Dublin, Sept. 26, 2024 (GLOBE NEWSWIRE) -- The "Where Consumers Shop for Toys and Games" report has been added to ResearchAndMarkets.com's offering.
Despite the strong growth of e-commerce, offline retail remains important for toys and games companies. Consumers are increasingly looking for immersive experience for families in-store, where they can spend leisure time at the weekend. Having consumers spend time in stores increases the possibility of additional purchases. Applying an omnichannel strategy will cater to consumers' evolving needs.
Key Findings
The power of pop culture influences sales
The box office success of Barbie and Super Mario Bros has benefited toys sales amidst high inflation and economic uncertainties. Toy manufacturers are capitalising the momentum through collaboration with other industries, such as fashion.
Traditional toys and games stores focus on offering interactive experiences
Traditional toys and games stores increasingly rely on creating an interactive experience in stores, with dedicated play areas and engaging displays for customers to see and try products. Lego continues to open more stores in smaller cities to reach more consumers.
Hypermarkets remain popular for their deals and one-stop shopping solution
Hypermarkets maintain a strong position, based on their low prices and wide product ranges, with consumers in North America and Australasia still preferring to have a one-stop shopping solution.
E-commerce will continue to outpace offline stores
E-commerce will continue to outgrow offline retail, driven by strong growth in mobile games, and consoles games companies pushing the transition towards digital copies. For traditional toys, price and wide product variety remain the biggest drivers of online purchasing.
Omnichannel strategies cater to the evolving demands of today's consumers
Physical stores and e-commerce complement each other in driving growth in the overall market. Consumers can go to stores to see and try products, and then purchase them online when there is a price drop. Consumers also have convenient options, such as click-and-collect.
The Where Consumers Shop for Toys and Games global briefing offers a comprehensive guide to the Toys and Games market at an international level. It looks at both global and regional level performances as well as providing category and channel analysis. It identifies the leading companies and offers strategic analysis of key factors influencing the industry, new product developments as well as future trends and prospects.
Product coverage: Traditional Toys and Games, Video Games.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
Key Topics Covered:
Industry snapshot
- Recovery in toys and games fuelled by the power of pop culture
- Digitalisation continues to fuel the popularity of video games
- Toy companies are shifting their focus to emerging markets
Channel shifts
- E-commerce continue to outpace physical stores growth
- Store-based channel remains crucial in emerging markets
- Omnichannel strategies will help grow the market
Store-based channels
- One-stop shopping solution remains the biggest offline sales driver
- Specialist retailers set for a rebound
- Manufacturers and retailers are racing to build more stores
- The return of Toys "R" Us is expected to change the market landscape
- Hamleys turns its focus towards experiential retail and digital strategy
- Lego continues its aggressive store expansion
- Hypermarket remains the go-to channel in North America and Australia
- Western Europe and Asia Pacific account for the bulk of private label sales
Non-store channels
- E-commerce continues to gain share in toys and games
- E-commerce growth for traditional toys and products slows after the spike in 2020
- Companies focusing more strongly on their digitalisation strategies
- Latin America to continue generating strong e-commerce growth
- Amazon continues to expand its toys and games SKUs
Future developments
- "Kidults" remain a crucial growth driver
- Mobile games will be the largest growth driver in toys and games
- E-commerce to continue outpacing retail offline at a slower rate
- Key takeaways
Company Coverage Includes:
- Toys "R" Us
- Hamleys
- Lego
- Amazon
For more information about this report visit https://www.researchandmarkets.com/r/hupy70
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