ at home since the beginning of 2020, it is already more than a year nowr. Some countries might start letting kids back to school, some countries might still struggle and decide to extend the lockdown. With this article, I would like to share my observation through all this pandemic time. How it affect our baby product business. You will be surprised that actually the toy industry are rising. And what toy category that rising up so much during pandemic.
Content:
| Toy industry's may be thanking to pandemic
| The rising toy category during pandemic
| Musical and art & drawing toys
Toy industry's may be thanking to pandemic
Parents pointed to loss of income and uncertain economic climate as two factors that would require them to rethink some of their spending even when stores reopen their doors. Just another factor certain to affect toy sales this year.
So what steps can toy makers take to head off these challenges? They must do what they do best: turn to new bells and whistles and think outside the box.
Toy brands should turn to new ways to engage moms and kids which allow them to interact with their toys.
Leveraging influencers to host in-home playdates that allow kids to touch and play with the hottest new toy while moms look on is just one way.
It might also include product demonstrations in driveways and cul-de-sacs, or the seamless integration of social media with platforms that really matter to moms.
Now is the time for toy makers to be as innovative with their marketing as they are with their new products. With a little creativity and strategic thinking, toy makers have the opportunity to navigate the shift in family toy buying that’s headed their way.
The rising toy category during pandemic
Building blocks
In late April, sales of Legos were up 64% year over year on eBay Australia, and rose as high as 92% one Sunday night. Basic Fun, the maker of Lite-Brite, Lincoln Logs, and K’nex—old-school toys that require users to think creatively and put things together with their bare hands—has also seen sales soar. Chief Executive Jay Foreman told the New York Post that the company had its best first quarter ever this year.
Read also: Building blocks for baby
Our recommendation
Plus-Plus: The construction toy with one shape and endless possibility! Build flat or in 3D. Fun for kids from age 1 to 101.
Newmero: Fun to play with numbers
Trampolines and playsets
Toys that let kids get their energy out have jumped: The Asians are interested in mini trampolines, while Americans are furnishing backyards with bounce houses, playground sets, and slides. The Chief Executive of MGA Entertainment, which manufactures play houses, basketball hoops, and trampolines, recently reported that sales were up 100% in March compared to 2019.
Our recommendation
Fold & go kids trampoline: Featuring pre-assembled trampoline mat with a padded frame cover, the Fold and Go Trampoline is easy to set up and doesn't use bungee cords.
Smart toys
Demand for smart toys is on the rise due to its user engaging property. Smart Toys are electronic component embedded toys that have their own intelligence and behaves according to the environmental stimuli. It enables to reduce the smartphone industry threat by using artificial intelligence to attract children. Many smart toys like Spin Master's interactive Luvabella baby doll, Hasbro's bluetooth-connected Furreal motorized pet, Barbie's futuristic hologram Barbie, Lego's app-based coding playset and Mattel "smart" baby monitor have been launched.
Read also: Recommended toys to develop child's skills for the future!
Our recommendation
PLUGO: The physical-virtual play is not only a lot of fun, but highly educational for youngsters.
Read more: 5 Recommended STEAM APP for children in 2020
Musical and art & drawing toys
Without formal art classes to attend, children are expressing themselves through drawing, painting, coloring, sculpting, and crafting. Music classes have been canceled along with the rest of school (not to mention live festivals and concerts).
Read also: Playing open-ended toy with Dena toys - My First Rainbow
Art & Drawing Toys, which includes play dough, putty and drawing tablets, went up in Russia (+35%), the UK (+141%), Germany (+159%), France (+261%), the US (+653%), and Brazil (+674%), compared to January. Musical Toys were also up in the Netherlands (+40) and Brazil (+166%).
Our recommendation
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