Hongkong's "toy kingdom" is challenged

In the past 70 years after the production of Hongkong first plastic toy duck, the toy industry in mainland Chinese predecessor Lin Liang factory now produces a variety of products, from Transformers to play. According to the British "Financial Times" website reported on May 13th, with Chinese mainland production costs gradually increased, technological progress and consumer tastes change caused by industry differentiation, 93 year old Lin Liang worried that Hongkong may lose the center position in the global toy industry for decades. He said: &ldquo, we have developed with our own hands and struggle today, and I think we still have some good opportunities for the next 5 to 10 years, but contract manufacturing is shrinking.
British media said, in the past 70 years after the production of Hongkong first plastic toy duck, the toy industry in mainland Chinese predecessor Lin Liang factory now produces a variety of products, from Transformers to play. According to the British "Financial Times" website reported on May 13th, with Chinese mainland production costs gradually increased, technological progress and consumer tastes change caused by industry differentiation, 93 year old Lin Liang worried that Hongkong may lose the center position in the global toy industry for decades. He said: &ldquo, we have developed with our own hands and struggle today, and I think we still have some good opportunities for the next 5 to 10 years, but contract manufacturing is shrinking. ”
In the 70s and 80s of the last century, children grew up with “ Hongkong made ” toy company; from star wars and special unit figures to Rubik's cube and water cannon.
Since the early 80s of the last century, toy production has shifted from Hongkong to Guangdong, where labor costs are much lower.
Although since 2011 sales have been growing at an annual rate of about 3%, but Lin Liang Yonghe Industrial Co. Ltd. and Francis Choi Sun Industrial Co. Ltd. Hongkong traditional toys manufacturers face continuous pressure.
In mainland China low-cost competitors coming at the same time, because in the past ten years there has been a series of product recalls and worker abuse scandal, the company's profit margins have been squeezed, consumers also require more stringent safety and labor standards.
The product life cycle is getting shorter and shorter, and it also puts pressure on toy manufacturers in Hongkong. About 1/3 of all toys in the United States are licensed products related to Hollywood movies, TV shows or computer games.
Although the star wars and Transformers and other old brand appeal lasted for decades, but frozen, angry birds and other relatively new toy life cycle is much shorter.
"&ldquo," says Tang Chengzheng, President of the Hongkong Toy Association. "Because there are so many choices, the popular licensed production license rarely last more than a few years.". Snow romance lasted for two years, but the spirit treasure can dream only three to six months, and did not promote sales of many products. ”
The growing popularity of smartphones and tablets is another major challenge for the toy industry, especially for target customers for children over the age of six. Children over the age of six spend more time on electronic products.
In view of this situation, some companies in Hongkong have introduced intelligent toys, such as simple laptops and smart watches devoted to early childhood education.
However, Lin Liang and other traditional manufacturers are still adhering to the traditional toy production. Lin Liang said, "&ldquo, there are hundreds of millions of children in China. They can't all play computer games.". &rdquo: he is launching a new plastic small yellow duck toy for the Chinese market.
But Tang Chengzheng believes that the Hongkong toy manufacturers, the only sustainable future is like the last century before 70s to dominate the global toy export of Japanese companies, enter the brand and marketing field, rather than just oem.
He said: "&ldquo, these Japanese companies now have a great influence on global culture.". In the future, we can not only for Lego, the United States and Taihe HASBRO oem. ”