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摘要

Executive summary

Toys industry sales recover

Chilean toys and games sales approached CH$ 140 billion in 2003 in current terms. At the end of the review period, sales showed signs of recovery, achieving growth rates comparable to those observed in the early and mid 1990s. General economic recovery was a primary factor underlying toys sales performance during 2003. Stronger competition at the retail level and the arrival of Chinese products also contributed to renewed dynamism.

Video games add value

Video games are gaining in popularity. They are expanding the toy industry’s frontiers and appeal to consumers of all ages. Competitive prices and availability of credit allow more families to acquire a console and some video games software. Meanwhile, an increasing penetration of computers contributes to fuel demand of PC games.

Industry concentrates and multinational companies prevail

Industry concentration has increased. In 2003, there were about 10 manufacturers including multinational players, and some 200 small importers competing within the industry. Branded products by Mattel and Hasbro account for some 60% of total Chilean traditional toy sales. These two companies lead not only in sales but also in innovation and product development. The remaining 40% of sales is from generic toys that are mostly imported from Asian countries. Meanwhile, international players dominate video games with Sony leading in consoles. Domestic manufacturers have a niche presence in traditional toys and are particularly prevalent in large or wooden products. Most Chilean toy manufacturers went out of business or were acquired when the multinationals arrived and retailers began playing a more active role in the industry.

Retail consolidation

In the early 1990s, the competitive environment was different with large format retailers having a secondary role in the distribution of Chilean toys and games. The review period witnessed retail consolidation. Department stores and hypermarkets rapidly appeared throughout the country increasing the level of competition in most product ranges as a result. Department stores and hypermarkets built competitive advantage through availability of credit, promotions and increasing bargaining power. This allowed them to create a more attractive purchasing environment for their customers. Their physical size also allows them to stock a wider selection of toys all year round.

Imported products

Video games are 100% imported and this applies to both software and hardware products. The share of imports in traditional toys and games, in comparison, varies among product ranges. On average, 80% of toys are imported, with most imports manufactured in Asia. Domestic production held a higher share in outdoor products that include swings, slides, ride-on vehicles, and large trucks/cars. Some industry initiatives have been undertaken in the activity/construction ranges that are successfully competing with imported toys. Toys and games exports are almost non-existent, but industry authorities are working together with small producers to make the products more attractive to an international audience.

Shorter lifecycle of brand products

Toys related to movie or television characters have a short life cycle, limited by the time period the movie or series is popular. The time frame is usually about three to four months. With the arrival of cable television, the number of cartoon and children’s programmes has grown increasing the choice of related toys available for sale.

目录及图表

Table of contents

1. INTRODUCTION

2. EXECUTIVE SUMMARY

Toys industry sales recover

Video games add value

Industry concentrates and multinational companies prevail

Retail consolidation

Imported products

Shorter lifecycle of brand products

3. TOYS AND GAMES

3.1 MARKET PERFORMANCE

Wider availability of toys and games all year round

Child’s Day contributes to increase size of Toys and Games

Marketing and Advertising boost year round sales

Economic recovery will help to sustain growth

Wider access to credit

Video games sales gain ground

Chile a test market for the rest of Latin America

Products forbidden, labelling normative

Table 1 Retail Sales of Toys and Games: Value 1998-2003

Table 2 Retail Sales of Toys and Games: % Value Growth 1998-2003

Table 3 Toys and Games Company Shares 2002-2003

4. TRADITIONAL TOYS AND GAMES

4.1 SECTOR PERFORMANCE

Branded versus Generic Toys

Traditional toys and games depend heavily on fads for success

Television programmes and movies influence demand

Leading players: Multinational companies drive the industry

Domestic players closed down

Niche strategy to survive

Large retailers impact the strategy of multinational operators and importers

Opportunity in an export strategy

Piracy remains a problem

Table 4 Retail Sales of Traditional Toys and Games: Value 1998-2003

Table 5 Retail Sales of Traditional Toys and Games: % Value Growth 1998-2003

Table 6 Traditional Toys and Games Company Shares 2002-2003

4.2 NEW PRODUCT DEVELOPMENTS

Preferences change quickly

Lider players reintroduce bestselling toys

Summary 1 Traditional Toys and Games New Product Developments 2002-2003

4.3 RETAIL DISTRIBUTION

Big formats drive competition

Convenience benefits other non-traditional retailers

Specialised stores decline, shopping malls are prevalent

Product strategy: buy locally or import

Table 7 Retail Sales of Traditional Toys and Games by Distribution Format: % Analysis 1998/2003

5. VIDEO GAMES

5.1 SECTOR PERFORMANCE

Competition mirrors international environment

Sony unbeatable

Video Games Hardware

Imported units also include some refurbished consoles, mainly PlayStation devices

Video Games Software

Importers play a key role especially in video games software

Credit facilities to increase product penetration

Competition arising from mobile telephony

Software piracy erodes sales

Table 8 Retail Sales of Video Games: Value 1998-2003

Table 9 Retail Sales of Video Games: % Value Growth 1998-2003

Table 10 Video Games Company Shares 2002-2003

5.2 NEW PRODUCT DEVELOPMENTS

2004 launches announced

Summary 2 Video Games New Product Developments 2002-2003

5.3 RETAIL DISTRIBUTION

Large retailers are increasing their share of distribution

Fragmented independent stores

Table 11 Retail Sales of Video Games by Distribution Format: % Analysis 1998/2003

6. FORECAST MARKET PERFORMANCE

Forecasted economic growth should promote toy sales

Product innovation sustains video games sales

Ongoing retail consolidation should also sustain future sales growth

Consolidation will benefits toys and games sales

Educational toys are poised for future growth

Online games

Private label opportunities

Secondary opportunity

Table 12 Forecast Retail Sales of Toys and Games: Value 2003-2008

Table 13 Forecast Retail Sales of Toys and Games: % Value Growth 2003-2008