The online toys and games retailing market size has grown significantly in recent years, projected to increase from $16.59 billion in 2023 to $18.18 billion in 2024, at a compound annual growth rate (CAGR) of 9.6%. The historical growth can be attributed to a growing middle-class population worldwide, increasing viewership of children's TV and internet content, a trend towards online shopping, a shift towards e-commerce platforms, and a rising demand for multipurpose playthings. The market is anticipated to experience strong growth in the coming years, reaching $26.35 billion in 2028, with a CAGR of 9.7%. This anticipated growth is supported by rising demand for electronic games, the growing popularity of video games, increasing interest in interactive and educational toys, enhanced use of social media for promotions, and a surge in online gaming and esports. Key trends expected in the forecast period include product innovation, the development of educational toys, artificial intelligence companions, voice recognition in smart toys, and the adoption of augmented reality (AR) and virtual reality (VR) technologies.
Major Driver In The Online Toys And Games Retailing Market
The increasing consumer preference for online shopping and e-commerce is likely to drive growth in the online toy and game retail market. The growing preference for online shopping is due to the convenience of home shopping, a wider selection of products, and the ease of comparing prices across platforms. E-commerce enhances online toy and game retail by providing a user-friendly shopping experience, offering an extensive array of products, enabling price comparisons, and allowing retailers to reach a global audience. In May 2024, the United States Census Bureau reported that total e-commerce sales in the U.S. rose by 8.6% in the first quarter of 2024 compared to the same period in 2023. Thus, the rapid growth of e-commerce is driving the expansion of the online toy and game retail market, with further increases anticipated through 2024 and into 2028.
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Online Toys And Games Retailing Market Competitive Landscape
Major companies operating in the online toys and games retailing market are Kohl's Corporation, LEGO System A/S, Nordstrom Inc., Mattel Inc., GameStop Corporation, Hasbro Inc., Barnes & Noble Inc., TOMY Company Ltd. , Ravensburger AG, BFL Group, Oompa Toys, Simba Dickie Group GmbH, UncommonGoods LLC, Hamleys of London Ltd, Tru Kids Inc., Le Toy Van Limited, Babesta LLC, Kidding Around Toys, Mary Arnold Toys, Tin Toy Arcade LLC, Toycra, ToysPlanet LLC
Key Online Toys And Games Retailing Market Trend
Major companies in the online toy and game retail market are prioritizing the expansion of digital platforms, such as online e-commerce marketplaces, to enhance customer experience, boost sales, and extend market reach. An online e-commerce marketplace is a digital platform where multiple sellers can list and sell their products or services, allowing consumers to browse, compare, and purchase from a wide array of offerings in one location. For instance, in June 2024, Tesco PLC, a UK-based retail company, launched a new online marketplace enabling customers to shop thousands of third-party products alongside Tesco's grocery offerings on Tesco.com and the Tesco app. The initial launch features around 9,000 products across various categories, including DIY, garden, homeware, toys, and games. These third-party products are sold and fulfilled directly by Tesco's trusted partners, while Tesco's grocery orders continue to be fulfilled from local stores or fulfillment centers. Tesco ensures that these sellers meet stringent requirements and standards for delivery speed, returns, and customer satisfaction, continuously monitoring their performance.
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Global Online Toys And Games Retailing Market Segmentation
The online toys and games retailing market covered in this report is segmented –
1) By Type: Plush Toys, Infant Or Pre-School Toys, Activity And Ride-On Toys, Dolls, Games And Puzzles, Outdoor Seasonal Toys, Other Types
2) By Distribution Channel: E-Commerce Websites, Brand Stores, Marketplaces
3) By Application: School Age Children, Teens, Infants, Toddlers
By Geography:The regions covered in the online toys and games retailing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the online toys and games retailing market in 2023.
The Online Toys And Games Retailing Global Market Report 2024 furnishes information about the global online toys and games retailing market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
