Intelligent toy market analysis, with the development of toys towards high-end products, research and development of technical and practical toys has gradually become a recognized protection barrier in the industry, focusing on improving the technological content of products, controlling the cost of products, to meet market demand, toy-class drone companies to improve Only in its own core competitiveness can we win in this battle.
In 2016, China's toy industry grew strongly, contrary to the development trend of China's recent light industry. In 2016, China’s total exports fell by 7.7%, and total imports fell by 5.5%. Toy exports increased by 9.5% and imports increased by 23%. Although the low production costs in India and Vietnam have attracted many investors, China's toy market has great prospects due to the good toy manufacturing process in China and the booming toy consumer market. Given the maturity of the Chinese toy industry, foreign investors must enter into the Chinese market and compete with mature companies to develop certain strategic plans.
In general, foreign brands dominate the high-end toy market, while domestic brands control the low-end market. Interactive electronic toys are more popular than traditional toys (such as human figures, smart toys, etc.) and grow even faster. In particular, toys that are interactive and educational are most popular with parents. In addition, consumers of all ages have no “resistance†to cartoon character plush dolls, whether children or adults. Although Chinese local cartoon characters are gradually entering the line of sight, Japan and the United States are still the dominant players in this industry, and South Korea also occupies a small part.
Although the overall performance of the Chinese toy industry is better than light industry, it still faces many challenges. The competition among domestic toy manufacturers is fierce, and the cost competition is the most prominent, which has depressed the overall profit of the toy industry. While land and labor costs continue to rise, manufacturers are increasingly pursuing efficient production technologies, which means that early-stage technology investments are increasingly important. A combination of considerations has led many manufacturers to consider lower cost products.
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