The Malaysian toys and games market maintained a positive performance during the COVID-19 crisis, primarily driven by the rising demand for video games. The video games category benefited from consumers looking for ways to entertain themselves and their children during long periods spent at home under the Malaysia Movement Control Order (MCO) introduced in response to the pandemic.
Malaysian borders were closed to foreigners on 17 March 2020. The Malaysia Movement Control Order (MCO) started on 18 March and included measures such as limited operating hours for grocery retailers (from 08.
Traditional toys and games manufacturers and distributors were badly affected by the COVID-19 crisis, seeing the closure of businesses and significant restrictions on operations during lockdown. Moreover, consumers cut down on spending on non-essential goods in an uncertain economic environment, while the stay-at-home order resulted in less time spent in shopping centres and, therefore, less exposure to traditional toys and games products.
Malaysia saw the forced closure of non-essential businesses for around two months in 2020 as a result of the COVID-19 crisis. This led to the suspension of manufacturing of toys and games, with companies relying on existing stocks.
The challenging economic conditions resulting from measures introduced to limit the spread of COVID-19 are likely to exert an enduring influence on the development of the Malaysian toys and games market during the forecast period. The combination of the first lockdown from March 2020, the more relaxed Movement Control Order in the third and fourth quarter of 2020, and the second nationwide lockdown from January 2021 coupled with the declaration of a state of emergency until August 2021 has led to an uncertain economic environment, job losses and pay cuts.
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This report originates from Passport, our Toys and Games research and analysis database.
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