Toys and games saw dynamic growth in current value terms in 2022, with it outperforming the review period growth average. Traditional toys and games saw a full sales recovery having suffered heavy losses in 2020 following the outbreak of COVID-19.
Like many global markets Mexico was hit by high rates of inflation in 2022, with manufacturing, energy, and logistical costs rising as a result of factors such as Russia's invasion of Ukraine and China’s zero-COVID-19 policy. For example, the increased cost of petroleum derivatives, polyethylene and ethylene, which are basic raw materials for many toys and games, placed a significant strain on manufacturing costs.
A growing number of companies are investing in manufacturing facilities in Mexico as they look to fulfil local demand as well as having a base to export their products to North and Latin America. According to the president of the Mexican Association of the Toy Industry, Mexico has become a key region for international toy companies to invest in setting up manufacturing plants.
During 2022 promotional events continued as retailers looked to drive demand for toys and games. These included events that are already established in the country such as Buen Fin (November), Hot Sale (May), Children´s Day (30 April) and recently Super Día de los Niños (early December), while promotions and events also focused on traditional celebrations such as Christmas (25 December) and Día de Reyes (6 January).
Both traditional toys and games and video games are expected to see strong growth in value terms (at constant 2022 prices) during the forecast period, with the latter likely to remain the more dynamic category. Sales of traditional toys and games should benefit from an anticipated post-pandemic economic rebound and more stable inflation.
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Toys and Games
This is the aggregation of traditional toys and games and video games.See All of Our Definitions
This report originates from Passport, our Toys and Games research and analysis database.
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