In recent years, the development of the red-hot tide play, whether creative design or elements of expression, have stirred up the “culture +” boom, but also become a new consumer favorite. Chiu Chow market is rapidly emerging in China and even globally, and the market scale continues to expand. According to the interviewed industry insiders, the current industrial chain of the trendy toy industry is mainly divided into three main links: upstream IP design and operation, midstream production and manufacturing, and downstream sales terminals. Its consumer groups are mainly focused on young people, especially “Generation Z”, because they have a strong sense of personalization and innovation, and their consumption behavior is diversified, not only focusing on product design and creativity, but also pursuing the scarcity and collection value of products. With the increasingly fierce competition in the trendy toys market, many brands have entered the market, and trendy toys going overseas has also become an important trend, with national trendy IPs increasingly fanning overseas consumers.
“China has always been a major toy manufacturing country, producing about 70% of the world's toys, with a complete toy industry chain, especially in the OEM production, manufacturing undertakings with strong strength.” (hereinafter referred to as “Xingtai Quantum Energy”) general manager Wang Ruihua introduced in an interview with China Trade News.
Recently, the 20th Cultural Fair was held in Shenzhen. During the exhibition, the reporter saw that Dongguan's cultural and creative industry promotion attracted crowds of people in the Guangdong, Hong Kong and Macao Greater Bay Area Cultural Industry Innovation Exhibition and Trade Negotiation Area. Dongguan is the first city in China to be recognized as “China's Chaojiao Capital”, and the city's pavilion at the fair focused on Dongguan's gifts, Chaojiao industry, trendy art and other development results.
The small “tide play” is being raised into a large industry. Industry insiders said that although China's tide play industry started late, but compared with other countries, China's tide play industry in the market scale, industry chain development, cultural heritage have significant advantages. In the past two years, with the continuous development of the concept of domestic “tide play”, to create a tide play with Chinese cultural elements of the IP has become the mainstream of the market.
Wang Ruihua told reporters that the domestic development in recent years in full swing cross-border e-commerce and live broadcasting industry has also added impetus to the expansion of the tide play market. According to him, Xingtai Quantum Energy mainly adopts a combination of online and offline approach to develop the international market in an omni-channel way, and has accumulated a total of about 80,000 customers of various types, such as wholesalers and end-consumers. In addition, his team also explores offline marketing channels through professional exhibitions, offline market promotion and overseas warehouse cooperation to realize multi-channel customer reach.
As a matter of fact, in the field of trendy games, China's creativity and culture are ushering in an unprecedented wave of going overseas. Chinese brands are attracting the attention of foreign audiences with their unique creativity, design style and cultural heritage, and gradually leading the world's aesthetic trend. Supply chain advantages and consumption potential advantages are the cornerstones of the rapid rise of China's trendy toy market. Take the head enterprise Bubble Mart as an example, according to the enterprise disclosed in the first quarter of this year's financial report, Bubble Mart revenue increased by 40% to 45% year-on-year, of which 20% to 25% year-on-year growth in mainland China, Hong Kong, Macao, Taiwan and overseas growth of 245% to 250% year-on-year. Overseas markets are becoming a new growth engine for Bubble Mart.
According to the Creative Economy Outlook Report 2022 released by UNCTAD, cultural and creative industries have made great contributions to the global economy, in which Bubble Mart, as part of the cultural and creative industries, is playing an increasingly important role in the global economy. It is also worth noting that China's tide play industry is also in a critical period of technological development, with the application of emerging technologies such as digital technology and virtual reality injecting new vitality into the industry.
