Retail sales of toys and games saw a slowdown in growth in constant value terms in 2022. Demand was hampered by a continued decline in the national birth rate, which was reportedly the lowest in 71 years.
With the birth rate continuing to fall, the kidult trend played an important role in maintaining demand for traditional toys and games. The definition of a kidult is an adult who enjoys buying toys that are typically deemed more suitable for children, particularly action figures and accessories.
Hasbro (Thailand) maintained its lead in traditional toys and games in value terms in 2022. thanks to its portfolio of well-known licensed products and brands, such as Transformers, Avengers and Star Wars.
Due to the overwhelming popularity of mobile and ongoing gaming, e-commerce is now established as the dominant distribution channel for toys and games, having registered dynamic growth during the review period. Within video games software, digital games now dominate, with very limited demand for physical formats.
Traditional toys and games will see a robust performance during the forecast period, supported by the easing of COVID-19 restrictions and an anticipated post-pandemic economic rebound, with a recovery in international tourism set to play an important role in this development. However, these positive factors will partly offset by the ongoing decline in the birth rate, as younger consumers chose to delay marriage and have fewer children.
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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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