China is a big toy manufacturing country. About 75% of the world's toys are made in China. The export volume of toys is large, but the overall appearance is large but not strong, and the company is small and scattered. In recent years, due to the impact of electronic products, domestic traditional toy manufacturers are experiencing a cold winter. The traditional single profit model of toy companies is fragile, and it is urgent to carry out transformation and upgrading, broaden the source of profit, and reduce the risk of business operations.
China's toy industry has a long history. At present, it has formed a mature ecosystem, a complete industrial chain, and a clear global market. It has formed six toy production bases in Guangdong, Shandong, Jiangsu, Zhejiang, Shanghai and Fujian. The total number of production enterprises exceeds 12,000, the number of employees in the industry reaches 6 million, the number of industrial clusters reaches 20, and 7 A-share listed companies. However, Chinese toy companies are still weak in terms of innovation, research and development, and branding. One of the problems: the single profit model, relying heavily on traditional physical sales.
According to the data of the Prospective Industry Research Institute "China Toy Manufacturing Industry Production and Sales Demand and Investment Forecast Analysis Report", from January to July 2017, the toy industry's production and sales rate was 97.7%, an increase of 0.1%; the cumulative export delivery value was 53.66 billion yuan. Accumulated a year-on-year increase of 4.7%. The main business income was 132.72 billion yuan, a cumulative year-on-year increase of 12.3%; the total profit was 6.33 billion yuan, a cumulative year-on-year increase of 18.5%.
2010-2016 global toy market consumption trend chart (unit: billion US dollars)
Source: Prospective Industry Research Institute "Toy Manufacturing Industry Analysis Report"
From the perspective of industry development, international toy giants firmly grasp the most value-added part of the industrial chain. Most domestic toy companies are concentrated in the low-end of the industrial value chain. The data shows that in 2016, domestic toy enterprises above designated size A total of 1,313, of which more than 90% are OEM-based, only earn processing fees.
Although the scale of domestic toy companies is small but growing rapidly, the growth rate of net profit of main board and new three board enterprises is 5 times and 25 times that of overseas leaders respectively. The world toy giant is expected to be born.
From the perspective of market space, the growth of the toy industry in North America is limited, the domestic second-party dividends are superimposed on consumption upgrades, and the market capacity is huge. China's toy market is huge, and there is room for growth in the future.
The blocks and puzzle toys are ranked first and third in the sales of Amazon's overall toy category in China. This data also shows that the choice of children's toys in China is also biased towards educational education.
Faced with rapidly changing market hotspots and different levels of consumer demand, toy companies must have a more sensitive response capability in order to seize the opportunities in the market. From this perspective, toy companies with strong R&D capabilities and innovative capabilities will undoubtedly have a greater competitive advantage.
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