China's toy market grows by 7.8 percent last year

Chinese parents spent an average of 323.4 yuan (US$46) on toys for children aged 0-14 in 2019, up by 8 percent year on year, according to a report released in Shanghai on Thursday.

An industry report from the China Toy and Juvenile Products Association shows that China's toy market volume reached 75.97 billion yuan in 2019, up by 7.8 percent on year.

An increasing number of consumers also bought toys through online platforms. Online toy sales reached 24.8 billion yuan last year, accounting for about a third of total toy consumption across the nation.

According to the association's survey of over 13,000 consumers, more of them are planning to reduce their spending on toys and juvenile products in 2020.

Some 38 percent of respondents said they were willing to spend 100-199 yuan on a toy. Over 40 percent of consumers said they preferred strollers costing 400-599 yuan, child safety seats priced between 1,000 and 1,999 yuan and feeding products priced at 100 to 199 yuan.

Domestic consumers prioritize the educational value of toys. Some 36 percent of parents listed education as the top consideration when choosing toys for their children last year.

The report also noted a 24.2 percent surge in Chinese exports of traditional toys, showing strong demand from the international market.

Belt and Road countries have surpassed the US to become China's top toy export market. Toy export volume to B&R nations reached US$7.5 billion in 2019, a 34.4 percent increase on year, according to the report.

Amid the COVID-19 outbreak, the association has launched online trade negotiations and management training to help companies withstand the difficult market climate, the association said.