China fastest growing market for Toys“R”Us
May 8, 2017 Category Retail, Weekly
International toy retailer Toys“R”Us is expected to open at least 30 to 40 stores annually in China, mostly in major cities, while reaching more customers with its online stores. Roy Sammartino, Managing Director of Toys“R”Us China, said: “China is our fastest growing market with more store openings than anywhere else in the world.” Toys“R”Us had two online stores and 134 physical stores in 55 cities in China by the end of April. The retailer has 883 stores in the United States, Puerto Rico and Guam, 795 international stores, and 254 licensed stores in 37 countries and regions. Sammartino said due to the special nature of its business, where consumers want to touch the products, there has to be a mix of online and offline business to provide customers with the easiest way to shop. “Internet retailing continues to gain a strong share, as the pricing of products in online stores helps it capture sales from other channels,” according to Euromonitor International Senior Associate Carol Lu. “For toy and game firms, internet retailing is an important tool for marketing their products in regions where they have a limited presence,” said Lu. In China, the total toy and game market was worth CNY218 billion in 2016. Traditional toys and games accounted for around CNY70 billion, according to Euromonitor, the China Daily reports.
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