After many years of growth, in 2023 toys and games in South Korea witnessed a notable current value decline, with traditional toys and games seeing only a slight fall in sales, and video games a stronger decrease. Toys and games witnessed a decrease in sales for several reasons.
In traditional toys and games, the kidult trend persisted in 2023, with many consumers preserving their childhood nostalgia through consumption activities. Various toys based on characters gained popularity across all age groups.
In traditional toys and games, LEGO Korea stood out as the sole player achieving a double-digit value share in 2023, firmly maintaining the top position. LEGO successfully appeals to both children and kidults.
Consumers increasingly favour retail e-commerce in traditional toys and games, due to the convenience of shopping from home, competitive pricing, and a wide selection of products. This trend was significantly accelerated during the pandemic, as consumers sought safer and more convenient ways to shop.
Toys and games in South Korea is set to return to growth in current value terms in the forecast period. Traditional toys and games is set to experience growth due to various factors, including new character developments, AI advances, the kidult trend, and edu-tech innovations.
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Toys and Games
This is the aggregation of traditional toys and games and video games.
See All of Our DefinitionsThis report originates from Passport, our Toys and Games research and analysis database.
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