Hong Kong toy makers are optimistic that the introduction of a two-child policy on the China mainland will help the toy market to strong growth this year.
Ahead of this year’s annual Hong Kong Toy and Games Fair, exhibitors and experts have expressed optimism at the health of the children’s and infants market, some of whom believe business could grow by up to 30 per cent.
In an interview with SCMP, Natalie Li Lan, senior sales manager from the Hong Kong-based toy manufacturer, Nicetoys, which makes toys for newborn to one year olds, said: “We expect to see sales increase by at least 30 per cent.”
Following the two child policy that came into effect in Hong Kong on January 1st this year, Nicetoys has revealed its own plans to branch business out to the territory by mid 2016.
It will mark its first time in the mainland marker since 1986.
Through the new mainland child policy, the population is expecting to see growth of around an additional 2.4 million babies each year.
The Trade Development Council predicts that around 75 billion yuan more will be spent on baby products as a result.
Italina pram brand, Inglesina believes that mainland Hong Kong parents will now be a major source for profits.
“The two-child policy is a new opportunity for us. Many people on the mainland have expectations of a European brand and are confident about products sold in Hong Kong,” said Heidi Hui Hiu-yin, frm Eugene Marketing, Inglesina’s Hong Kong promoter.