After seeing current value growth during most of the review period, store closures caused by the COVID-19 lockdown negatively impacted traditional toys and games in 2020. Even after lockdown restrictions were eased and stores began reopening in Q3-Q4, parents were still apprehensive about letting their children outside, due to fears of contracting the virus, preferring to keep them safe at home.
However, performances were very mixed across traditional toys and games. Categories that registered growth included the largest within traditional toys and games, construction, and games and puzzles.
Hasbro (Thailand) maintained its lead in traditional toys and games in value terms in 2020, thanks to its offer of a range of well-known licensed products and brands, such as Transformers, Avengers and Star Wars. However, the company saw a share decline, as it has a strong presence in one of the largest categories, action figures and accessories, which saw the most significant decline in 2020.
Traditional toys and games is set to return to current value growth in 2021. However, the new wave of COVID-19 in Thailand at the beginning of the year is expected to slow recovery, and growth will therefore remain lower than in most years of the review period.
Although all categories are predicted to see positive current value CAGRs over the forecast period, the growth of traditional toys and games is expected to be slower than video games. As internet usage rises, children are more likely to opt for online and mobile games, which will thus pose a threat to the growth of traditional toys and games.
Despite the sharp rise in sales of traditional toys and games via e-commerce in 2020, this was due to the exceptional circumstances, and growth is expected to be slower for this distribution channel over the forecast period. This is because both parents and children prefer the whole experience of going to stores and reviewing the toys on the shelves before buying, checking features, making comparisons, handling the toys, checking their quality and seeing how they work.
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Understand the latest market trends and future growth opportunities for the Traditional Toys and Games industry in Thailand 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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