Stroller Market Research Report

#Report# Introduction There is a direct relationship between family income and the amount of money spent on baby toys, the higher the family income, the higher the amount parents spend on toys for their children. The following is Organized Stroller Market Research Report, welcome to read!

Part I stroller market research report

Industry Status

Stroller, from the manufacturing industry points, our government will be categorized in the toy industry. China's stroller and toy development trajectory is the same: the beginning of the reform and opening up from the undertaking of Taiwan-funded, Hong Kong-funded enterprises to transfer, to do OEM began to start in the last decade with the rapid development of the domestic market, the stroller industry has entered a period of great development, this trend is particularly obvious after 2008.

Product diversification industry clustering. Strollers in a broad sense, including baby strollers, walkers, pedal cars, twisted cars, electric strollers, children's bicycles, etc., very diverse. At present, there are several industrial clusters in the country, with products of their own characteristics, such as Kunshan and Taicang in Jiangsu, Pinghu and Ningbo in Zhejiang, Pingxiang in Hebei, Shucheng in Anhui, Hanchuan in Hubei, Tengzhou in Shandong, and Zhongshan, Dongguan and Foshan in Guangdong. The Pearl River Delta, Yangtze River Delta and other coastal areas of the stroller industry clusters developed early, the introduction of technology has the advantage of becoming the industry leader; but in terms of development speed, in recent years, the mainland stroller industry clusters develop more quickly. For example, Pingxiang, Hebei Province, the local government is very supportive of the industry, outstanding performance.

Export market slowdown

During the visit, enterprises generally reflected that business is difficult to do, export pressure. The most important reason for this is the decline in demand in overseas markets. According to the United Nations Population Fund issued the "State of World Population Report 2014" data, the current global population of children and young people under the age of 18 years *** there are 1.8 billion people, accounting for a quarter of the world's total population, but the vast majority of them are concentrated in developing countries. Europe, the United States, Japan and other developed countries and regions, population aging, low fertility rates, and the phenomenon of childlessness continues.

With the above situation is echoed by the U.S. Toy Association released a report, the data show that in 2014 the U.S. stroller (excluding baby strollers) sales of 1.25 billion U.S. dollars, compared with the same period in 2013, basically flat, in 2010, this data is 1.61 billion U.S. dollars. In other words, the U.S. stroller market has been stagnant and shrinking for several years. The EU stroller market is comparable in volume to the U.S., and the situation is similar. In addition, Brazil, India and other populous emerging markets, the economic downturn in the past two years, the demand is not vibrant; Russia, the Middle East by the impact of political factors, economic weakness and war, have affected the stroller exports.

Analysis of the domestic market

Analysis 1 in the research, manufacturers reflect this year's domestic business is not doing well, in addition to coastal areas, the Midwest, north of the Yangtze River, the local sales of strollers are not very satisfactory, some companies have adjusted downward the amount of production to reduce the pressure on inventory.

Analysis of 2 research found that the domestic sale of strollers has a prominent problem, namely, the serious homogenization of products, low-priced vicious competition, profit dilution. Some companies do not do market research, do not go to innovation, rely on simple fetishism, a low price competition, there is no way out.

Analyze 3 nearly a decade in the stroller domestic market has been a great development of the supporting surface. I think this is mainly due to three reasons: First, the changes in the consumer target group. "80" "90" parents came on the scene and became the main consumer of strollers. Second, economic development, people's concepts change. Strollers in general towns and cities have changed from luxury goods to family necessities, and even the consumption of strollers in rural areas has made great progress. Third, the e-commerce platform and other more convenient sales channels mature and grow, play a big role.

Analysis 4 in the promotion of domestic sales of strollers in the case of large-scale development of the supporting surface has not changed, I think the difficulties are temporary, is the national economic pullback of the relevant response. I believe that with the recent full liberalization of the national two-child policy, the future of the stroller domestic market will have more opportunities for development, the market outlook is positive.

Guangdong Sui Hua Toys Co., Ltd. baby walker production line

Thinking about 1 how can we break the deadlock, seize the opportunity to develop? Here I throw a few hints, a few points: First, the domestic consumption of strollers is polarized development, on the one hand, the low-end, popular product demand; on the other hand, high-end consumer power is not small. On Taobao, "baby stroller" sales of the top ten prices or more than 100 yuan, or about 500 yuan, stratification is obvious, single product monthly sales are more than a thousand. Enterprises should be based on their own actual situation, adjust accordingly, find the positioning, more development of cost-effective products.

Thinking about the second is independent innovation. How to innovate? The most fundamental is to develop products around the changing needs of consumers. Now young parents on the requirements of the stroller, more attention to safety, convenience, comfort, fashion, the pursuit of personalization. As long as you can develop a unique and creative new products, not only can create considerable profits, sales are not worried. Specific practices or more to analyze consumer psychology, from which to find the direction of product development.

Thinking 3 has entered the information society, enterprises must establish Internet thinking, pay attention to the construction of e-commerce channels. According to the German GfK (JFK market consulting company) survey shows that in 2014, the Chinese market, consumers through the network channel to buy baby stroller accounted for 35%, has exceeded the supermarket / hypermarket (25%) and department stores (21%) channel. According to the 2014 annual report of Goodbaby Group, a leading company in the stroller industry, its business revenue in the China market amounted to HK$1.47 billion last year, of which the e-commerce channel developed particularly rapidly, with revenue increasing by 52.5% to approximately HK$410 million, accounting for 28% of the total revenue in the China market. We further broke down within the e-commerce channel and found that mobile terminals, i.e., cell phone shopping, are the fastest growing, and how to capitalize on it and build a corporate fan ecosystem is a big topic worthy of in-depth study.

Thinking 4 In addition, at present, professional exhibitions are still the most direct and effective means for enterprises to contact customers and expand sales. In a less optimistic economic environment, enterprises should go out more, contact customers, grasp the market demand trends, and promote products. The Cologne Baby and Children's Fair, Hong Kong Baby Products Fair, Guangzhou Stroller Show and Shanghai Stroller Show in March are all reputable quality exhibitions in the industry, with more buyers coming to the show and good exhibition results, enterprises can seek breakthroughs through these platforms.

Part II Stroller Market Research Report

Types of toys for babies

Parents in the Mainland want their children to win at the starting line, so regardless of the age of their children, parents most often buy toys that have an educational value and help children learn (90%), such as exercising hand-eye coordination, learning to recognize words, training logic and reasoning, and so on. Pinyin, logical reasoning, etc. This was followed by dolls (81%) and skateboards/tricycles (44%).

In addition to bringing joy to children, toys also have an enlightening effect on children's mental growth, so parents will buy different types of toys to stimulate their children's mental development.

Of course, toys should be tailored to the child's ability and needs. If you look at the age of the children, 95% of parents of 4-6 year olds purchased educational toys, compared to 85% of parents of 1 year olds or younger. Parents of children under 1 year old purchased a significantly higher proportion of auditory training hand cranks/hand bells (87%) than any other age group.

Concept of price they are willing to pay

Even for the same product, the concept of price varies among consumers from different cities and incomes. To further explore Mainland parents' conception of the price of toys for babies and children, the questionnaire asked, "What is the price you are willing to pay for a children's tricycle?" The survey showed that the overall price respondents were willing to pay was RMB 327. Among them, Suzhou respondents were willing to pay 341 yuan, which was the most among the surveyed cities. And Changsha respondents are willing to pay 305 yuan, the lowest among the cities surveyed.

When differentiated by monthly household income, the higher the monthly household income, the higher the price respondents were willing to pay for a child tricycle. Respondents with a monthly household income of more than $30,000 were willing to pay a significantly higher price ($343) than those with a monthly household income of less than $15,000 ($299). As for the other groups, the difference in the price respondents were willing to pay was not significant.

Key Considerations for Purchasing

When purchasing toys for babies and children, overall parents have 3 key considerations: "no harmful chemicals" (57%), "safe" (48%), and "can be assembled/complemented with other toys" (48%). Compared to the overall respondents, Shanghai respondents were significantly more likely to emphasize the factors of "no harmful chemicals" (70%), "safety" (59%), "brand image/reputation" (51%), and "quality" (45%). As for respondents in other cities, there is little difference in their considerations when shopping for toys.

Compared to similar surveys in 2013, the top considerations for overall respondents when purchasing toys are also "no harmful chemicals" and "safety". It seems that these two factors continue to be the key factors influencing parents' choice of toys in Mainland China. In terms of the number of children in the family, parents of 2 children were more concerned about "educational value/helps learning" (52%) and "origin of the product" (28%) than parents of 1 child, while parents of 1 child were more concerned about "safety" (49%) and "brand image/reputation" (40%) than parents of 2 children. This is probably because parents of 1 child do not have experience in parenting, so they rely more on brand recognition and reputation when choosing toys. "Department stores" and "hypermarkets" are the main purchasing channels.

Over the past year, overall respondents most frequently visited department stores (48%) and hypermarkets (48%) to buy baby toys. In Qingdao, a significantly higher percentage of respondents went to hypermarkets (58%) than department stores (49%). Among all channels, respondents in Chengdu most frequently bought toys from chain stores (45%). According to a Sichuan-based baby product distributor, when a new baby brand is expanding into the second- and third-tier markets in the Mainland, partnering with a specialty store through a local distributor can help build a professional image for the brand. This is because the mom-and-pop stores are more influential in the township market and have control over the local sales channels.

The agent also said that when the brand is expanding into the first-tier market in the mainland, it would be more appropriate to set up counters in department stores. This is because department stores have a higher-end consumer base and a certain amount of foot traffic, which can quickly allow consumers to recognize the brand. The survey also showed that respondents in Beijing (47%), Shanghai (49%), and Guangzhou (51%) most often visited department stores to buy baby toys.

Across cities, Shanghai has a significantly higher proportion of respondents buying toys online than the other cities. In the past year, 35% of Shanghai respondents have purchased baby toys through websites or apps of domestic mom-and-pop/shopping malls, which is higher than the overall respondents (24%). Meanwhile, the proportion of Shanghai respondents who purchased baby toys directly through overseas websites (14%) was also significantly higher than the overall respondents (5%).

When differentiated by the number of children in the household, a higher proportion of parents of 2 children purchased toys at hypermarkets (51%) than at specialty chain stores (44%) and department stores (43%). Hypermarkets sell a wide range of products, such as food, household goods, clothing, stationery and toys, making it convenient for parents to do one-stop shopping. Coupled with the fact that 2-child parents may be busier than 1-child parents in taking care of their children, they prefer to buy toys from hypermarkets.

The higher the household income of the respondents, the higher the proportion of toys purchased from department stores. According to the survey, 52% of respondents with a monthly household income of more than $30,000 said they would buy baby toys from department stores, which is significantly higher than the proportion of respondents with a monthly household income of less than $15,000 (40%). In terms of the number of children in the household, 18% of parents of 2 children entrusted their friends to buy baby toys from overseas, which is significantly higher than the percentage of parents of 1 child (7%).

Online and offline promotion and shopping chain

Physical stores are the main channel for Mainland parents to purchase baby toys, as well as the main channel for them to get information about baby toys (60%). Among them, Wuhan respondents (70%) obtained information about baby toys from brick-and-mortar stores, which was significantly higher than other cities. Other information channels include online mother and baby forums (45%) and WeChat (39%), both of which are online channels. Among them, Shanghai respondents got significantly more information from online mother and baby forums (60%) than other cities.

Mobile apps and social media have grown rapidly on the mainland in recent years, with companies pushing brand and product information to consumers through social media in addition to selling through apps. According to a mainland state-owned enterprise, after the opening of mobile apps and WeChat malls, can through enterprise resource planning (ERP) and the integration of various technologies, customers, products, marketing, transactions and other information into data, but also to track customer preferences and purchasing power. From the analysis of these big data, companies can more accurately provide customers with personalized product promotion, such as through WeChat to maternal and child products customers to push the relevant products of the e-coupon. With promotions and discounts, online and brick-and-mortar stores can drive each other's sales, creating a circular online and offline promotional and shopping chain.

If we look at the age of the child, parents with children aged 1 year or younger (40%) are more likely to rely on recommendations from friends and family for information about baby toys than parents of other child age groups. It is believed that parents of children aged 1 year or younger are more likely to rely on the experiences of other friends and relatives when they first become parents.

When categorized by monthly household income, the higher the household income, the higher the proportion of parents who obtained information about toys from "TV/radio/radio ads". For example, only 27% of respondents with a household income of less than $15,000 said they get information about toys from "TV/radio/broadcast advertisements," compared to 38% of respondents with a household income of more than $30,000. In addition, a higher proportion of respondents with a monthly household income of $15,000 - $30,000 obtained information on toys from "salesperson's recommendation" (36%) than those with a monthly household income of less than $15,000 (29%).

Willingness to consider purchasing new baby toy brands

Regarding the evaluation of baby toys in the current Mainland market, respondents of the symposium said that although the price of international imported toy brands is high, the quality is guaranteed, and parents can rest assured that their children can play with them alone. On the other hand, some parents think that mainland brands of toys have rough workmanship and varying quality, and they worry that the toy accessories may easily come loose and be swallowed by the children by mistake. Some parents interviewed also said that international toy companies have branch factories in the Mainland or cooperate with Mainland manufacturers to produce, so they have some confidence in the toys produced in the Mainland, but they will prefer the Mainland brands with high reputation.

Some parents interviewed said that popular toys in the Mainland are often derived from Mainland animation cartoons, such as four-wheel drive cars and gyros. As the trend of toys from anime is short-lived and easily replaced by other toys, some parents said they do not mind buying imitation anime toys as long as their children like them.

The questionnaire survey asked, "Assuming a brand new baby toy brand is launched in the Mainland, would you consider buying it?" Among the overall respondents, 85% said they would consider buying it, indicating that Mainland parents are generally not resistant to new brands of baby toys. Among the cities surveyed, the percentage of respondents in Shanghai (93%) who said they might consider buying it was the lowest in Changsha (80%).

It is worth noting that the percentage of 2-child parents willing to consider buying new baby toy brands (79%) is significantly lower than that of 1-child parents. This may be due to the fact that parents of 2-children already have a certain knowledge and preference of brands of baby toys, so the proportion of parents willing to consider buying new brands of baby toys is lower. In addition, the higher the household income, the higher the proportion of parents willing to consider buying new brands of baby toys. For respondents with a monthly household income of less than $15,000, 81% said they would be willing to consider purchasing a new brand of baby toys, while 89% of respondents with a monthly household income of more than $30,000 said they would be willing to consider purchasing a new brand.

Summary

Mainland parents want to stimulate their children's minds and cultivate curiosity through different types of toys, so they often buy educational toys for their children. In recent years, the toy market has been driven by Mainland animation cartoons, and toys derived from animation are very popular among children. Hong Kong companies interested in expanding into the mainland toy market can consider working with mainland animation film producers in the form of licensing agents to launch related toy products for the characters of animation cartoons.

According to the survey, "no harmful chemicals" and "safety" are the key considerations for parents when purchasing toys. Hong Kong companies can apply for relevant international safety certifications to strengthen Mainland parents' confidence in toy products. This is especially important for toys for children aged 3 or below, as children may put the toys into their mouths. If the toys are made with hazardous substances or pigments, or if the fittings are easily loosened, the children's health will be affected.

Part III Strollers Market Research Report

The market size of the Strollers industry in 2020 is based on a large amount of first-hand research and data monitoring covering major industries (including the production of the target product or industry in a specified period of time, production value, etc., based on the number of the population, people's needs, age distribution, the richness and poorness of the area

Market size is not just the sales volume of stroller products in a certain range, but also covers the size of users or sales volume. We estimate the size of the existing market based on the concentration of the market in terms of regions, development stage, and number of users; secondly, we estimate the future market size based on potential users and development trend of the market for strollers. Finally, the overall market size of the Strollers market can be known.

In the estimation of the market size of the stroller market, we mainly adopt the following methods:

First, the source projection method

That is, the market size of the industry is traced back to the source industry that spawned the industry, and through the interpretation of the data of the source industry, the data of the stroller industry are deduced.

Second, the strong correlation data projection method

The so-called strong correlation, can be understood as the sales of products in two industries have a strong relationship, through the analysis of the strong correlation with the stroller industry industry, to confirm the accuracy of the market size data.

Third, the demand projection method

That is, according to the needs of the target customers of the stroller products to measure the size of the target market.

Fourth, sampling analysis method

That is, in the overall through the sampling method to take a certain sample, and then according to the sample situation to infer the overall situation. Sampling methods include: random sampling, stratified sampling, overall sampling, systematic sampling and snowball sampling.

V. Typical inverse method

Based on the research team for a single brand (especially the leading brand) sales and market share of the study, inverse the size of the industry.