Kids indoor toys contain a range of products like board games, building and construction toys, dolls, puzzles, toy cars, soft toys, playing cards, action figures, ride-ons, etc. These toys can be classified by age groups, namely infants, toddlers, pre-schoolers, grade-schoolers and teenagers.
Recent developments in the kids indoor toys market have largely concentrated on the toddlers to grade-schoolers segments. Several products are meant to cater to specific age groups. Soft toys and smart toys that promote cognition are targeted at infants and toddlers; toy cars, dolls, action figures and ride-ons target pre-schoolers; while board games, cards and puzzles target older age groups.
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The kids indoor toys market is a highly fragmented market and sees the participation of various global and local players across the various regional and type-based segments. The market also consists of a large unorganised sector which has proved difficult to regulate and eats a substantial pie of the market share.
While local players hold the edge in cheap access to raw materials and lower labour costs, global manufacturers benefit from their brand image. As a result, effective marketing strategies are a key for major global manufacturers. Manufacturers have leveraged the penetration of mass media among children, especially films and television, for this purpose.
For example, LEGO entered into a partnership with Universal Studios in 2018 and had launched the LEGO Batman and LEGO Ninjago movies in 2017. Similarly, Hasbro has capitalised from the Transformers movies franchise and G.I. Joe movies, while Mattel’s Barbie product line has been popularised trough 37 films since the Barbie movies franchise began in 2001.
Other forms of endorsements and sponsorships too help kids indoor toys manufacturers market their brand. For example, Mattel has partnered with drivers, racing car companies and motorsports associations to popularise its Hot Wheels line of products.
The primary target audience for the market largely remains children since their persuasion power takes precedence over their parents’ purchasing power. At the same time, certain indoor toy products for kids, like Hasbro’s Monopoly, find an audience among adults as well.
Some of the key players in the market include The LEGO Group, Hasbro, JAKKS Pacific, Toy Quest, Melissa & Doug, Toys “R” Us, MindWare, Mattel, K’NEX Industries, Simba Dickie Group, GoldLok Toys, Spin Master, Namco Bandai, KnuckleStrutz, Fat Brain Holdings, PlayMonster, Schylling, Integrity Toys, Smartivity, Sanrio Company, Nanoblock, Parent, Ravensburger, Dream International, Konami Corporation, TOMY Company, Smart Kids Toys, Vivid Imaginations, Learning Resources, MGA Entertainment, Safari, Playmates Toys, Engino.net, BanBao, GigoToys, Polydron, VTech Electronics North America, Tegu, Magformers, ExportersIndia.Com and Leapfrog Entertainment.
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