Toys and games saw slower current value growth in 2022 compared with 2021. The industry saw dynamic growth in 2021 as the pandemic eased, and the growth rate decreased in 2022 as pent-up demand had already been released.
A major trend seen within toys and games in 2022 was the rise of e-commerce activities and omnichannel stores. The pandemic led more consumers to shift their shopping activities online to platforms such as Shopee or Lazada.
LEGO Singapore continued to lead traditional toys and games in value terms in 2022. It maintained its dominance in construction, and it continued to see share growth in both this category and overall traditional toys and games in 2022.
With non-essential retailers allowed to remain open in 2022, some consumers started to return to physical stores to make their purchases. However, the share of offline retailers increased only marginally in 2022, and was unable to return to anywhere near the pre-pandemic level due to the strength of e-commerce.
The high level of internet penetration in the country, coupled with increasing screen time amongst consumers in Singapore, is expected to lead to strong growth for video games categories such as mobile games, and online games and subscriptions, and a slower increase for traditional toys and games, although slowing current value growth rates are expected for both video games and traditional toys and games over the course of the forecast period. Many consumers eagerly await the release of new video games software titles and video games consoles, and thus stronger growth is expected for video games.
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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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