Lockdown restrictions, such as the closure of non-essential businesses, limits on public transport, and a ban on minors going out, caused a decline in traditional toys and games in 2020.
While all categories fell in 2020, there were some that performed better than others. Parents tried to find ways to entertain their children and encourage them to be more creative while stuck at home.
Because of store closures during COVID-19 lockdowns, consumers looked towards alternative purchase options in order to buy products in 2020. A lot of consumers opted to buy products online, even after stores reopened due to lack of public transportation and fears of contracting the virus from public places.
Traditional toys and games is expected to start to rebound in 2021. However, growth will be slower than in 2019, ie pre-pandemic.
While traditional toys and games is expected to continue to grow in the future, growth within video games is expected to surpass this. The rise in the penetration of mobile phones and tablets due to the availability of increasingly cheap options, as well as improving coverage of better internet and broadband cellular connections will lead to video games becoming more accessible to consumers.
Beyond offering action figures and plush toys as merchandise for online games, it is likely that there will be increasing collaboration between traditional toys and games companies with online gaming companies. For example, LEGO has introduced Mario interactive sets which help fans play with iconic characters in the real world.
As consumers get more comfortable buying through online platforms, e-commerce is expected to continue growing in the forecast period. However, parents and children will still continue to prefer the experience of going to a bricks-and-mortar store to compare and inspect items prior to purchase.
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Understand the latest market trends and future growth opportunities for the Traditional Toys and Games industry in Philippines 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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