Despite the strong growth of e-commerce, offline retail remains important for toys and games companies. Consumers are increasingly looking for immersive experience for families in-store , where they can spend leisure time at the weekend. Having consumers spend time in stores increases the possibility of additional purchases. Applying an omnichannel strategy will cater to consumers’ evolving needs.
This report comes in PPT.
The box office success of Barbie and Super Mario Bros has benefited toys sales amidst high inflation and economic uncertainties. Toy manufacturers are capitalising the momentum through collaboration with other industries, such as fashion.
Traditional toys and games stores increasingly rely on creating an interactive experience in stores, with dedicated play areas and engaging displays for customers to see and try products. Lego continues to open more stores in smaller cities to reach more consumers.
Hypermarkets maintain a strong position, based on their low prices and wide product ranges, with consumers in North America and Australasia still preferring to have a one-stop shopping solution.
E-commerce will continue to outgrow offline retail, driven by strong growth in mobile games, and consoles games companies pushing the transition towards digital copies. For traditional toys, price and wide product variety remain the biggest drivers of online purchasing.
Physical stores and e-commerce complement each other in driving growth in the overall market. Consumers can go to stores to see and try products, and then purchase them online when there is a price drop. Consumers also have convenient options, such as click-and-collect.
This is the aggregation of traditional toys and games and video games.
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