The Canton Fair Phase 3, held in April 2024, showcased the latest toys in the industry. While the toy section has experienced a gradual decline in recent years, this year was no exception, with only three halls dedicated to toys. However, amidst this trend, there were notable developments that caught the attention of buyers. In this blog post, we will delve into the buyer’s perspective at Canton Fair Phase 3 and explore the opportunities available for suppliers in the toy market.
A Strong Presence of Buyers:
Compared to the previous October Fair, this year’s Canton Fair Phase 3 witnessed a significant increase in buyer participation. Buyers were actively engaged in exploring the offerings, seeking potential partnerships, and negotiating deals. The heightened presence of buyers indicates a growing interest in the toy market, presenting new opportunities for suppliers.
Lower Pricing and MOQ:
One notable trend observed at the fair was the prevalence of lower pricing and Minimum Order Quantities (MOQs). Manufacturers, eager to secure business amidst the depreciation of the Renminbi and the lingering impact of the COVID-19 pandemic, were willing to offer competitive prices and flexible MOQs. This is especially favourable condition empowered buyers to negotiate better deals and explore cost-effective options.
Buyers that embraced flexible packaging styles, such as bulk packs or white-labelling products, found themselves at an advantage. These packaging options allowed buyers to purchase in lower quantities, catering to their specific requirements. Additionally, there has been an increase of stock option buys in many of the factories.
Optimism and Opportunities:
Despite the challenges faced by the toy industry, there was an air of optimism at Canton Fair Phase 3. The greater presence of buyers and the willingness of manufacturers to accommodate their needs signalled a positive outlook for both parties. Suppliers who adapt to market demands, offer attractive pricing, and embrace flexibility in their operations are likely to seize the numerous opportunities available.
Conclusion:
Canton Fair Phase 3 in April 2024 provided a platform for buyers and suppliers to explore the ever-evolving toy market. Despite the shrinking toy section, the fair showcased promising developments from a buyer’s perspective. With a strong buyer presence, lower pricing and MOQs, and opportunities for flexible packaging, bulk buying, white labelling, and stock items, suppliers have the chance to thrive in the toy industry.
By embracing market trends and adapting to changing demands, suppliers can unlock the potential for successful partnerships and growth in this dynamic sector.
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By The B.C.I. Team
