China Mainland parents spending big on toys for children
HONG KONG - A survey conducted by the Hong Kong Trade Development Council (HKTDC) shows that China mainland parents' now spend an average RMB2,596 yearly on toys, .with a frequency of purchase of 15.7 times in a year, suggesting that toys have become a consumer product bought on a regular basis.
The report shows that, although Mainland parents do not consider brand a major factor in their purchase decisions, they agree that toys of well-known brands come with more stringent quality control and better quality, the report says.
It adds that Hong Kong toy brands are well- recognised on the Mainland, and prove particularly popular among high-income families.
The survey found that parents spent on average RMB2,596 on toys for their children in the past year, up 143% when compared to the findings of a similar survey in 2014, and higher than the increase in monthly household income (78%) during the same period.
The most pondered average unit price and annual frequency of toy purchase were RMB744 and 15.7 times respectively, growing at a rate similar to the rise in monthly household income.
Meanwhile, the average unit price of toys bought (RMB199) registered an increase of only 49%, lower than growth in monthly household income.
On the other hand, the average unit price of the most expensive toy bought recorded the sharpest increase when compared to 2014, up 234% to RMB898. firstname.lastname@example.org