The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
Although the world’s child population has been declining, this will be a short-lived phenomenon. The trend towards smaller families in many markets ties in with other cultural and income shifts that actually stand the global toys and games market in good stead. As two key determinants of demand this briefing analyses demographic and income trends to understand their impact on toys and games sales in the future.
Heat Chart Source: Euromonitor International Countries and Consumers
The key findings and highlights of “Toys and Games: How Demographics and Income Shape Demand” global briefing include:
In absolute terms, Asia Pacific and Africa and Middle East have the largest 0-14 year-old populations. Conversely they also have relatively low spend per child.
In countries where the average number of children per household is above one, spending on traditional toys and games per child does not exceed US$50 in a given year.
Overall, the older the average age of women at childbirth the higher the spend on traditional toys and games per child. As modern mothers continue to work, for various reasons, the limits on parental time require products that can fill this gap.
Single parent households tend to be among the poorest, creating a need for cheaper products. Low-priced, high-volume toys tend to find success in markets where single parent households are more common.
Until such time that 60% of households attain an annual disposable income over US$15,000, video game console penetration remains below 15%.
Possession of video game consoles increases in line with the average annual disposable income of the richest 30% of the population.
In the wealthier markets of Western Europe, North America and Asia Pacific the over 65s group represents an expanding customer base for toys and games, creating opportunities for gift giving, as well as more hobbies for leisure