The licensed toys market has been named among the top three categories to drive the global licensing industry to its 4.4 per cent growth this year.
The second largest category among the licensing stakes, toys has enjoyed revenue of £26.9bn this year. That’s a 13 per cent share of the categories making up the licensed sector.
The global licensing industry has seen its value increase 4.4 per cent on last year’s results, taking it to more than £200bn, according to the latest LIMA 2017 Annual Global Licensing Industry survey.
Clothing leads all product categories, accounting for £30.1bn in revenue, followed by toys at £26.9bn and fashion accessories at £22.7bn.
The same survey indicates however, that with the rise in online purchases, further pressure has been put on brick and mortar’s retail growth. Online sales now account for 21 per cent of all licensed retail sales worldwide, up from 18 per cent one year earlier.
In Western Europe, 19 per cent of licensed product sales came through online channels, while China had the highest online licensed product sales at 41 per cent.
On the other hand, in Japan and France, physical retail remains dominant, accounting for over 80 per cent of licensed goods sales in their markets respectively.