How the rest of the world sees the future of toys, sustainability, population growth and more

I had to smile as I looked around the table. We had managed to bring together thought leaders from three continents to discuss the future of the toy industry.    There sat representatives from Russia, China, Germany, the United States, Italy, Belgium and Israel .I thought to myself; this is going to be a great discussion.

And it was. Our attendees had a lot to say about the future of the toy economy; the impact of declining child populations in some major markets; what toys will be like in the next few years; how retailing is going to fare over the next few years and our chances for the harmonization of safety standards. 

Each participant provided answers that reflected their national experiences. When seen as a whole, however, their responses showed a number of general trends. Here is just some of what they had to say:

• Traditional toys like construction and dolls will be around as long as there are children but participants also saw a rising use of technology to enhance play value and connect children all over the world. 
• Green is here to stay and that will have an impact on the materials and processes used in making toys.
• Attendees were pessimistic about the chances for safety harmonization, seeing politics as getting in the way of a global agreement that would make children safer while dramatically cutting costs for manufacturers.  
• They saw ecommerce as of rising importance in the selling of toys but saw it as lacking in the hands on experience shoppers desire. Accordingly they saw more and growing number of smart toy retailers allowing consumers to physically handle and even try out toys before they buy them. 
• Those in attendance felt that 2010 was going to be a good year for the toy industry, particularly in central Europe. A 5% increase in sales was possible there while the US was seen as having more modest gains.
• Participants were not concerned about declining birth rates vis-à-vis toy sales. They noted that when there were fewer children, parents and grandparents tended to spend more per child. Accordingly, they felt that the overall national expenditure would vary little.

I will provide more information in a future article.