Everything that China does these days is big and fast so I guess it was no surprise that China has moved so rapidly from 6th to third in the ranking of the world’s biggest consumers of toys. According to the Research and Markets’ “Global and China Toy Industry Report, 2010-2011,” the top 5 toy markets now rank as follows:
- United States
According to the report, the Asian portion of toy sales rose 9.2% last year. This kind of growth means that it’s time for the world’s toy companies to turn their heads and look east for new markets. In doing so, however, there is going to have to be great care taken in fully understanding, not just the mechanics of these markets, but the cultural, aesthetic and language nuances that will ultimately make the difference between success and failure.
Are you currently selling your toys in Japan or China? If so, please let us know.