CBME China 2024

17-19 July 2024 | National Exhibition and Convention Center (NECC), Shanghai, China

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New Data from China Reflects Path to Retail Recovery, Consumer Toy Spend

By toybook

 

While much attention is being paid to the reopening of businesses in the U.S., newly released data out of China could offer an indicator as to how consumer preferences and spending could play out in the remainder of the year.

 

In a new report from The NPD Group on China’s road to retail recovery, “reopening doesn’t mean a rebound.” A Consumer Sentiment Study conducted in May shows plans for decreased spending across a variety of categories. However, just as certain categories of toys have seen a boom in the U.S. fueled by stay-at-home orders, the Chinese toy market has experienced big growth despite some planned changes in future spending.

 

In a post-pandemic market, 59% of respondents said that they plan to spend about the same on toys. 16% said they expect to spend more while 24% said they plan to spend less.

 

While it was games, puzzles, and outdoor toys that attracted families during quarantine in the U.S., e-commerce data from NPD shows a massive eight-fold increase in sales for preschool learning toys in China during the first two months of the year. The report notes consumer appreciation for messaging regarding good hygiene and the importance of cleaning and sanitizing. The LEGO Group, which has been rapidly expanding in China over the past few years, offered digital classes for kids to learn how to play with LEGO bricks alongside messaging about good habits of cleanliness.

 

About CBME

 

CBME is an established one-stop trade fair with nearly 20 years' experience of bringing together the movers and shakers in child, baby and maternity industry. Uniting top buyers, manufacturers, distributors, suppliers and sellers together under one roof in Shanghai, China annually. CBME hosts hundreds of quality industrial events, training events, private match making meetings. Awards and industry reports release all year around. As a gateway to key sourcing hubs for child, baby and maternity products and services, CBME now covers the most potential markets in the world and is regarded as a MUST-ATTEND show in the world where the key persons to share knowledge and create business opportunities.