More than 80% of companies conduct cross-border business! Many powerful competitors have joined this track

Recently, Shopee conducted a survey on the Japanese Toys & Hobbies category. The data showed that 81% of respondents said their company had conducted cross-border e-commerce business , while 14.5% said they had not.

Regarding the advantages of cross-border e-commerce, 68.5% of Japanese companies believe that Japanese culture and products can be spread to more countries ; 53.9% believe that the cross-border e-commerce market has great potential ; 52.8% believe that the economy will grow further in the future; and 43.8% believe that toys and hobby products have a wide audience in Southeast Asia .

Regarding the regions where cross-border business is implemented, 59.6% of the respondents said that they have already launched e-commerce business in Malaysia, followed by Singapore ( 58.4%) , while the markets most desired to launch e-commerce business are Singapore ( 54.5%) and Indonesia ( 45.5%).

The survey shows that many factors are affecting the sales of Japanese toys and hobby products in their country . In order to seek more markets and stimulate sales and revenue growth, Japanese toy companies have started cross-border e-commerce business . The factors affecting domestic performance are: whether there are hot products ( 80% ), consumers are reluctant to go out, demand is fading ( 52.7% ), and the seasonality of products is highly dependent on related activities ( 46.4% ) .

As we all know, the toy market has always been full of dividends. According to the NPD report , global toy market sales reached US$104.2 billion in 2021 , an increase of 8.5% over 2020 and 12.7% over 2019, making it the best performing year in the past 10 years . The growth of this market is mainly driven by developed countries, with the United States having the greatest impact, with a year-on-year increase of 15%.

In 2021, the U.S. toy industry's retail sales were $28.6 billion, up 13% from $25.4 billion in 2020. From January to April 2022, sales in the U.S. toy market reached $6.3 billion, with per capita spending of $11.17, up 7% from the same period last year .

Global toy industry analyst Frédérique Tutt said that the global toy market set a new record for growth in 2021 , but this level of growth is not expected to continue as the global economy slows and inflationary pressures increase.

China has always been the world's largest toy manufacturer and exporter, with about 75% of the world's toys coming from China . In 2022, China's toy exports reached US$31.342 billion, a year-on-year increase of 21.99% .

The Shopee survey pointed out that more than 80% of Japanese toy companies will engage in cross-border e-commerce business, which will undoubtedly add many strong competitors to cross-border sellers in the toy category.

Coincidentally, recently, Indian Prime Minister Narendra Modi also set his sights on the global toy market, saying that India has the ability to become the world's toy center. This statement is not only urging the Indian people to vigorously develop the toy industry, but also a veiled declaration of war on the market position of Chinese toys .

The popularity of the toy category is obvious to all , and competitors are flocking in. If sellers of related products want to stand out in this market, they need to have insight into trends, conduct research, and be creative in product selection.

Japan

Toy