According to a new report published by UnivDatos Markets Insights, the Online Toys and Games Retailing Market is expected to grow at a CAGR of around 7% from 2022-2028. The analysis has been segmented into Product (Activity and ride-on toys, Infant and pre-school toys, Plush toys, Games and puzzles, Others); Application (kids and adults); Region/Country.
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The Online Toys and Games Retailing market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Online Toys and Games Retailing market. The Online Toys and Games Retailing market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Online Toys and Games Retailing market at the global and regional levels.
Market Overview
The synchronization between mobile and traditional games is one of the major factors driving the growth of the online toys and games retailing market. Recently, tablets and smartphones have had a significant impact on children’s education and entertainment around the world. Television is still a favorite pastime for kids of all ages, but smartphones and tablets are quickly overtaking it as the preferred form of entertainment. Tablets and traditional toys and games are now more closely related. Many children use these gadgets to play online games and interact with other players. Even older games now come with new features and are included in mobile applications. Additional game-supporting features and animated shorts can be downloaded by players.
The Online Toys and Games Retailing Market is expected to grow at a steady rate of around 7% owing to the increasing disposable income of parents. In addition, the growing internet penetration across regions is also acting as a growth catalyst for the market. Around 75% of the population in Western Europe already accessing the internet daily and almost every manufacturer of toys has developed its own website.
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Some of the major players operating in the market include Aldi Stores Ltd., Alibaba Group Holding Ltd., Amazon.com Inc., Hamleys of London Ltd., Kidding Around NYC, Nordstrom Inc, Overstock.com Inc, The BFL Group, The Walt Disney Co., Walmart Inc.
COVID-19 Impact
The toy market across the globe faced many challenges with the COVID-19 pandemic, a changing retailing landscape, increased competition from video games, and declining birth rates in most of economies. In Europe, with an annual growth rate of two percent between 2013 and 2018, Western Europe saw slower growth within the toys industry compared to the global growth rate of four percent. Despite these challenges, the region still holds some untapped potential: with a per capita expenditure of USD 35 in 2019 in Western Europe, the region lags behind others such as North America which has a €61 per capita expenditure, and Australasia having a €36 per capita expenditure.
The Global Online Toys and Games Retailing Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on product, the market is segmented into Activity and ride-on toys, Infant and pre-school toys, Plush toys, Games and puzzles, and Others. The activity and ride-on segment grabbed a considerable market share in 2020. Ride-On is wheeled device that allow children to sit and move around. It has become an integral part of consumer products as they are an essential source of entertainment for children. Today's parents buy different ride-on toys for their children to run and move through their homes and streets. Ride-On toys are easy-to-use and keep young people busy while developing muscles with pedaling and steering. It also helps in a child's movement development. These toys grow thinking skills such as decision-making and coordination among children.
· On the basis of application, the market is categorized into kids and adults. Among these, the adult’s segment grabbed the major market share and dominated the market in 2020. The emergence of the ‘kidult’ section in the toys & games industry is contributing to the growing share of this segment. In the U.K., the adult and teen category now represents 27% of the total toy sales as of 2020, up by 16% since 2016, according to ToyNews Media. In 2020, with more time on their hands, kidults completed complex building set kits, played more games, and entertained themselves with puzzles.
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Online Toys and Games Retailing Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
APAC is anticipated to grow at a substantial CAGR during the forecast period. Asia Pacific region grabbed the major market share and dominated the market in 202.0. Continuous growth in population coupled with the surging per capita income of consumers is contributing to the growth of the market. According to the United Nations’ “World Population Prospects 2019,” Asia’s population will increase from 4,326 million to 4,654 million by 2030, except in Western Asia. Because of these considerations, Asia Pacific is a promising future market for toy and game manufacturers. However, the North America region is expected to witness the highest CAGR during the forecast period
The major players targeting the market include
· Aldi Stores Ltd.
· Alibaba Group Holding Ltd.
· Amazon.com Inc.
· Hamleys of London Ltd.
· Kidding Around NYC
· Nordstrom Inc
· Overstock.com Inc
· The BFL Group
· The Walt Disney Co.,
· Walmart Inc
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Online Toys and Games Retailing market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Online Toys and Games Retailing market?
• Which factors are influencing the Online Toys and Games Retailing market over the forecast period?
• What are the global challenges, threats, and risks in the Online Toys and Games Retailing market?
• Which factors are propelling and restraining the Online Toys and Games Retailing market?
• What are the demanding global regions of the Online Toys and Games Retailing market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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