Toys and games continued to increase in current value terms in 2018, due to growth in both traditional toys and games and video games. Although the latter saw a much stronger performance, both categories saw slower growth in 2018 than in the previous year.
South Korea is facing the major challenge of a lower birth rate; this was one of the main factors hampering growth in 2018. According to Korea Statistics, the birth rate was 0.
NCsoft Corp led toys and games until 2014, when it was overtaken by Netmarble Games Corp; however, in 2018 NCsoft Corp retook the lead. Both these players are present in video games.
The share of internet retailing increased once again in toys and games in 2018; dominating distribution. A rise in the share of internet retailing was seen in traditional toys and games, whilst although the value share of internet retailing within video games remained similar to the previous year, the channel accounted for nearly all sales.
Toys and games is expected to see a slower current value CAGR over the forecast period than was seen in the review period. Growth in traditional toys and games will be hampered by the declining number of new-born babies, partly due to the declining marriage rate because of slower economic growth.
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