Video games sales in Hong Kong continue to be supported by huge demand for online and mobile games. In Hong Kong, consumers have access to fast internet connections and large bandwidth, with this helping to support video games sales.
The STREAM (Science, Technology, Robot, Engineering, Art, Mathematics) trend continues to grow in Hong Kong, with an increasing number of consumers looking for toys that are both fun and educational and that help to develop their children’s skills. In a bid to increase interaction and engagement with consumers, manufacturers of traditional toys and games are looking for different ways to incorporate new technologies, such as AR/VR and robotics.
Prices remain relatively stable within traditional toys due to the impact of Hong Kong’s low birth rate and a further drop in the price of video games hardware such as static consoles and AR/VR headsets, with this a result of high levels of competition. Although international manufacturers such as LEGO remain strongly positioned within traditional toys and games due to the popularity of their major brands, a large share of sales is accounted for by regional and local toymakers.
Store based/retailers such as Toys “R” Us remain the most popular distribution channel for traditional toys and games in Hong Kong. Most parents still like to physically see and test products before purchasing, often together as a family.
As a larger proportion of children turn to electronic devices such as mobile phones and tablets, traditional toys and games faces a huge substitution threat. Consequently, the growth of traditional toys and games will be suppressed by the popularity of video games and a low birth rate.
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