Toys and games saw noticeably higher current value growth in Hong Kong in 2022, which was fuelled by the ending of pandemic restrictions by the local government. Traditional toys and games saw growth, although this was only marginally higher than the growth seen in the previous year.
Scientific/educational was undoubtedly the best-performing category within traditional toys and games in 2022, as local and foreign players alike responded to the huge demand in Hong Kong for these kinds of toys. There were multiple products within scientific/educational that became extremely popular in 2022, from model telescopes that are almost as good as commercially available telescopes, to interactive coding robots that allow children to learn the basics of coding.
The growth of traditional toys and games in Hong Kong has led to increasing fragmentation in terms of the number of brands available. While big players such as LEGO Co Ltd, Hasbro Hong Kong Ltd and Mattel East Asia Ltd continued to hold the leading positions in the category in value terms in 2022, many new players were able to gain share due to the increased demand for traditional toys and games.
In traditional toys and games, the lifting of the pandemic restrictions by the Hong Kong government led to an increase in footfall and sales for physical stores in 2022, with the share of offline sales rebounding slightly after many years of decline. There were a number of factors that led to a shift of consumers from online to offline, including the in-store experience, which cannot be experienced in the same way online.
Continued current value growth is forecast for toys and games in the forecast period, with solid growth expected for both traditional toys and games and video games. This is due to the lifting of pandemic restrictions, and the continuation of both the “kidult” and edu-tainment trends.
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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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