Americas is the Largest Online #Toys and #Games Retailing Market, Says Technavio
LONDON - June 19, 2017 (Investorideas.com Newswire) The global online toys and games retailing market is expected to grow at a CAGR of around 7% during the forecast period, according to Technavio's latest report.
In this report, Technavio covers the market outlook and growth prospects of the global online toys and games retailing market for 2017-2021. The market is segmented on product, which includes online plush toys, online infant/pre-school toys, online activity and ride-on toys, online dolls, and online games and puzzles.
The growth in online retailing has allowed toys and games manufacturers to reach out to their audience and provide licenses easily to their franchisees. Online shopping is convenient for consumers as the online shopping portals can be accessed 24/7 by consumers from anywhere. These platforms also allow consumers to compare different brands. Thus, toys and games manufacturers are focusing on developing and maintaining elaborate websites where parents can purchase toys according to the age of their kids and the skills they want to be inculcated in them.
Technavio segments the global online toys and games retailing market into the following regions:
Americas: largest online toys and games retailing market
"The online toys and games retailing market in the Americas is expected to maintain a positive growth trend in the coming years, as there is an increasing number of consumers opting for online purchase of toys and games. Online shopping is more convenient and offers better deals compared with brick and mortar stores," says Sharan Jagannath, a lead analyst at Technavio for research on toys and baby products.
A key aspect contributing to the increase in the sales of online toys and games is the number of brick and mortar retailers opening websites of their own or partnering with online retail giants such as Amazon.com. The US, Brazil, and Canada are the major countries contributing to the growth of the online toys and games retailing market.
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Online toys and games retailing market in APAC
"Many e-commerce portals focus on the sales of baby products. Babyoye is one such portal that offers a collection of baby toys in India. Specialized online stores such as Yellow Giraffe listed their offerings based on age groups and the skills they aim to inculcate in children. In the urban cities of India, parents buy more of educational and entertainment toys and games for their kids," says Sharan.
Rapid economic development and increase in disposable income have been the key growth drivers of the market in developing countries such as India and China. E-commerce vendors like Flipkart and Snapdeal registered high sales of toys and games. Funskool, Mattel, and The LEGO Group are some of the leading toys and games vendors in the country.
Online toys and games retailing market in EMEA
The online sale of toys and games in Europe is booming owing to a growing number of customers opting for online shopping to purchase toys and games for their children. Internet sales showed double-digit growth rates and reached almost 20% in some mature markets. Southern Europe is less oriented toward online shopping of toys and games but is changing rapidly.
Online retailing of toys and games has also enabled several manufacturers to sell large volumes in a relatively less time. The countries that cater to the online toys and games retailing market include the UK, Germany, France, and Spain. Construction toys are the most famous toys among children in Europe. The demand for toys varies throughout Europe. In Italy, people mostly buy outdoor and sports toys.
The top vendors in the global online toys and games retailing market highlighted in the report are:
- Toys "R" us.com
- Walmart stores
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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