Children's toy market in Vinh city is gloomy

Stroll around the specialized sales streetschildren's toysIn Vinh city, such as Dinh Cong Trang, Le Loi, Nguyen Van Cu, Vinh market area, supermarkets... it is easy to see the deserted, desolate scene even though International Children's Day, June 1st this year, has arrived.

Children's toy stores in Vinh City are deserted on International Children's Day. Photo: Nguyen Chau

Ms. Nguyen Thi Thu, owner of a children's toy store in Le Mao ward, Vinh city, sighed: "There has never been a year when the number of customers coming to buy goods has been as low as this year. Usually in previous years, from May 25th, there were customers coming to choose gifts for the children, but this year, there were no customers at all. On May 31st, there were only 3 customers visiting the store, the total revenue was less than 200,000 VND...".

Not only Ms. Thu's store, but this is also the situation of most children's toy store owners at this time. Most stores areno customersSome shops have even temporarily closed due to the gloomy business situation.

The number of people buying this item has decreased sharply compared to previous years. Photo: Nguyen Chau

Ms. Bui Thi Hong, owner of a children's toy store in Ben Thuy ward, sighed: "The sluggish market is not beyond my prediction because in fact this item has seen a significant decrease in buyers in the past time. Because I can predict the market, I do not import new goods, I just hope to sell all the old goods and be happy. At this time, the more new goods I import, the more I lose, because there are fewer customers and the shipping costs during this epidemic increase...".

According to shop owners, the main reason for the sluggish sales of this item is the epidemic situation.Covid-19complicated developments across the country, people are afraid to go out at this time, besides, this item is currently facing fierce competition from online sales channels with cheaper prices than buying directly.

Although children's toys are diverse, there is no breakthrough or innovation in design and model. Photo: Nguyen Chau

In addition, people's income is also heavily affected by the epidemic, so the demand for children's toys at this time is lower than in previous years, especially expensive items that very few people pay attention to.

According to records, children's toy products this year do not have any breakthroughs or innovations in form and design. Assembled toys, car models, cartoon characters, word puzzles... still account for a large market share. Prices are somewhat softer than in previous years, ranging from 50,000 - 200,000 VND/product. Other high-end products have higher prices but not more than 2 million VND."

To avoid the slump, children's toy store owners are currently implementing a series of shopping stimulus programs such as:reduce costproducts, buy more get more gifts, free shipping to customers' homes. In addition, they also increase promotion on social networking sites with the hope of gaining more customers and minimizing losses during the epidemic season./.