Against the Odds 2023, Toy Growth Opportunities Hidden in These Two Categories

 

1，Plug-in blocks

  In the toy category, building blocks has always been a large category, competition is quite fierce, the opportunity is also obvious. 2023 first half of the online construction of building blocks related sales of 3.68 billion yuan, an increase of 36.9% year-on-year. Even with the presence of the behemoth of LEGO, it is difficult to stop players to go after, for example, the trend brand TOP TOY under the famous Yuping hit the slogan "Chinese building blocks", and in this year's new more than 200 own SKUs, about 150 belong to the building blocks.

  In the car toys market is quite representative of the Starlight Entertainment is around the acquisition of the famous car enterprises authorized IP, R & D and production of a variety of puzzle toys, including the Pagani series of educational assembled blocks, Ferrari SF1000 assembled RC car, Audi R8 lms gt3 assembled block car, Maserati block car, and so on.

  Not only that, even Bubble Mart also aimed at the block industry, and in Bubble Mart 23 years of shareholders meeting, there is information revealing that Bubble Mart will be based on the advantages of its own IP, and combined with the IP with blocks to create a scene of play space, plans to the end of this year will be the launch of the block category. For Bubble Mart, the blocks of this category can not only pry new growth, more importantly, Bubble Mart's target customers are young women in their 20s group, their favorite products will also be transferred to the future of the child, through the blocks can be very natural to establish the emotional link between mother and child, which will help the brand heritage.

  Outside the price, the common product innovation game is mostly focused on "IP +", carrying traditional cultural elements, such as Senbao's Wandering Earth, Shandong ship IP series, enlightenment and King of Glory, treasure dream IP series, Bruker's Ultraman building block man, piggy Peach series. However, in the context of the prevalence of the national trend, there are also players to integrate traditional mortise and tenon technology into toys, in the crowded track to grab the first to run out, such as coincidence blocks.

  As can be seen, for toy brands, and popular IP co-branding can also increase the added value of the product, such as collection models, limited editions, gift boxes, etc., so as to enhance the brand's premium ability. It is worth paying attention to the 2022 Magic Mirror e-commerce listening data shows that in the Tmall and Jingdong platform on the building blocks of IP keywords, Tmall platform in the highest frequency of appearance is the Ultraman series, crayon Xiaoxin and Sun Wukong, etc.; in the Jingdong, the sound volume is more prominent is Harry Potter, Peggy and the little yellow man.

  But in the long run, many brands choose the building blocks category to explore the incremental market, I'm afraid the greater reason is that one of the toy category of the puzzle, compatibility, collection properties, and its target population can cover 1.5 years old to 99 years old consumers, such as parenting needs of mothers and children's families to buy this category, the young people are interested in the building blocks category will also buy the category, friends and relatives New Year's gifts the category is also a generous and decent first choice. Generous and decent first choice, visible re-purchase of the category is also the strongest in the toy category;

  The second is backed by the perfect toy industry, which is also the opportunity for the rise of domestic building blocks. Although the industry Lego entrenched in the market for many years, another way to look at it, the emergence of Lego has long educated a group of "blocks" loyal enthusiasts, but this group of enthusiasts are not everyone can afford to buy Lego, the unsatisfied consumer demand for high-quality block brands to undertake, and this is also the opportunity for domestic block brands. According to the Huajing Industry Research Institute "China block toy industry brief version of the analysis report" shows that, at present, the domestic block toy market size of more than 13 billion yuan, and in recent years in the Chenghai there are more than 100 blocks of new brands. So, whether it is to follow the popular national trend, dig deep into the traditional Chinese cultural elements, or cross-border co-branding of well-known IP, all want to get out of their own differentiated development road.

 

2，Plush toys

  Then look at the plush toys category, the sense of healing and companionship brought by the category has almost made it possible for men and women of all ages to eat, and children and young people who like plush toys will even buy a whole basket of plush toys, spreading and crowding the entire bed, and what's more, some people will share photos of plush toys on social media platforms from time to time and some people will take plush toys on their trips. For example, Ikea's up to $ 129 shark, golden dog, strawberry bear, and even the recently popular Little Red Book orangutan dolls, as well as its own positioning for baby soothing toy brand jELLYCAT's rabbit, eggplant dolls, etc., to "anthropomorphic" innovative play, to each plush toy injected the soul, whether it is ugly and cute or full of personality design, all of them make the plush toys to be more attractive. Whether it's ugly, cute, or full of personality, the designs delight adults who are still young at heart.

  

  For example, Disney's Ling Na Belle and Star Dew, once originally priced at more than $200, Ling Na Belle (launched by Disney in 2021) was even speculated by scalpers to $2,288, a premium of nearly 10 times. To this day, in the storyless bunch of IP dolls, Ling Na Belle is still the top stream doll image.
  If young people and dolls get along with the "anthropomorphization", "experience", such as made into interesting emoticons, or DIY hands-on dress up doll image to share on social platforms, so that they become a cure for their own "Hakimi! Hakimi". On this basis, brands are also racking their brains, with novel and peculiar, or ugly, cute design to seize the attention of consumers, so that people who have access to dolls to fall in love with it. Take jELLYCAT for example, in pushing new products, from animals, plants to food are integrated into the jELLYCAT family, so much so that it has attracted a group of loyal users who collect jELLYCAT dolls. At the same time, jELLYCA new product launch, there will be a series of album covers, movie posters, magazine covers followed, constantly refreshing the freshness of consumers. And positioning high-end cloth dolls struggle rabbit production company asked the child, with "Chinese culture" to capture the young people. As the first domestic cloth dolls and trend elements combined with the original doll brand, ask the child advocates "subversion of tradition" brand concept, through the collision of Chinese culture and cutting-edge design mingling, gives the doll more spiritual core. The popularity of its struggling rabbit has attracted a group of consumers to pay attention to this type of product.

  At the same time, the plush toy fire also led to the sale of baby clothes, combing hair, change the development of the industrial chain, some people do not hesitate to pay thousands of dollars just to give baby with a set of high-grade "checkroom". Visible, plush dolls in China's main consumer groups have shifted from children or teenagers to adult groups.
  It is worth noting that the IP brand licensed image of plush fabric toys to get more consumers love. Taking the famous brand as an example, its plush dolls with Disney strawberry bear, Sanrio's Yuji dog, cool Lommy and so on are all sought after by consumers.

  In the face of changing market conditions, toy companies how to withstand the winter? August 29th Jinan, organized by the maternal and child industry watch "way out - new channel conference & growth category conference" will be heavy attack, look forward to your arrival, and industry senior practitioners to discuss the future development of the toy industry ~