What Can Local Brands Learn From The Review Of Overseas Trendy Game Leaders?

The trendy game industry originated in Japan in the last century, and the current global and domestic market scale is expanding. As a strong IP market, Japan first provided excellent soil for the development of the industry; at the beginning of the 21st century, hipster games were introduced to the U.S. market, gradually strengthening integration with animation, film and television, including Europe and the United States, and a number of well-known hipster images and brands emerged, and the market expanded in terms of product capacity and scale; in 2005, hipster game studios and independent designers began to emerge in China, and international IP and products also came in. In 2005, China began to appear hip-hop studios and independent designers, and international IP and products also came in one after another, and the industry growth was subsequently triggered by Bubble Mart in 2015.

According to Frost & Sullivan 2016-2021, the global trendy toy market will have a 5-year CAGR of 24.5%, with a market size of about $29.9 billion by 2021, and is expected to reach $44.8 billion in 2024 with a CAGR of 10-15% in the following three years.

During the same period, the 5-year CAGR of China's trendy toy market is about 34.9%, with a market size of about $36.6 billion by 2021, and a projected CAGR of about 20-30% in the following three years, breaking through $70 billion by 2024. Overall, the global and domestic trendy toy market are in a fast development stage, and the scale is expanding.

Different from traditional toys, consumers buy tide play is the most important to meet the emotional, social and collection and other spiritual needs.

(1) On the one hand, unlike traditional toys, which usually have certain practical attributes and meet some functional needs, toys with collection and decoration as their core attributes are mostly driven by the need for self-pleasure and individual expression, and the emotional connection with the product is the source of user stickiness, as evidenced by the fact that Molly is the No. 1 IP of blind boxes in China. In addition, its fashionable and trendy attributes satisfy the social needs of young people in the Z generation, acting as a "social currency" among consumers, with a total of 36 Weibo hot searches related to trendy games from January to May 2022 alone, which has a high degree of discussion on social platforms. The scarcity and series sale mode mobilizes the desire to collect. Tide play handicraft has become the most expensive hobby, followed by trendy shoes, e-sports, etc. Paying for spiritual consumption and interest has become the commonality of new consumer groups.

Along with income growth, deepening spiritual demand and supply-side enrichment, the expansion of consumer groups and increased willingness to pay are driving the growth of the industry, with young people as the main domestic consumer group. As a spiritual consumption product, the foundation of economic level is a necessary condition for maturity. From the development history of the major hip-hop countries, the U.S. and Japan, after the per capita GDP exceeds 10,000 USD, there will be an explosion of spiritual consumption represented by the IP industry and the toy industry; and along with income growth, deepening spiritual demand and abundant supply side, the expansion of consumer groups and increasing willingness to pay have driven the industry to grow.