About 2,800 exhibitors from around the world participated in the recent Hong Kong Toys and Games Fair hed at the city's Convention and Exhibition Centre. (Photo : www.the-exhibitor.com)
The Hong Kong Toys and Games Fair, considered as Asia’s largest toy fair, was held as Chinese toy manufacturers expect a sharp increase in sales for the toy industry in 2016, awaiting the effect of China's two-child policy, CRIENGLISH.com reported.
Franki Tse, China Market CEO of baby products manufacturer Goodbaby, said that the unfavorable economic situation will not prevent Chinese parents who are willing to purchase products for their kids.
"We have already seen there's a potential for sales growth. Although the economic situation in China was not strong last year, we see a lot of parents who want to have a second child in the coming years. We will see the effect of the new family planning policy taking hold by the second half of this year," Tse said.
According to Tse, his company is presenting a brand new twin baby stroller at the fair to meet the potential needs of parents who intend to have a second child.
Yeung Chi-kong, executive adviser of The Toys Manufacturers' Association of Hong Kong, also expressed confidence in the market.
"We expect to have about 2.4 million newborns extra to the 15 million annually. So by that, we've calculated, it would be approximately 5 percent growth, in other means, it would be around 75 billion RMB extra spending in the coming year," Yeung said.
4M Industrial Development, a Hong Kong-based educational toymaker, said it has augmented its products with reality technology, with the aim to make products for children who have siblings.
Wong Ying-kit, a designer at the company, said that children can learn simple science and concepts of protecting the environment from educational toys, as well as build up better relationships with their parents or siblings through their augmented reality technology game.
"The theory behind AR technology is to combine virtual reality and reality. There are lots of products using AR technology in the general market, but they are relatively rare in the toy market. Our company is launching toys with the new technology this year. We hope to attract customers from different ages," Wong said.
The report said that about 2,800 exhibitors from around the world are joining the fair to showcase both traditional and innovative toys, along with baby and mother-care products. The event has attracted buyers from 65 countries and regions.
The Hong Kong Toys and Games Fair was held until Thursday, Jan. 14, at the city's Convention and Exhibition Centre.
