In 2020, India had one of the highest number of cases globally, and the country was put under strict lockdown from 25 March. The biggest losses were suffered by discretionary products, as consumers put such purchases on hold.
For over two years, the Indian government has been taking measures to ensure the consumption of quality products, whilst also pushing for growth of Made in India products. With more than 80% being imported toys in 2020, the quality regulations which require stocks/consignments to be cleared by the Indian authorities (testing labs), along with national lockdown, caused significant supply shortages.
During lockdown, efforts were made by the Indian government to generate awareness of COVID-19 and the need to stay at home to prevent transmission of virus. Thus, even when the lockdown was lifted and India entered Unlock 1 through 4, consumers were uncertain about stepping outside of the home due to the threat of infection.
Slow recovery is expected for traditional toys and games, due factors ranging from delay in the clearance of imported toys to a second, more deadly wave of COVID-19 in the first half of 2020. Players have reported that even by the end of Q1 of 2021, the stocks were not cleared by the testing authorities, this has resulted in supply shortages of branded as well as unbranded toys.
The primary target audience for traditional toys and games, which is usually children under the age of 12, is showing a slowing trend. According to Euromonitor International’s Economies & Consumers annual data, the number of baby/infant (aged 0-2), children (aged 3-7) and tweens (aged 8-12) are likely to show static or slight negative CAGRs between 2020 and 2025.
In 2020, due to lockdown and consumer caution, people relied heavily on online platforms. As more consumers experimented with e-commerce and experienced the benefits of choice, comfort of ordering from home, discounts and multiple modes of payment, they are likely to continue buying from these platforms.
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Understand the latest market trends and future growth opportunities for the Traditional Toys and Games industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Traditional Toys and Games research and analysis database.
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