NEWS CENTER

Industry Information

Company News

Hong Kong's export index fell 9.7 points month on month in the third quarter

Hong Kong's export index fell 9.7 points month on month in the third quarter

Hong Kong, September 14 (Xinhua News Agency) - The Hong Kong Trade Development Council announced on the 14th that due to the impact of the global epidemic, Hong Kong's export index in the third quarter of 2021 has softened after five consecutive quarters of growth, falling 9.7 points month on month to 39. However, some Hong Kong businesses have stated that their export business has actually increased due to the pandemic, especially in the electronics and toys sectors. On the 14th, Research Director of the Hong Kong Trade and Development Council, Guan Jiaming, stated at a press conference that the repeated pandemic and soaring freight rates have weakened Hong Kong merchants' export confidence in the short term. Only about 20% of surveyed Hong Kong merchants expect sales to increase during the traditional Christmas consumption peak season this year. He said that the continued pandemic and weak global demand remain key factors affecting Hong Kong's export performance in the next six months. According to a survey by the Hong Kong Trade and Development Bureau, in addition to the epidemic, reducing or canceling orders by buyers, obstructing logistics and delivery, and increasing transportation costs are common problems faced by Hong Kong merchants. However, the demand for products such as electronics and toys has increased during the epidemic, leading to an increase in the export business of some interviewed Hong Kong merchants. Guan Jiaming said that many Hong Kong businesses are accelerating their digital transformation under the epidemic, including investing resources to expand online sales channels, conducting digital marketing, making good use of cloud management systems, and electronic payments. Faced with various challenges, Hong Kong businessmen generally adopt new business strategies, including expanding the mainland market, expanding online sales, and developing new product categories. In terms of export markets, merchants have more confidence in mainland China and Japan. The Hong Kong Trade and Development Council stated that although the pandemic has hit the global economy hard, it has accelerated the development of smart healthcare. In recent years, many medical products and services have introduced new technologies. Hong Kong is a hub for medical innovation and research and a fundraising center for biotechnology enterprises, and has maintained close ties with the mainland medical market, bringing new opportunities to the healthcare industry in different fields. The Hong Kong Trade and Development Council conducts a quarterly survey of 500 exporters from six major industries in Hong Kong, including machinery, electronics, jewelry, watches, toys, and clothing, to understand their views on the recent export prospects. The high or low index represents a bullish or bearish market situation, with 50 as the dividing line between prosperity and decline.

24

2022

/

10

Transportation costs have skyrocketed by 650%! American toy manufacturers keep their products in China~

Transportation costs have skyrocketed by 650%! American toy manufacturers keep their products in China~

The twists and turns of a toy's journey from China to the United States Taking essential holiday goods such as plush toys as an example: What difficulties may consumers face if they want to transport them from Ankang, Shaanxi, China to the East Coast of the United States The cost of toys has increased; ② Waiting for the empty container to depart; ③ After arriving at the port of Los Angeles, California, USA, continue to wait; ④ The epidemic has led to a shortage of workers and a significant reduction in transportation capacity. Overall, compared to pre pandemic levels, the total transportation cost of a plush toy has increased by 650% from production to reaching consumers. All logistics bottlenecks ultimately mean that consumers may need to pay higher prices, and in the aforementioned logistics process, every detail problem is difficult to solve in the short term. Jeremy Siegel, a professor at the Wharton School of Business in the United States, warns that the inflation problem in the United States will be much hotter than the Federal Reserve had expected. The tight supply of goods will inevitably lead to an increase in prices According to foreign media reports, the Los Angeles port is filled with cargo ships waiting to be unloaded, and toy manufacturers cannot laugh at the holiday shopping season at the end of this year. Isaac Larian, CEO of global toy giant MGA Entertainment, stated that port congestion has been a common phenomenon along the California coast of the United States since at least May. He looked at the ships at sea every day and thought of toys that had not yet arrived. Delayed unloading may endanger parents' ability to purchase toys in a timely manner, pack them, and hide them under the Christmas tree. If they cannot be purchased in a timely manner, these toys may not be available until the end of winter and will be cleared for auction. As a manufacturer of LOL Surprise, Rainbow High, and Little Tickes, MGA currently has sufficient inventory to meet 65% of outstanding orders. But Larian said that originally expected sales to grow by 50% this year, but now it is expected to only grow by 18% to 20%. Many toy manufacturers are working hard to cope with the huge bottleneck in global transportation channels caused by the pandemic, which has worsened due to the blockage of the Suez Canal in March. Larry said that containers that used to cost only $3200 are now priced at over $20000. And even if the container is unloaded, there are not enough truck drivers to transport these goods.

24

2022

/

10

Toys are not suitable for babies, no matter how good they are, it's meaningless

Toys are not suitable for babies, no matter how good they are, it's meaningless

Looking at the child's room, there are already so many toys, and how to handle the child's demands - accompanied by advertising and peer pressure - is quite tricky at this time. But the most beautiful toy may not necessarily be the best - it will stimulate children's imagination more. So how to choose good toys for children? Let's take a look below.

24

2022

/

10

How to choose educational toys for babies?

How to choose educational toys for babies?

Generally speaking, educational toys can be divided into adult and children's categories. We mainly choose children's early education for babies. Early education and enlightenment are also aimed at babies aged 0-3.

24

2022

/

10

What are the issues to pay attention to when choosing toys for children?

What are the issues to pay attention to when choosing toys for children?

Toys are very important for children, as they can help them understand the world. The best toys for children are those that are suitable for them; Too many toys are not good, and too few toys are not good. So how many toys are suitable? Psychologists say that having 5 toys is just right, and children have a range of choices without getting stuck in selection difficulties or being distracted. Safety is important

24

2022

/

10

Educational Toy Market - Global Outlook and Forecast for 2021-2026

Educational Toy Market - Global Outlook and Forecast for 2021-2026

According to research and analysis by consulting and intelligence firm Ariston, the global puzzle toy market size in 2020 was 19.2 billion US dollars, and it is expected to reach 31.62 billion US dollars by 2026, with a CAGR growth rate of 7.12% during the forecast period. The process of children learning quickly with the help of educational toys is easier, which is expected to drive the growth of the global educational toy market. The recent trend of augmented reality (AR) learning toys may drive the demand for educational toys to grow year by year.

24

2022

/

10

< 12 >