Despite frequent outbreaks last year, China's toy exports still reached a record high, reaching 322.92 billion yuan! In the domestic market, ice piers, ducks and all kinds of fashionable toys have also caused young people to rush to buy them, which has obviously boosted consumption. This year, in the overall situation that China's economic development focuses on "promoting consumption, expanding domestic demand and stabilizing foreign trade", can the toy industry make persistent efforts to improve its record? At the 35th International Toys and Educational Products (Shenzhen) Exhibition (hereinafter referred to as "Shenzhen")

　　Shenzhen Toy Fair will be held in Shenzhen International Convention and Exhibition Center (Bao 'an New Hall) from April 7 to 9. The reporter specially interviewed Li Zhuoming, president of Guangdong Toy Association, a large toy production base in China, and had in-depth exchanges with the business community.

　　2022 Shenzhen Toy Fair (data breakthrough)

　　Significant changes have taken place in global toy consumption

　　"The market situation faced by China toy industry in 2023 is more complicated and severe." President Li Zhuoming told reporters: "Although the export value of toys in China reached a record high last year, up by 9.1% year-on-year, it is partly due to the increase in product prices. Whether the industry can grow steadily this year depends on the development of the market, and there are many uncertain factors in the future."

　　It is reported that China's toys account for about 70% of the world market, while Guangdong is a large toy production and export base in China. Thanks to the rapid expansion of toy consumption such as models, hand-made toys, fashion products and game consoles to adults in recent years, the global toy consumption reached 100.4 billion US dollars last year, and the domestic market scale also exceeded 100 billion yuan.

　　Li Zhuoming told reporters that after the outbreak of the epidemic in COVID-19, epidemic prevention and quarantine measures once stimulated the global toy consumption fever, and puzzle blocks and other toys suitable for home-based parent-child entertainment sold well in the market. But by the fourth quarter of last year, the consumption fever ebbed obviously. In the two major toy consumption markets in Europe and America, there were still many toys left on the shelves of shopping malls after Christmas, and the sales were much worse than the previous year. Toy multinational companies such as Hasbro, Disney and Mattel are all facing huge inventory pressure and poor performance. This year, they have announced layoffs, and the market prospect is not optimistic.

　　However, with the optimization of epidemic prevention and control measures in China, all industries are happy, the economy is recovering rapidly, and the domestic sales potential is being released. During the Spring Festival this year, the indicators of domestic consumption are ideal, and the growth momentum of the domestic market is strong, which has doubled the confidence of the toy industry. This year, Shenzhen Toy Fair has attracted more than 1,400 domestic and foreign enterprises to display their products, and the number of pre-registered buyers has continued to rise. The toy industry has a strong desire to expand the market, seize orders and promote consumption.

　　2022 Shenzhen Toy Fair (data picture)

　　Enterprises actively innovate products to cope with market changes

　　Shenzhen Toy Exhibitors are known as the "wind vane of China toy market", and the market consumption and trend can be roughly predicted from the exhibition. "This year, building blocks, cards, Rubik's Cube, blind boxes and other categories are still expected to sell well, but plush toys and collectible pocket models authorized by animation IP are more likely to explode." The industry veteran of the exhibition organizer told the reporter: "It is precisely because of the huge business opportunities that the innovation of the above products is particularly prominent, and the enthusiasm for seizing the market continues to rise."

　　Exhibitors show their products to buyers (data pictures)

　　It should not be overlooked that foreign toy brands are obviously trying to explore the China market, and well-known animation IP derivative products such as Disney, Altman and Pokémon are available in this exhibition. Many domestic brand companies have found another way to promote products such as national trends and military themes, such as well-known building block brands "Senbao", "Enlightenment" and "Xiaoluban", which are very prominent in this respect. Some enterprises are optimistic about the toy consumption power of young people, and have launched plush toys that simulate pets such as cats and dogs according to their needs. ChatGPT (Chatgpt), which has recently aroused heated discussion in society,

　　), toys also have embryonic products, and many enterprises in this Shenzhen Toy Fair have audio toys on display.

　　2022 Shenzhen Toy Fair (data picture)

　　In order to help enterprises better grasp the pulse of the market, the organizers of the exhibition also organized the "Demystifying Cross-border Traffic Passwords-—2023 TikTok Overseas Live Ecological Exchange Conference" and "Playing Co-branding, Customization, Authorization and Flash-2023"

　　Chain brand new retail seminar, 2023 Guangdong-Hong Kong-Macao Greater Bay Area Brand Authorized Industry Development Forum and 2023 China Children's STEAM Innovation and Development Forum, as well as awards and exhibitions of Chinese and foreign toy awards, etc. Interested parties can pay attention to the exhibition official website. Make an appointment to participate.

　　2022 Chinese and foreign toy awards exhibition area (data picture)

　　The dominant position of China toy industry remains unchanged.

　　The Regional Comprehensive Economic Partnership Agreement was implemented last year, and all parties including China promised to reduce tariffs, open markets and reduce standard barriers to facilitate trade development. The production cost of enterprises in ASEAN countries is lower than that in China. Will this affect China's labor-intensive industries such as toys?

　　On this issue, President Li Zhuoming said that although the production cost of ASEAN toy counterparts is relatively low, China enterprises have more advanced production technology, equipment, talents and perfect industrial chain, and China's social environment is safe and stable, and delivery is guaranteed. Therefore, many brand companies still prefer to hand over products with high quality requirements to China enterprises. China's industrial advantages will not change in the next decade. The shortcoming that the current industry urgently needs to make up is the lack of world-renowned brands. Therefore, the Shenzhen Toy Fair has specially set up a display area for products winning the "Chinese and foreign toy awards" to fully support China enterprises to innovate products and become big brands.

　　In fact, many toy companies are aware of the pressing situation, take the initiative to upgrade and differentiate their development, and actively declare "specialized small and medium-sized enterprises" and "specialized small giants". At present, more than a dozen toy companies have been recognized by the government. "As an industry association, we strongly support enterprises to specialize and innovate. Toys are creative products, and specialization and novelty can not only effectively expand the market, but also reduce the pressure of homogenization competition. " President Li Zhuoming said this.

　　Shenzhen International Exhibition is a professional exhibition, and only adults over the age of 16 are allowed to visit and purchase the exhibition. However, the last half day of the exhibition, that is, after 12 noon on April 9, is open to the public. Many exhibitors will sell their exhibits at low prices, and all kinds of small e-commerce, Wechat business and citizens can enter the market to sweep the goods.

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