Toy market in India is growing rapidly with the rising disposal income and the parents seeing the educational aspect to it. So who is benefiting out of this growth in the Indian toy market? Not a tough question to answer right. Its mostly the Chinese toy manufacturers and the top international players.
Indian toy manufacturers have to fight out with big international brands on the one hand and at the same time has to compete with low cost toys from the Chinese. International players and brands like Fisherprice, Lego, Barbie, Disney, Hotwheels, Chicco, Simba, Leapfrog are on the top of the mind for the parents as well as the kids.
Zapak from Reliance in board games, construction sets like Kinder Blocks, Mechanix from Peacock Toys and Zephyr Toys, educational aids and puzzles from Creative and Frank, Wodden educational toys and puzzles from Little Genius toys and Khazana toys(skillofun) , Play-n-Pets – soft toy from Hannung Toys are some of the well established Indian brands. Indian toy makers have to give more importance to brand building and innovate new products to compete with the top International toy brands and grow faster.
The increasing e-tailing trend and the growth of kids e-commerce stores like firstcry, babyoye, hushbabies, hoopos also provide better opportunities for the Indian toy brands to get equal shelf space and fight with the top International brands. Its time for the Indian toy makers to step up and build great brands with a strong value proposition and benefit out of this toy story.