Despite a weak economic outlook for China over the forecast period, growth of traditional toys and games is poised to remain robust, driven by emerging consumer trends, policy initiatives, product innovations and channel restructuring.
The pandemic has impacted the traditional toys industry unfavourably in Southeast Asia, except for Singapore. This is a striking difference from other regions where a prolonged stay at home period and travel restrictions have is due mainly to economic strain which stopped consumers from purchasing non-essential goods, and the exponential rise of free-to-play video games. Despite the challenging environment, the toy industry in the region remains afloat and can look forward to the future, because of ‘kidults’.
Paperworld Middle East brings together world-renowned brands and regional players for an exciting three-day showcase, providing the ideal space to network, share ideas, source new products and discover new solutions that are sustainable, promote efficiency & productivity, and are cost effective.
Overall retail sales of video games increased by 14% in 2021, while sales of games published by Sony Corporation increased by 43%. One of the drivers behind Sony's plan to further expand its gaming empire is the increased demand for video games, brought about by COVID-19 and the launch of the PlayStation 5 console in late 2020.
There is growing environmental concern amongst consumers, with rising expectations that companies should do more to mitigate the effects their products have on the environment. Toy manufacturers are looking for opportunities to offer their products in ways that ease eco-anxiety and address the realities of a changing world.
Sales of toys and games enjoyed a strong revival in 2020 and 2021, as most of the world was embroiled in COVID-19 lockdowns. As consumers were mainly home-bound, with nowhere to go, there was stronger demand for both video games and traditional toys and games.
In this webinar, speakers will be providing insights that will help organisations from a range of sectors understand and navigate this emerging space as well as focusing on direct implications on the traditional professional sports industry.
Nostalgia in Western Europe had been growing in popularity over the past few years, but since the world was beset by Coronavirus (COVID-19), consumers have increasingly turned to the past to give themselves a sense of stability and manage their…