MarketLineIC GlobalToysGames 280820 PDF

MarketLine Industry Profile
Global Toys & Games

January 2020
Reference Code: 0199-0778
Publication Date: January 2020
WWW.MARKETLINE.COM
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Global Toys & Games
Industry Profiles
1. Executive Summary
1.1. Market value

The global toys & games market grew by 4.1% in 2018 to reach a value of $104.4 billion.
1.2. Market value forecast

In 2023, the global toys & games market is forecast to have a value of $133.6 billion, an increase of 28% since 2018.
1.3. Geography segmentation

Asia-Pacific accounts for 38.6% of the global toys & games market value.
1.4. Market rivalry

The fact that this market is fragmented, with a number of large multinational retailers operating alongside smaller
independent retailers, intensifies the rivalry level.
1.5. Competitive Landscape

Overall, the global toys & games market has experienced healthy growth in recent years. Asia-Pacific is the largest
region globally and it is also the fastest growing. China is the largest market in the Asia-Pacific region and the second
largest globally. Rising incomes and a move towards higher priced toys are contributing to the very strong growth in
the Chinese market.

Global Toys & Games
Industry Profiles
TABLE OF CONTENTS
1. Executive Summary 2
1.1. Market value ................................................................................................................................. 2
1.2. Market value forecast ...................................................................................................................2
1.3. Geography segmentation .............................................................................................................2
1.4. Market rivalry ................................................................................................................................ 2
1.5. Competitive Landscape ................................................................................................................2
2. Market Overview 7
2.1. Market definition ........................................................................................................................... 7
2.2. Market analysis ............................................................................................................................ 7
3. Market Data 9
3.1. Market value ................................................................................................................................. 9
4. Market Segmentation 10
4.1. Geography segmentation ...........................................................................................................10
4.2. Market distribution ......................................................................................................................11
5. Market Outlook 12
5.1. Market value forecast .................................................................................................................12
6. Five Forces Analysis 13
6.1. Summary .................................................................................................................................... 13
6.2. Buyer power ............................................................................................................................... 15
6.3. Supplier power ........................................................................................................................... 17
6.4. New entrants .............................................................................................................................. 19
6.5. Threat of substitutes ...................................................................................................................21
6.6. Degree of rivalry .........................................................................................................................22
7. Competitive Landscape 24
7.1. Who are the leading players?.....................................................................................................24
7.2. Has there been any recent merger or acquisitions in recent years? ..........................................25

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Industry Profiles
7.3. How have online retailers affected traditional bricks and mortar toy stores? .............................25
7.4. How is increased awareness about plastic pollution affecting the market? ...............................26
8. Company Profiles 27
8.1. Target Corp ................................................................................................................................ 27
8.2. Lego AS...................................................................................................................................... 33
8.3. Hamleys of London Ltd ..............................................................................................................36
8.4. Alibaba Group Holding Limited...................................................................................................38
8.5. Amazon.com, Inc........................................................................................................................42
8.6. Toys R Us Asia Ltd.....................................................................................................................46
9. Macroeconomic Indicators 48
9.1. Country data ............................................................................................................................... 48
Appendix 49
Methodology............................................................................................................................................ 49
9.2. Industry associations ..................................................................................................................50
9.3. Related MarketLine research .....................................................................................................50
About MarketLine .................................................................................................................................... 52

Global Toys & Games
Industry Profiles
LIST OF TABLES
Table 1: Global toys & games market value: $ billion, 2014–18 9
Table 2: Global toys & games market geography segmentation: $ billion, 2018 10
Table 3: Global toys & games market distribution: % share, by value, 2018 11
Table 4: Global toys & games market value forecast: $ billion, 2018–23 12
Table 5: Target Corp: key facts 27
Table 6: Target Corp: Annual Financial Ratios 28
Table 7: Target Corp: Key Employees 29
Table 8: Target Corp: Key Employees Continued 30
Table 11: Lego AS: key facts 33
Table 12: Lego AS: Key Employees 35
Table 13: Hamleys of London Ltd: key facts 36
Table 14: Hamleys of London Ltd: Key Employees 37
Table 15: Alibaba Group Holding Limited: key facts 38
Table 16: Alibaba Group Holding Limited: Annual Financial Ratios 40
Table 17: Alibaba Group Holding Limited: Key Employees 41
Table 18: Amazon.com, Inc.: key facts 42
Table 19: Amazon.com, Inc.: Annual Financial Ratios 44
Table 20: Amazon.com, Inc.: Key Employees 45
Table 21: Toys R Us Asia Ltd: key facts 46
Table 22: Toys R Us Asia Ltd: Key Employees 47
Table 23: Global exchange rate, 2014–18 48

Global Toys & Games
Industry Profiles
LIST OF FIGURES
Figure 1: Global toys & games market value: $ billion, 2014–18 9
Figure 2: Global toys & games market geography segmentation: % share, by value, 2018 10
Figure 3: Global toys & games market distribution: % share, by value, 2018 11
Figure 4: Global toys & games market value forecast: $ billion, 2018–23 12
Figure 5: Forces driving competition in the global toys & games market, 2018 13
Figure 6: Drivers of buyer power in the global toys & games market, 2018 15
Figure 7: Drivers of supplier power in the global toys & games market, 2018 17
Figure 8: Factors influencing the likelihood of new entrants in the global toys & games market, 2018 19
Figure 9: Factors influencing the threat of substitutes in the global toys & games market, 2018 21
Figure 10: Drivers of degree of rivalry in the global toys & games market, 2018 22

Global Toys & Games
Industry Profiles
2. Market Overview
2.1. Market definition

The toys & games market includes retail sales of action figures, activity toys, dolls, games, infant and baby toys,
miniature models, plush toys, puzzles, ride-on model toys, and toy vehicles.
Any currency conversions used in the creation of this report have been calculated using constant 2018 annual average
exchange rates.
For the purposes of this report, the global market consists of North America, South America, Europe, Asia-Pacific,
Middle East, South Africa and Nigeria.
North America consists of Canada, Mexico, and the United States.
South America comprises Argentina, Brazil, Chile, Colombia, and Peru.
Europe comprises Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy,
Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.
Scandinavia comprises Denmark, Finland, Norway, and Sweden.
Asia-Pacific comprises Australia, China, Hong Kong, India, Indonesia, Kazakhstan, Japan, Malaysia, New Zealand,
Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
Middle East comprises Egypt, Israel, Saudi Arabia, and United Arab Emirates.
2.2. Market analysis

The toys & games market globally has been growing at a healthy rate in recent years. Some acceleration in growth is
expected in the forecast period.
Asia-Pacific is the largest region globally and it is also the fastest growing. China is the largest market in the Asia-
Pacific region and the second largest globally. Rising incomes and a move towards higher priced toys are contributing
to very strong growth in the Chinese market. The middle class is growing dramatically and therefore the population
has more disposable income to spend on toys and games. A trend towards a more safety conscious attitude and the
demand for higher quality materials are driving the market forward quickly because these items tend to be more
expensive. Quality checks have been strengthened and the number of product recalls has declined. Companies have
realized the potential for increased spending in the market and have been quick to prioritize higher priced items.
The global toys & games market had total revenues of $104,421.8m in 2018, representing a compound annual growth
rate (CAGR) of 5.2% between 2014 and 2018. In comparison, the Asia-Pacific and US markets grew with CAGRs of
10.1% and 2.4% respectively, over the same period, to reach respective values of $40,330.7m and $26,019.1m in
2018.
The largest market globally is the US, which accounts for over a quarter of the global market value. Growth in the US
market was largely driven by a growth in collectible toys, such as LOL Surprise products and trading cards (including
the Pokémon Trading Card Game), which have seen sales soar. The growth of such products has been aided by the
increasing engagement of children with social media videos, particularly YouTube, which feature the opening of
collectible toys/cards and regularly attract millions of views.
While growth in this market has remained healthy on a global scale, it has been constrained to an extent by the
growing prevalence of digital alternatives including games consoles, tablets, and mobile phone apps. In 2018, games
software for games consoles, tablets, PCs, and mobile phones generated revenues of $51bn globally, around 49% of
the size of the traditional toys & games market.

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Industry Profiles
Hypermarkets, supermarkets and hard discounters account for the largest proportion of sales in the global toys &
games market in 2018, sales through this channel generated $14,356.0m, equivalent to 13.7% of the market's overall
value. Sales through the online pureplay generated revenues of $13,390.2m in 2018, equating to 12.8% of the
market's aggregate revenues.
Contributing to this rise is a shift in retail attitudes, which allows supermarkets to be considered by the consumer for
toys and games where previously the company would be mainly associated with food products. Consumers are now
able to shop for toys whilst buying their groceries and household items.
Moreover, more consumers are purchasing toys and games online. Globally the online retail sector is growing and
according to China’s official statistics, online retail sales surged 17.8% year-on-year in the first half on 2019,
accounting for nearly 20% of the overall retail sales of consumer goods.
Moreover, according to a report from the Commerce Department the total market share of “non-store,” or online U.S.
retail sales was higher than general merchandise sales for the first time in history in 2019.
The performance of the market is forecast to follow a similar pattern with an anticipated CAGR of 5.1% for the five-
year period 2018 - 2023, which is expected to drive the market to a value of $133,634.2m by the end of 2023.
Comparatively, the Asia-Pacific and US markets will grow with CAGRs of 8.8% and 1.1% respectively, over the same
period, to reach respective values of $61,556.3m and $27,508.7m in 2023.
This market will remain in growth driven by new toy releases linked to popular upcoming movies such as The
Incredibles 2, which was released in 2018, Toy Story 4 (2019), Frozen 2 (2019), The Lego Movie 2 (2019), and How to
Train Your Dragon 3 (2019). Collectible toys will also continue to be a key growth driver in this market.

Global Toys & Games
Industry Profiles
3. Market Data
3.1. Market value

The global toys & games market grew by 4.1% in 2018 to reach a value of $104.4 billion.
The compound annual growth rate of the market in the period 2014–18 was 5.2%.
Table 1: Global toys & games market value: $ billion, 2014–18
Year $ billion € billion % Growth

2014 85.3 72.3
2015 90.2 76.4 5.7%
2016 95.3 80.7 5.7%
2017 100.3 84.9 5.2%
2018 104.4 88.4 4.1%
CAGR: 2014–18 5.2%
SOURCE: MARKETLINE MARKETLINE
Figure 1: Global toys & games market value: $ billion, 2014–18

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Industry Profiles
4. Market Segmentation
4.1. Geography segmentation

Asia-Pacific accounts for 38.6% of the global toys & games market value.
United States accounts for a further 24.9% of the global market.
Table 2: Global toys & games market geography segmentation: $ billion, 2018
Geography 2018 %
Asia-Pacific 40.3 38.6
United States 26.0 24.9
Europe 25.8 24.7
Middle East 2.3 2.2
Rest of the World 10.0 9.5
Total 104.4 99.9%
Figure 2: Global toys & games market geography segmentation: % share, by value, 2018

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4.2. Market distribution

Hypermarkets, Supermarkets and Hard Discounters form the leading distribution channel in the global toys & games
market, accounting for a 13.7% share of the total market's value.
Online Pureplay accounts for a further 12.8% of the market.
Table 3: Global toys & games market distribution: % share, by value, 2018
Channel % Share
Hypermarkets, Supermarkets and Hard Discounters 13.7%
Online Pureplay 12.8%
Department Stores 4.2%
Music, Video, Book & Software Specialists 4.0%
Other 65.2%
Total 100%
Figure 3: Global toys & games market distribution: % share, by value, 2018

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Industry Profiles
5. Market Outlook
5.1. Market value forecast

In 2023, the global toys & games market is forecast to have a value of $133.6 billion, an increase of 28% since 2018.
The compound annual growth rate of the market in the period 2018–23 is predicted to be 5.1%.
Table 4: Global toys & games market value forecast: $ billion, 2018–23
Year $ billion € billion % Growth

2018 104.4 88.4 4.1%
2019 109.4 92.6 4.8%
2020 114.8 97.2 4.9%
2021 120.6 102.1 5.1%
2022 126.9 107.5 5.2%
2023 133.6 113.2 5.3%
CAGR: 2018–23 5.1%
Figure 4: Global toys & games market value forecast: $ billion, 2018–23

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Industry Profiles
6. Five Forces Analysis

The toys & games market will be analyzed taking toys and games retailers as players. The key buyers will be taken as
individual end consumers, and toys and games manufacturers as the key suppliers.
6.1. Summary
Figure 5: Forces driving competition in the global toys & games market, 2018
The fact that this market is fragmented, with a number of large multinational retailers operating alongside smaller
independent retailers, intensifies the rivalry level.
The buyers in this market are end-consumers. This significantly weakens buyer power; the loss of any one buyer’s
custom is unlikely to have a significant effect on a player’s revenues. Additionally, the standing of any individual
customer is diminished because of the sheer volume of potential customers. However, when taken as a collective, the
lack of switching costs and the tendency to switch between whoever provides the best deal increases buyer power,
particularly when it comes to popular toys.
The size of toy manufacturers ranges from smaller companies, specializing in specific toys and/or games, to large
corporations such as Hasbro and Mattel that produce and market a wide variety of products. These larger
corporations experience higher supplier power, as the loss of a contract with such a supplier could affect players’
revenues. A significant feature of the large toy manufacturers in this market is their acquisition of brands. Acquiring a
popular brand can have a huge impact on supplier power, with manufacturers who acquire the most popular brands
possessing significant power.
Low cost switching for buyers and the relative ease of access to both buyers and suppliers makes market entry
relatively simple. However, there exists a high level of product differentiation, so newcomers may find it harder to
attract buyers away from existing incumbents. Additionally, the strength of incumbent brands may prove a difficult
entry barrier to overcome.
The most significant substitute to the toys and games market is digital alternatives including games consoles, tablets,
and mobile phone apps. These substitutes are becoming more prevalent in an increasingly digital age. Children now
have grown up surrounded by digital media. Consoles, PCs, tablets, and mobile phones are playing an ever growing
part in children's lives by providing games, education and entertainment.

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Some market players, primarily specialized toy retailers, are highly dependent on revenues from toy and game sales.
These players experience increased rivalry, as players must be profitable within that particular market at all times.

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Industry Profiles
6.2. Buyer power

Figure 6: Drivers of buyer power in the global toys & games market, 2018
The buyers in this market are end-consumers. This significantly weakens buyer power; the loss of any one buyer’s
custom is unlikely to have a significant effect on a player’s revenues. Additionally, the standing of any individual
customer is diminished because of the sheer volume of potential customers.
Furthermore, the fact that there are many different types of toys for different ages, sexes and interests means the
high degree of differentiation found in the toys and games market works against buyer power, as toy shops can tailor
their offerings regardless of price knowing there is a market for their products.
However, when taken as a collective, the lack of switching costs and the tendency to switch between whoever
provides the best deal increases buyer power, particularly when it comes to popular toys. This is impeded somewhat
by the issue of price sensitivity, which becomes less of an issue when toys and games are purchased during the
holiday season or for special occasions such as birthdays. This is particularly prevalent for ‘must have’ toys which tend
to change year to year. However, generally price sensitivity is high in this market. Consumers have actually become
increasingly price sensitive given the rise of e-commerce and the ability to search online for the cheapest option.
Online pureplay retailers now account for over 12% of sales globally. Sales through such retailers in the Japanese,
Mexican, and German markets are significantly higher than the global average, standing at 29.3%, 20.9%, and 19.4%
respectively.
Players can attempt to increase customers’ likelihood to return with loyalty schemes. For example, Walmart is a
leading player of toys & games in this market; in March 2016, Walmart introduced its 3-2-1 Save program in which all
Walmart Credit Cards, Walmart MasterCards and Walmart MoneyCards offer 3% cash back on online purchases made
on Walmart.com and 1% cash back on purchases at Walmart. What’s more, online retailers may encourage consumers
through fast delivery. For example, consumers with Amazon Prime membership, which operates in a variety of
markets including the US, Canada, Germany, the UK, China, and Japan, benefit from fast, free delivery on many items,
which is likely to entice such consumers to purchase toys & games from this retailer. Discouraging movement across
retail outlets can reduce consumer mobility which, in the long term, can weaken buyer power.
The likelihood of end consumers integrating backward and making their own toys is unlikely, although not impossible,
due to the popularity of arts and crafts hobbies and websites, such as Etsy and Pinterest. It is, however, impossible for
market players to forward integrate due to their position in the supply chain. Despite being inherently a part of
childhood, toys and games are not vital goods and this tends to increase buyer power somewhat as customers can
forego the products in times of financial adversity.

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Overall, buyer power is assessed as moderate.

Global Toys & Games
Industry Profiles
6.3. Supplier power

Figure 7: Drivers of supplier power in the global toys & games market, 2018
The size of toy manufacturers ranges from smaller companies, specializing in specific toys and/or games, to large
corporations such as Hasbro and Mattel that produce and market a wide variety of products. These larger
corporations experience higher supplier power, as the loss of a contract with such a supplier could affect players’
revenues. They tend to fuel demand for their toys through extensive marketing activities often resulting in the large
companies producing the ‘must have’ toys.
A significant feature of the large toy manufacturers in this market is their acquisition of brands. Acquiring a popular
brand can have a huge impact on supplier power, with manufacturers who acquire the most popular brands
possessing significant power. The larger manufacturers such as Mattel and Hasbro tend to have the licensing rights to
popular brands made famous by television, film or book, such as Marvel, DC, Star Wars or Transformers.
Hasbro has seen its power surge in recent times, leaving Mattel struggling somewhat. Hasbro managed to win a deal
to manufacture Disney Princess toys in 2014, taking the rights from Mattel. At the time, Mattel had valued its Disney
Princess business at $300m. Hasbro has continued to make key acquisitions. In 2018, the toy manufacturer entered a
$522m agreement to acquire Saban’s Power Rangers and a range of other entertainment brands including My Pet
Monster, Popples, and Treehouse Detectives. Furthermore, Hasbro announced in August 2019, that it has agreed to
buy Entertainment One in a $4 billion deal. The toy giant's takeover of the "Green Book" and "The Hunger Games"
distributor promises to boost its brand portfolio, accelerate its growth, and give it access to a $2 billion content
library. Buying Entertainment One will add children's cartoon franchises such as Peppa Pig and PJ Masks - which
generated $2.5 billion in retail sales last year.
Moreover, there has been a lot of talk in the past year or two of Hasbro potentially acquiring Mattel, which has
suffered financially in recent times. However, Mattel refused an offer by Hasbro in 2017, but rumors surrounding a
potential deal still persist. As such, at present, Hasbro possesses significant supplier power as major toy retailers
would see their sales drop significantly without Hasbro products.
While toy retailers are reliant on the large toy manufacturers in this market, the situation is similar when reversed.
The likes of Hasbro and Mattel are reliant on the leading players for much of their revenues. This is evident in the
impact that the collapse of toy retailer Toys ‘R’ Us has had on these suppliers. It is estimated that Hasbro generated
around 9% of its revenue from the retailer. Hasbro Inc. reported a 13% decline in sales during the holiday season, the
latest indication of how toy makers struggled following last year’s liquidation of Toys “R” Us. Rival Mattel Inc. also
reported a drop in sales for 2018’s final quarter, down 5%. As such, supplier power is impeded to an extent in this
respect.

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Many retailers are unlikely to backward integrate into manufacturing toys and games. However this is not impossible,
with now defunct retailer Toys ‘R’ Us being an example. Similarly, retailers Hamleys and The Entertainer manufacture
and sell a range of own-branded toys and games, while Walmart has a range of 1,000 toys that are exclusive to the
retailer. This backward integration significantly impacts supplier power, as does the low switching costs for retailers.
However, suppliers are able to forward integrate, particularly through online sales, and this helps to negate this
impact. A successful example of forward integration includes the Lego stores.
Retailers are dependent on providing popular products and products of high quality and this, coupled with the high
level of product differentiation in the market, boosts supplier power. Government regulation is strict as toys must
pass certain safety tests in order to be sold. Products that have been deemed unsafe after sale are often recalled,
which can impact heavily on not only retailers' revenues and brand reputation but also the suppliers. In March 2017,
Kids II recalled 680,000 rattles due to a potential choking hazard. In April 2019, the U.S. Consumer Protections Safety
Commission issued the recall of 36 Kids II rocking sleeper models, which affects 694,000 units sold. The move came
just two weeks after Fisher-Price recalled five million of its similar Rock 'n Play sleepers, which were linked to at least
32 baby deaths over the last 10 years.
Supplier power in the toys and games market is assessed as moderate overall.

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6.4. New entrants

Figure 8: Factors influencing the likelihood of new entrants in the global toys & games market, 2018
Low cost switching for buyers and the relative ease of access to both buyers and suppliers makes market entry
relatively simple. However, there exists a high level of product differentiation, so newcomers may find it harder to
attract buyers away from existing incumbents. Additionally, the strength of incumbent brands, such as Carrefour and
Amazon, may prove a difficult entry barrier to overcome.
Entry on a small scale is achievable – targeting niche markets (i.e. crafts or traditional wooden toys) or stocking the
latest tech-savvy toys for teens can be lucrative options. However, such strategies may prove difficult to compete
effectively with established brands and retailers of considerable size who benefit from economies of scale. Entering
via a cheaper price point is a viable option, particularly if done exclusively online due to lower fixed costs. However, an
additional capital outlay would be required to cover lower profit margins and loss leaders. Relatively high fixed costs
in the form of sales and storage space in shops, staff, and delivery costs can be obstacles to entry and fast expansion;
however, online operations generally tend to involve lower costs and can be an effective alternative strategy.
However, any new players in that arena would need to compete with Amazon, which is a major player in Europe.
In recent years plastic toys have come under scrutiny as many countries are committing to reduce the amount of
plastic waste that they produce. An Ellen MacArthur Foundation report has claimed that, by 2050, there will be more
plastic waste in the sea than fish by weight. Plastic is one of the most widely used materials in the manufacture of toys
and games but unfortunately much of it eventually ends up at a landfill. Certain components in toys and games use
technical plastics like polyamide, polycarbonate or polymethyl methacrylate. These tend to have a short life span and
cannot usually be reused so are thrown away. With the production of toys and games being very plastic heavy,
increasingly strict regulation on its use could be detrimental to the market, especially for smaller companies that
cannot afford to pump money into research of biodegradable materials. Bioplastics, which are made wholly or in part
from organic matter rather than oil, could be one solution in the market and some toymakers are replacing their
traditional materials in order to become more environmentally friendly. One US based company, Green Dot
Bioplastics, is actively working with manufacturers of toys and games to introduce different biodegradable plastic
alternatives into the manufacturing stage of this market. This can however, be costly especially for new entrants.
Hasbro has also claimed that it will start using plant-based bio-polyethylene terephthalate (PET) to produce the
packaging for its products starting from 2019.
One rising distribution channel in recent years has been supermarket and hypermarket retailers, who, because of their
bulk buying power are able to capture an increasingly large section of the market that requires more budget items.
This channel accounted for over 13% of sales in this market in 2018. Also contributing to this rise is a shift in retail
attitudes, which allows supermarkets to be considered by the consumer for toys and games where previously the

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Industry Profiles
company would be mainly associated with food products. Consumers are now able to shop for toys whilst buying their
groceries and household items. This can be enticing especially as there is no need for consumers to go to specialist
retailers because they are able to do their entire shopping under one roof.
The exit of Toys ‘R’ Us from the market opens up possibilities for potential new entrants. The company was a leading
player in this market prior to its demise. However, while this will offer entry opportunities to an extent, it is likely that
many of the leading players will expand aggressively to take the share left by Toys ‘R’ Us.
There are a number of stringent regulations and safety tests that toys must pass and this may act as a deterrent to
new entrants. For example, members of the European Union, manufacturers and distributors must comply with the
EU Toy Safety Directive, published in 2009. This came into force in two phases; physical requirements in July 2011, and
chemical requirements in July 2013. From design and production, to the final product in store, toys must meet and
demonstrate compliance to a complex combination of requirements. In China, manufacturers and distributors must
comply with the Safety of Toys (Safety aspects related to mechanical and physical properties), Safety and Quality of
Sewn, Plush and Cloth Toys and Labeling and Instructions for Toys under the new toy safety standards. The US Child
Safety Protection Act (Small Parts Hazard Warning Rule and Rules for Reporting Choking Incidents), Consumer Product
Safety Commission Engineering Test Manual for Rattles and the U.S. Consumer Product Safety Commission Labeling
Requirements for Art Materials Presenting Chronic Hazards (LHAMA) are just some of the precautions new entrants to
the US market would need to ensure.
Interactive toys are becoming increasingly popular and new entrants that can utilize the latest technologies are likely
to thrive. Toys that have an extra dimension on an app, for example, are doing well because they bridge the gap
between real life and toys. There is an increasing realization, however, that children are spending too much time on
digital devices so the sale of traditional toys and games can be boosted by parents trying to dissuade their children
away from these.
Advertising through social media, particularly on YouTube, is becoming increasingly popular and items such as
Shopkins and LOL Surprise Dolls are unlikely to have become a hit if it was not for these videos. The top toy review site
on YouTube, ‘Fun Toys Collector Disney Toys Review’, has over 10 million subscribers.
The global market has been growing solidly in recent years, which is likely to entice new entrants. Parts of the Asia-
Pacific region, such as China, India and Indonesia, have been seeing particularly good growth in recent years. Some
countries, such as Denmark, the Netherlands, Hong Kong, and Japan, have seen negligible growth and are likely to be
avoided by new entrants.
Overall, the threat of new entrants is assessed as moderate.

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6.5. Threat of substitutes

Figure 9: Factors influencing the threat of substitutes in the global toys & games market, 2018
The most significant substitute to the toys and games market is digital alternatives including games consoles, tablets,
and mobile phone apps. These substitutes are becoming more prevalent in an increasingly digital age. Children now
have grown up surrounded by digital media. Consoles, PCs, tablets, and mobile phones are playing an ever growing
part in children's lives by providing games, education and entertainment.
Despite not providing a cheaper alternative on the whole, digital and video games are becoming more popular to the
detriment of traditional toys and games, where customer loyalty is low with minimal switching costs. Smartphone
penetration rates are on the increase globally with the US, Germany, and Australia reaching 77%, 78.8%, and 69%
respectively in 2018. In Russia, internet penetration rates have risen from 68% in 2013 to 75% in 2018, while in Brazil
penetration has grown from 51% in 2013 to 70% in 2018. In 2018, games software for games consoles, tablets, PCs,
and mobile phones generated revenues of $51bn globally, around 49% of the size of the traditional toys & games
market. This trend towards video games and electronics will continue to take consumer spend away from traditional
toys & games in the coming years as technology and innovation continue to develop.
Another option is purchasing second-hand toys from charity shops and internet sites such as eBay or making toys from
scratch. These would likely be a lower cost option. However, children with more affluent parents still provide a stable
source of revenue for more traditional toys and games. Counterfeit toys can be a significant threat to the revenues of
manufacturers with seizures by customs not uncommon. Toys accounted for 14% of goods detained by EU customs
officials, the second largest category behind cigarettes. Nearly 3.8 million potentially dangerous fake toys were seized
in 2018. China is the biggest manufacturer of counterfeit toys in the world.
There is a growing trend towards giving experiences and days out as gifts rather than buying toys & games; however,
this is unlikely to become a complete substitute in this market.
The threat of substitutes is assessed as strong overall.

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Industry Profiles
6.6. Degree of rivalry

Figure 10: Drivers of degree of rivalry in the global toys & games market, 2018
The toys and games market is fairly fragmented, with numerous players present, boosting competition within the
market. However, there are some large incumbents, such as Amazon and Carrefour, which operate globally and
benefit from economies of scale, allowing them to compete more intensely on price.
Some market players, primarily specialized toy retailers such as Ludendo, are highly dependent on revenues from toy
and game sales. These players experience increased rivalry, as players must be profitable within that particular market
at all times. One particular retailer that has fallen victim to this is Toys ‘R’ Us. This retailer was the leading player
globally but closed down all of its stores in the US, UK, and Australia in 2018 following bankruptcy. The exit of Toys ‘R’
Us from these markets eases competitive pressures on other retailers to an extent. However, the existing leading
players in are keen to seize the share of the market left behind by the demise of this retailer. The Entertainer in
particular has benefitted from the demise of Toys ‘R’ Us in the UK, seeing its total sales rise by 7.4% and online sales
grow by 28% in 2017/2018 financial year.
In other countries, such as France, Spain, and South Africa, Toys ‘R’ Us is still in operation due to buy outs from
investment firms. However, the toy retailer in these countries has been significantly affected by the collapse of its
parent company and is not as competitive as it once was. In April 2018, Irish toy retailer Smyths Toys signed a deal to
acquire all Toys ‘R’ Us stores in Germany, Austria and Switzerland. This has involved the company taking over 93
stores and four online stores, giving the company a significant competitive advantage as it enters mainland Europe.
In the UK, price is a key point of competition, with many consumers being price sensitive. This is evidenced by the rise
in sales of toys through discount chains in this market such as B&M, Aldi, The Works, and Home Bargains. B&M has
now entered the top 10 leading toy retailers in the country, growing its share to almost 3% of the market. Conversely,
for retailers that do not wish to compete on price, focusing on customer experience can be a key strategy. For
example, Hamleys – while not amongst the leading retailers – sees success through this strategy in various European
and Asian countries. The retailer offers an exciting and engaging experience for children, resulting in consumers
spending longer in the store.
The dominance of Amazon in this market is hard to compete with. This retailer sees significant customer loyalty,
largely driven by its Amazon Prime offering. The broad range of toys & games available from the retail giant, along
with its competitive pricing and delivery subscription makes for a formidable incumbent.
In Russia, the dominance of two major online retailers, Wildberries and Ulmart, makes it hard for other online
pureplay retailers to compete with. These retailers are dominant in Russia; Ulmart operates in 240 cities. Ulmart has

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Industry Profiles
invested in 46 urban fulfilment centers located in the major Russian cities that stock the most popular products,
enabling the company to offer efficient delivery, which other retailers will struggle to compete with. Similarly,
Wildberries has heavily invested in logistics to overcome the difficulties with operating in such a large country.
Turkey is currently seeing a number of international retailers enter its toys and games market, which has the potential
to significantly increase the rivalry level. For example, Lego opened its first store in Turkey in 2018, while Amazon
began e-commerce operations in the country in the same year.
Department stores, supermarkets and retailers such as Carrefour and Tesco, being less dependent than specialized
stores due to the wide variety of goods they stock, experience decreased rivalry as variations in the performance of
one market are easier to cope with. These players are also able to reduce their profit margins, competing largely on
price, creating a significant threat to specialized toy stores and further increasing rivalry.
Exit barriers are not a huge issue in this market due to the relative ease with which players can divest their assets,
such as retail units and fixtures and fittings, which can be used across a number of industries. The tendency for
customers to move between toys and games vendors coupled with low switching costs, also serves to increase
competition. Furthermore, 'Black Friday', sees retailers slash prices on a variety of goods including toys and games in
the run-up to Christmas, leading to chaotic scenes at retailers. As a result, it is easy for customers to move from one
retailer to another based on price and this boosts the intensity of rivalry. The popularity of many toys and games is
short-lived and/or seasonal, which means the retail market is subject to rapid change, further boosting rivalry.
Overall, the degree of rivalry is strong.

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7. Competitive Landscape
Overall, the global toys & games market has experienced healthy growth in recent years. Asia-Pacific is the largest
region globally and it is also the fastest growing. China is the largest market in the Asia-Pacific region and the second
largest globally. Rising incomes and a move towards higher priced toys are contributing to the very strong growth in
the Chinese market.
The most significant threat to the toys and games market is digital alternatives including games consoles, tablets, and
mobile phone apps. These substitutes are becoming more prevalent in an increasingly digital age. Children now have
grown up surrounded by digital media. Consoles, PCs, tablets, and mobile phones are playing an ever growing part in
children's lives by providing games, education and entertainment.
However, in November 2019, China has announced drastic curfew measures on children in an attempt to curb video
game addiction in the country. Gamers under the age of 18 will be banned from playing online games for more than
90 minutes on week days. Official government guidelines outlining the new restrictions were issued by China's
General Administration of Press and Publication and will be imposed directly through gaming platforms operating in
the country. This curfew should further aid growth in the toys and games market.
7.1. Who are the leading players?

Alibaba Group Holding Limited is an online and mobile commerce company that operates its ecosystem as a platform
for third parties. It is the world's largest retailer and also one of the largest Internet and artificial intelligence
companies. Its online sales and profits surpassed all US retailers (including Walmart, Amazon, and eBay). In fact in
April 2018, Amazon said that it will close its online store in China; allowing the country’s consumers to buy from
Chinese merchants after facing difficulties competing with domestic leaders such as Alibaba.
Toys ‘R’ Us Asia, has repeatedly stressed that the Asian business is now completely separate from the troubled US
entity, Toys ‘R’ Us Inc., and that its shareholders are focused on expanding the company’s presence in Asia. Toys ‘R’ Us
Asia was originally owned as a joint venture between Toys ‘R’ Us Inc. and Fung Retailing Group, part of the Fung
Group. Toys ‘R’ Us Singapore, which has 11 stores islandwide and 350 employees, plans to “further expand”. Three
new outlets had opened in the last eight months at Parkway Parade, Waterway Point and Westgate malls, and last
month, it completed refurbishing its store at Tampines Mall.
Hamleys is an Indian multinational toy retailer and is one of the largest retailers in the world with a very strong brand
reputation. Reliance Brands, a subsidiary of Reliance Industries completed its acquisition of Hamleys for nearly $7m in
July 2019. Founded in 1760, Hamleys is the world’s oldest toy shop and over the last 16 years the retailer, best known
for its seven-storey store on Regent Street, in London, has passed from owners in Iceland, to France and, most
recently, to China.
Amazon.com, Inc. is an online retailer. The company offers a range of products and services through its trademark e-
commerce site, amazon.com. It is the world’s largest retailer with nearly 200 million unique monthly visits. The online
giant has a strong foothold in many countries and many specialist retailers such as Toys R Us have felt the effects of
Amazon’s expansion toys and games market.
Established in 1977, Ludendo SA is one of Europe’s largest toy retailers. The company provides a range of toys, games,
and leisure products for children of all ages. In September 2012 Groupe Ludendo, bought Hamleys for a reported
£60m (approx. $78.8m). In May 2019, Indian retail company, Reliance Retail, announced that it has acquired Hamleys
for £67.96m (approx. $ 89m) in an all-cash deal.
Lego A/S (Lego) is one of the leading toy manufacturers in the world. It carries out design, development, production,
and marketing of toys and play materials. In 2018, Lego announced plans to use renewable ethanol in all its
polyethylene (PE) designs and to use sustainable materials in all its core packaging and products by 2030 in a bid to
reduce the use of plastic.

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7.2. Has there been any recent merger or acquisitions in recent

years?
Players use a number of strategies to generate growth but key to the success of Alibaba is through a number of
strategic partnerships and acquisitions. For example, in 2016, Alibaba acquired control of Lazada with an investment
of $1 billion and boosted its stake further to 83% in 2017. Furthermore, Alibaba Group injected a further $2 billion
into Lazada as part of the group’s ongoing effort to accelerate the region’s e-commerce development. Lazada offers
the widest range of products in categories from beauty, fashion, consumer electronics, household goods and toys and
games; this acquisition has not only increased Alibaba’s consumer base but also diversifies its product offerings
further. Moreover, in September 2019, Alibaba acquired NetEase's import e-commerce platform for $2bn in a bid to
further boost its import service for its Chinese customers. The group reported its fastest pace of growth in more than
four years by generating more revenue from newer arenas such as cloud computing. Four years ago, Alibaba decided
to take the cloud part of its business more seriously and expand outside of China with a billion dollar investment in
Aliyun (now known as Alibaba Cloud). Aliyun competes directly with Amazon Web Services and has in fact surpassed
Amazon in China. In the company’s Q2 2019 statement, Alibaba reported revenue growth of 40% year-over-year,
reaching 119 billion yuan ($16.7 billion). For China’s cloud infrastructure services, while AWS and Microsoft are in the
top five ranking in China, the market is led by Alibaba.
Moreover, Reliance Brands, a subsidiary of Reliance Industries completed its acquisition of Hamleys for nearly $7m in
July 2019. Prior to this key strategies used by Hamleys in recent years includes international expansion. In 2018
Hamleys, opened its largest worldwide flagship store in Beijing spanning over 115,000sq ft. Hamleys store opening
coincides with a population boom in China, with childbirth seeing over a 7% rise and creating a high demand for toys.
This has seen sales volumes of toys and games in China increase rapidly. Reliance also has a strong global presence
and Hamleys can use this to its advantage by continuing to expand its geographical footprint.
In August 2019 Target entered a partnership with The Walt Disney Company. Disney announced it would open 25
permanent branded shops inside Target stores across the country by October 2019, with 40 more coming by October
2020, plus a Disney experience on Target’s website. The Disney Store at Target locations have a "shop-in-shop" layout
with an average square feet of 750.
This strategy will drive growth and in turns increase Target’s market share and revenues particularly as Disney is
releasing two major movies this year; Star Wars: The Rise of Skywalker and Frozen 2 as well as rolling out its Disney+
streaming service in November.
This partnership offers exclusivity and provides Target with a competitive advantage over its rivals. Retailers like
Target are finding new ways to bring customers into their brick-and-mortar locations particularly as online retailers
such as Amazon are taking away consumers and dominating the market. While competitors like Amazon offer
discounted pricing and one-day delivery, Target is using its physical locations as virtual distribution centers to let
customers choose how they want to shop. The partnership with Disney will in turn help Target gain more foot traffic;
the stores feature interactive areas for kids and exclusive items previously only available at The Disney Store. All of
this is designed to create destinations within the stores, which increases both the number of visits, and the amount of
time customers spend per visit. Target has also been going head to head with Amazon; Target announced a
partnership on October 8, 2019 to re-launch the website of Toys "R" Us Toysrus.com. The deal will allow Toys R Us to
once again have an online presence, post-bankruptcy, as it simultaneously begins to open Toys R Us stores in the U.S.
again. And it could also be a huge boost to Target’s already-strong toy business ahead of this holiday season.
Under the agreement, shoppers on the Toys "R" Us website, can complete their purchases on Target.com. Toys can be
delivered or picked up in Target stores. This is a strategic move as it will help Target serve even more toy shoppers
and drive new growth.
7.3. How have online retailers affected traditional bricks and mortar
toy stores?
In September 2017 the US-based parent company of Toys R Us announced that it had entered into bankruptcy
protection proceedings and planned to close more than 10% of its US stores and a quarter of its UK stores. During

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Industry Profiles
2018, the company had closed all of its stores in the UK and the US. Hamleys, Woolworths and Hawkins Bazaar all
suffered from the onslaught of internet shopping, plus the discounters and supermarkets before them, but Toys R Us
didn't learn from their example. When it comes to toys, brand loyalty is to the manufacturer however, it doesn't
matter who you buy from. This makes the market on and offline fiercely price-competitive.
Moreover, Companies such as Amazon have made billions in profit by utilizing the power of the internet and have
shifted consumer shopping habits away from physical stores and onto the internet. Toys R Us ultimately failed
because it lagged behind more dynamic companies. Amazon’s two-day free shipping and a widespread availability of
products has seen the online retailers cut into the market share of traditional toy retailers.
Other toy stores are in danger of following the same fate if consumer habits continue to change. Companies that are
unable to compete with the likes of Amazon in terms of price will likely lose their customers. For example, in May
2018, specialist in games and toys La Grande Récré’s parent company, Ludendo, announced the closure of 53
integrated, unprofitable La Grande Récré stores. The company, which generated 460m euros (approx. $510m) in sales
for the year ending February 2017, has kept 109 stores open from a total of around 250. Moreover, a disappointing
Christmas season saw the company sales down 5.6%. Ludendo, has had a series of expensive acquisitions in recent
years, including that of the British Hamleys which it bought for £60m (approx. $78.8m) back in 2012, which was then
resold. Ludendo, which was finally released by its creditors, was struggling under a debt of 105m euros, a situation
that forced the company’s owner, Jean-Michel Grunberg, to announce the search for a new investor in late 2017.
Hamleys has felt the effects of the increasingly competitive toy market, the company’s previous successors have tried
to turn the British household name into a global brand, with limited success. In 2017 it closed a number of loss-making
stores in the UK, Ireland and Nordic countries. This restructuring helped turn that year’s £12m loss into a profit of
£2.4m in 2018. The toy seller has 167 stores in 18 countries, the majority of them in India, where Reliance is already
its franchise partner. Hamley’s is another example of an iconic brand which are finding it difficult to compete in the
market following increased competition from online retailers and it is anticipated that the company will continue to
grow following the acquisition by Reliance.
However, Toys R Us Asia has stayed resilient through all the turmoil endured by its parent company. The Asia
subsidiary divorced itself from its US Company last year. As a result Toys R Us Asia, is now a wholly independent
entity, unaffected by the financial strife suffered by the beleaguered Toys R Us in the U.S. Toys ‘R’ Us Asia plans to
expand its presence in the region, mainly in China, Japan and Singapore included opening 68 new stores. The company
is also looking at new markets such as Indonesia and Vietnam. According to the CEO of Toys ‘R’ Us Asia, Andre Javes,
Toys ‘R’ Us Asia had been growing rapidly despite the troubles in the US, registering “double digit” revenue growth
over the last five years and opening 49 stores in the past year, most of them in China. In addition to this, Toys ‘R’ Us
has a very loyal customer base in Asia and according to the company consumer prefer going to its store, unlike most
other product categories that are switching rapidly to online channels.
7.4. How is increased awareness about plastic pollution affecting

the market?
In addition to this, plastic pollution is a hot topic at the moment and many countries are committing to reduce the
amount of plastic waste that they produce. With the production of toys and games being very plastic heavy, many
retailers have come under fire. Lego announced in 2018 that it is going to start making toys from plant-based plastic.
In an effort to become more sustainable, the Danish company announced plans to make tiny plastic trees and bushes
for its playsets using ethanol extracted from Brazilian sugarcane. This strategy will widen Lego’s consumer base and
demonstrates the company commitment to reducing environmental pollution.
Moreover, many brands are tapping into this market in recent years such as Plan Toys which makes toys from
sustainable reclaimed rubberwood and Bioserie which first launched in 2010, and uses Polylactic Acid to create non-
toxic and sustainable toys for young children. There is potential for growth in this market as it is not oversaturated.

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Industry Profiles
8. Company Profiles
8.1. Target Corp
8.1.1. Company Overview
Target Corp (Target) is a retailer of general merchandise and food products. The company’s product portfolio includes
baby and beauty products, clothing, electronic equipment, furniture, grocery, home and pet products, school and
office supplies, shoes, sports and outdoor products, toys and sports equipment. It also offers optical, clinics and other
amenities, home delivery, photo printing service, rewards and gift card services. The company leases certain retail
stores, warehouses, distribution centers, office space, land, and equipment. Target markets products under owned
brands and exclusive brands. It operates stores under Target, SuperTarget and Bullseye Design banners. Target is
headquartered in Minneapolis, Minnesota, the US.
The company reported revenues of (US Dollars) US$75,356 million for the fiscal year ended February 2019 (FY2019),
an increase of 3.6% over FY2018. In FY2019, the company’s operating margin was 5.5%, compared to an operating
margin of 5.6% in FY2018. In FY2019, the company recorded a net margin of 3.9%, compared to a net margin of 4% in
FY2018.
8.1.2. Key Facts
Table 5: Target Corp: key facts
Head office: 1000 Nicollet MallMINNEAPOLIS, Minnesota, United States

Telephone: 16123046073
Fax: 16127615555
Number of Employees: 360000
Website: corporate.target.com/
Financial year-end: February
Ticker: TGT
Stock exchange: New York Stock Exchange
SOURCE: COMPANY WEBSITE MARKETLINE
8.1.3. Business Description
Target Corp (Target) retails general merchandise and food items. The company generates revenue from two sources:
General Merchandise Sales and Other Sources.
As of February 2019, the company operated through a network of 1,844 stores across the 50 states in the US with a
total retail space of 239,581 thousands sq. ft. It operated 1,525 company-owned stores, 161 leased stores and 158
owned building on leased land stores.
Target also operates 40 distribution centers with total space of 51,688 thousands sq. ft. in the US, including 33 owned
and seven leased distribution centers.

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Table 6: Target Corp: Annual Financial Ratios
Key Ratios 2014 2015 2016 2017 2018

Growth Ratios
Sales Growth % 1.88 1.61 -4.76 3.48 3.63
Operating Income Growth % -12.28 21.94 -19.67 -7.68 0.22
EBITDA Growth % -7.01 16.19 -16.22 -2.48 0.13
Net Income Growth % -183.00 -18.70 6.58 0.79
EPS Growth % -8.08 18.87 11.51 -3.49 12.71
Working Capital Growth % -256.81 -20.13 -147.61 -28.69 387.30
Equity Ratios
EPS (Earnings per Share) USD 3.86 5.25 4.58 4.66 5.43
Dividend per Share USD 1.90 2.16 2.32 2.44 2.52
Dividend Cover Absolute 2.03 2.43 1.97 1.91 2.15
Book Value per Share USD 21.86 21.52 19.69 21.51 21.82
Profitability Ratios
Gross Margin % 29.39 29.53 30.06 29.69 29.27
Operating Margin % 6.25 7.49 6.32 5.64 5.45
Net Profit Margin % -2.25 4.56 3.89 4.01 3.90
Profit Markup % 41.62 41.90 42.99 42.23 41.38
PBT Margin (Profit Before Tax) % 5.03 6.67 5.64 4.99 4.88
Return on Equity % -11.69 25.96 24.96 25.01 26.00
Return on Capital Employed % 15.41 20.01 17.97 15.05 15.64
Return on Assets % -3.82 8.26 7.04 7.50 7.20
Return on Working Capital % 240.20 366.71
Operating Costs (% of Sales) % 93.75 92.51 93.68 94.36 94.55
Administration Costs (% of Sales) % 20.21 19.88 20.17 20.70 20.74
Liquidity Ratios
Current Ratio Absolute 1.16 1.12 0.94 0.96 0.83
Quick Ratio Absolute 0.46 0.44 0.29 0.30 0.20
Cash Ratio Absolute 0.19 0.32 0.20 0.20 0.10
Leverage Ratios
Debt to Equity Ratio Absolute 0.91 0.98 1.16 0.98 1.00
Net Debt to Equity Absolute 0.86 0.90 1.04 0.92 0.93
Debt to Capital Ratio Absolute 0.48 0.50 0.54 0.49 0.50
Efficiency Ratios
Asset Turnover Absolute 1.69 1.81 1.81 1.87 1.85
Fixed Asset Turnover Absolute 2.77 2.88 2.82 2.85 2.80
Inventory Turnover Absolute 6.19 6.16 5.81 6.05 5.89
Current Asset Turnover Absolute 5.76 5.32 5.38 5.93 6.01
Capital Employed Turnover Absolute 2.47 2.67 2.84 2.67 2.87
Working Capital Turnover Absolute 38.46 48.93
SOURCE: COMPANY FILINGS MARKETLINE

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Table 7: Target Corp: Key Employees
Name Job Title Board

Senior Vice President Financial Planning
Ann Gugino Senior Management
Analysis
Arthur Valdez Chief Supply Chain and Logistics Officer Senior Management
Arthur Valdez Executive Vice President Senior Management
Senior Vice President Stores Human
Brad Taylor-White Senior Management
Resources
Senior Vice President Merchandising
Brett Craig Senior Management
Capabilities
Brian C. Cornell Chairman Executive Board
Brian C. Cornell Chief Executive Officer Executive Board
Calvin Darden Director Non Executive Board
Cara Sylvester Senior Vice President Home Senior Management
Carolyn Sakstrup Senior Vice President Marketing Senior Management
General Merchandise Manager - Essentials,
Christina Hennington Senior Management
Beauty, Hardlines, and Services
Senior Vice President Essentials and Beauty,
Christina Hennington Senior Management
Hardlines, and Services
Corey Haaland Senior Vice President Senior Management
Corey Haaland Treasurer Senior Management
Cynthia Ho Senior Vice President Global Sourcing Senior Management
Senior Vice President Merchandising
David Best Senior Management
Planning, Hardlines and Essentials
Dawn Block Senior Vice President Digital Senior Management
Dmitri L. Stockton Director Non Executive Board
Don H. Liu Chief Legal and Risk Officer Senior Management
Don H. Liu Executive Vice President Senior Management
Don H. Liu Secretary Senior Management
Donald R. Knauss Director Non Executive Board
Douglas M. Baker, Jr. Director Non Executive Board
Senior Vice President Food and Beverage,
Frank Bruni Senior Management
Supply Chain
Senior Vice President Supply Chain
Gemma Kubat Senior Management
Engineering and Activation
George S. Barrett Director Non Executive Board
Senior Vice President Infrastructure and
Hari Govind Senior Management
Operations
Henrique De Castro Director Non Executive Board
Janna A. Potts Chief Stores Officer Senior Management
Janna A. Potts Executive Vice President Senior Management

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Table 8: Target Corp: Key Employees Continued

Senior Vice President Grocery, Fresh Food
Jeff Burt Senior Management
and Beverage
General Merchandise Manager - Apparel and
Jill Sando Senior Management
Accessories and Home
Senior Vice President Apparel and
Jill Sando Senior Management
Accessories and Home
Joe Contrucci Senior Vice President Stores Senior Management
Senior Vice President Global Inventory
John Bauer Senior Management
Management
John J. Mulligan Chief Operating Officer Senior Management
John J. Mulligan Executive Vice President Senior Management
Juan Galarraga Senior Vice President Store Operations Senior Management
Senior Vice President Owned Brand
Julie Guggemos Senior Management
Management and Product Design
Justin Burns Senior Vice President Stores Senior Management
Kamau Witherspoon Senior Vice President Operations Senior Management
Katie Boylan Chief Communications Officer Senior Management
Katie Boylan Senior Vice President Senior Management
Kelly Caruso Chief Executive Officer Shipt Senior Management
Kenneth L. Salazar Director Non Executive Board
Senior Vice President Media and Guest
Kristi Argyilan Senior Management
Engagement
Laysha L. Ward Chief External Engagement Officer Senior Management
Laysha L. Ward Executive Vice President Senior Management
Mark Schindele Senior Vice President Target Properties Senior Management
Mary E. Minnick Director Non Executive Board
Matt Zabel Senior Vice President Enterprise Risk Senior Management
Melanie Healey Director Non Executive Board
Melissa Kremer Chief Human Resources Officer Senior Management
Melissa Kremer Executive Vice President Senior Management
Michael E. McNamara Chief Information Officer Senior Management
Michael E. McNamara Executive Vice President Senior Management
Michael Fiddelke Chief Financial Officer Senior Management
Michael Fiddelke Executive Vice President Senior Management
Michael O’Neil Senior Vice President Pay and Benefits Senior Management
Michelle Mesenburg Senior Vice President Marketing Senior Management

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Minsok Pak Executive Vice President Senior Management
Monica C. Lozano Director Non Executive Board
Nik Nayar Senior Vice President Hardlines Senior Management
Senior Vice President Enterprise Data,
Paritosh Desai Senior Management
Analytics and Business Intelligence
Senior Vice President Supply Chain Field
Preston Mosier Senior Management
Operations
Rich Agostino Chief Information Security Officer Senior Management
Rich Agostino Senior Vice President Senior Management
Rick Gomez Chief Marketing and Digital Officer Senior Management
Rick Gomez Executive Vice President Senior Management
Robert Harrison Chief Accounting Officer Senior Management
Robert Harrison Controller Senior Management
Robert Harrison Senior Vice President Senior Management
Robert L. Edwards Director Non Executive Board
Roxanne S. Austin Director Non Executive Board
Samir Shah Senior Vice President Stores Senior Management
Scott Kennedy President Target Financial and Retail Services Senior Management
Stephanie A. McNamara Executive Vice President Food and Beverage Senior Management
Stephanie A. McNamara President Food and Beverage Senior Management
Tammy Redpath President Target India Senior Management
Senior Vice President Network Planning and
Tim Hotze Senior Management
Global Intelligence
Todd Waterbury Chief Creative Officer Senior Management
Todd Waterbury Senior Vice President Senior Management
William J. Foudy, Jr. President Target Sourcing Services Senior Management
William White Senior Vice President Marketing Senior Management
Yu-Ping Kao Senior Vice President Stores Senior Management

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8.2. Lego AS
Lego A/S (Lego), a subsidiary of KIRKBI A/S, is a privately-held consumer product company, which designs,
manufactures and markets a wide range of toys, and play materials. The company offers creativity development
products, and teaching materials for children. Lego’s products are focused on the concept of learning and
development through play. Its product portfolio includes traditional toys, brick building sets, education products,
robots, video games and online games. The company markets its products under the brand name LEGO. Along with its
subsidiaries, the company has presence across Europe, Americas, Africa, and Asia-pacific. Lego is headquartered in
Billund, Denmark.
8.2.2. Key Facts
Table 11: Lego AS: key facts

Website: www.lego.com
Financial year-end: December
Lego A/S (Lego) is a manufacturer of toys. It carries out design, development, production and marketing of toys and
play materials. The company offers a wide range of learning toys, video games and online games for different age
groups. Its products are commercialized in about 140 countries worldwide. Lego operates through a network of
manufacturing plants in Denmark, Hungary, Czech Republic, Mexico, the US, Germany and the UK.
The company offers products for different age groups covering 1.5 to 11 years. It provides toys and games for
kindergarten toddlers, school children and teenagers and others. It designs products that stimulate the imagination
and the emergence of ideas and creative expression in children. The company sells products under the brand LEGO
and several themes covering pre-school, bricks and more, play themes, licensed products, Mindstorms NXT, Lego
Education.
Lego offers an array of pre-school products for children who have not started attending school. The products are
specially developed to sharpen the capabilities of young children through creative play. The series is graded for
children aged 2-6 years. The company also offers products including bricks and special parts such as windows, wheels,
roof tiles and other items. Along with these products, the company offers free booklets with illustrations.
Lego designs and manufactures play theme products that are built around a story such as a fire station, police, airport,
knights, castle, racers and others. As part of licensed products, the company offers play themes based on movies or
books. The company’s designers recreate the universe and characters in Lego bricks. Some of its popular play theme
products include The Angry Birds, Star Wars and the Batman.
Under Lego Mindstorms NXT, it provides the design and build of real robots, which can be programmed to perform
different operations using software. The company’s LEGO Education products category caters specially to the
educational sector. Lego provides learning solutions based on LEGO brick, curriculum-relevant material, and physical
and digital resources for children at preschool, elementary, middle school, and after school.
The company reached nearly 100 million children through joint activities of LEGO Group, LEGO Education and the
LEGO Foundation. It developed LEGO Learning Institute that focuses on collecting experience and expertise in play,

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learning and creativity as well as generating feedback to the people who design and build the play experiences. It also
offers online games covering action, strategy, adventure, creative and preschool categories. Some of its popular
games include Lego Atlantis, Lego Toy Story, Lego Ben 10, Lego Star Wars, Lego City, Bionicle, and Lego Space Police. It
also operates Legoland parks that comprise kid-powered rides, building challenges, coasters and interactive
attractions.
The company's research and development (R&D) activities focus on the development of new games as well as
enhancement of existing products. Its activities range from trend spotting and anthropological studies to the actual
development of specific products and campaigns. Lego emphasizes on manufacturing products with sustainable and
environmental friendly materials. It operates in collaboration with several education institutions covering various
research projects such as children’s play area and new technologies.

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Table 12: Lego AS: Key Employees

Kjeld Kirk Kristiansen Director Non Executive Board
Carsten Rasmussen Chief Operating Officer Senior Management
Claus Flyger Pejstrup Executive Vice President LEGO Retail Senior Management
Executive Vice President Asia Pacific Market
Eric Maugein Senior Management
Group
Eva Berneke Director Non Executive Board
Jacob Kragh Senior Vice President Senior Management
Jan Nielsen Director Non Executive Board
Jorgen Vig Knudstorp Chairman Executive Board
Julia Goldin Chief Marketing Officer Senior Management
Kare Schultz Director Non Executive Board
Loren I. Shuster Chief People Officer Senior Management
Marjorie Lao Chief Financial Officer Senior Management
Marko Ilincic Senior Vice President Senior Management
Niels B. Christiansen Chief Executive Officer Senior Management
Niels B. Christiansen President Senior Management
Executive Vice President Americas Market
Skip Kodak Senior Management
Group
Soren Thorup Sorensen Director Non Executive Board
Thomas Kirk Kristiansen Deputy Chairman Executive Board
Ulrik Gernow Chief Business Transformation Officer Senior Management
Victor Saeijs Executive Vice President EMEA Market Group Senior Management

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8.3. Hamleys of London Ltd
Hamleys of London Ltd (Hamleys) is a retailer of toys. The company offers dolls, action toys, games, make and create
articles, arts and crafts, traditional toys, fashion dolls, vehicles, soft toys, preschool toys, build it models, magic puzzles
and flying toys, among others. Its services include delivery, gift vouchers, returns and shipping services. Hamleys
markets products under the brands of Harry Potter, Hamleys, Playmobil, Barbie, Lego, Steiff, Hornby, VTech, Thomas
the Tank Engine, Fisher Price and Yoo Hoo. The company also retails products through its website. It retails its
products through a network of stores located in different parts of the globe. Hamleys is headquartered in London, the
UK.
8.3.2. Key Facts
Table 13: Hamleys of London Ltd: key facts
Head office: 2 Fouberts Place Regent Street, London, Greater London, United Kingdom
Website: www.hamleys.com

Global Toys & Games
Industry Profiles
Table 14: Hamleys of London Ltd: Key Employees

Ralph Brander Cunningham Chief Operating Officer Executive Board
Ralph Brander Cunningham Deputy Chief Executive Officer Executive Board
Ralph Brander Cunningham Director Executive Board
Yong Shen Director Non Executive Board

Global Toys & Games
Industry Profiles
8.4. Alibaba Group Holding Limited
Alibaba Group Holding Limited (Alibaba or "the company") is an operator of online and mobile marketplaces in retail
and wholesale trade. The company is involved in logistics services business, retail and wholesale commerce
businesses, and local consumer services business. It also provides cloud services, including elastic computing,
database, storage and content delivery network, large scale computing, security, management and application
services, Internet of Things (IoT), big data analytics and a machine learning platform. It also operates innovation
initiatives and digital media and entertainment business. Alibaba has interest in Ant Financial Services, which operates
Alipay that provides digital payment processing services to online and offline merchants and consumers. It has offices
in China, Singapore, India, the UK and the US. The company is headquartered in Hangzhou, Zhejiang, China.
The company reported revenues of (Renminbi) CNY376,844 million for the fiscal year ended March 2019 (FY2019), an
increase of 50.6% over FY2018. In FY2019, the company’s operating margin was 15.1%, compared to an operating
margin of 27% in FY2018. In FY2019, the company recorded a net margin of 23.2%, compared to a net margin of
25.6% in FY2018.The company reported revenues of CNY114,924 million for the first quarter ended June 2019, an
increase of 22.9% over the previous quarter.
8.4.2. Key Facts
Table 15: Alibaba Group Holding Limited: key facts
Head office: 969 West Wen Yi RoadHangzhou, Zhejiang, China

Website: www.alibabagroup.com
Financial year-end: March
Ticker: BABA
Stock exchange: New York Stock Exchange
Alibaba Group Holding Limited (Alibaba or "the company") is a provider of technology infrastructure and marketing
for merchants, brands and other businesses. The company conducts its business through its subsidiaries.The company
has offices in China, India, Singapore, Japan, Australia, Korea, Germany, the UK and the US.
The company operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment,
and Innovation Initiatives and Others.
The Core Commerce segment comprises of the company’s the logistics services business, retail and wholesale
commerce businesses, and local consumer services business. The retail commerce businesses include China mobile
commerce destination (Taobao Marketplace) and China third-party platform for brands and retailers (Tmall). The
company’s retail commerce businesses includes global marketplace targeting consumers from around the world to
buy directly from manufacturers and distributors in China (AliExpress) and e-commerce platforms in Southeast Asia
(Lazada). Its wholesale commerce businesses include China domestic wholesale marketplace and international online
wholesale marketplace (Alibaba.com). The company’s logistics services business includes a logistics data platform and
a nationwide fulfillment network through Cainiao Network. Its local consumer services business includes the
restaurant and local services guide platform for in-store consumption operated by Koubei and the on-demand delivery
and local services platform operated by Ele.me. In FY2019, the Core Commerce segment reported revenue of
CNY323,400 million, which accounted for 85.8% of the company’s revenue.

Global Toys & Games
Industry Profiles
Under the Cloud Computing segment consists of Alibaba Cloud, a provider of cloud services, including elastic
computing, database, storage and content delivery network, large scale computing, security, management and
application services, Internet of Things (IoT), big data analytics and a machine learning platform. In FY2019, the Cloud
Computing segment reported revenue of CNY24,702 million, which accounted for 6.6% of the company’s total
revenue.
The Digital Media and Entertainment segment serves its customers through two distribution platforms, such as Youku
and UC Browser, and through Alibaba Pictures. It also has other diverse content platforms, which offer online videos,
news feeds, films, literature, music and live events. In FY2019, the Digital Media and Entertainment segment reported
revenue of CNY24,077 million, which accounted for 6.4% of the company’s total revenue.
The Innovation Initiatives and Others segment includes businesses such as Tmall Genie, DingTalk, and Amap. In
FY2019, the Innovation Initiatives and Others segment reported revenue of CNY4,665 million, which accounted for
1.2% of the company’s total revenue.

Global Toys & Games
Industry Profiles
Table 16: Alibaba Group Holding Limited: Annual Financial Ratios
Key Ratios 2015 2016 2017 2018 2019

Growth Ratios
Sales Growth % 45.14 32.73 56.48 58.12 50.58
Operating Income Growth % -8.41 24.14 62.87 47.10 -15.51
EBITDA Growth % -1.24 25.50 63.99 46.28 -9.20
Net Income Growth % 4.06 194.55 -38.88 46.50 36.91
EPS Growth % -1.07 187.99 -37.01 42.56 34.64
Working Capital Growth % 236.42 -19.95 7.69 37.08 -48.28
Equity Ratios
EPS (Earnings per Share) CNY 1.21 3.49 2.12 3.06 4.17
Book Value per Share CNY 7.29 10.96 13.81 17.81 23.78
Gross Margin % 68.72 66.03 62.96 57.55 45.84
Net Profit Margin % 31.84 70.65 27.59 25.57 23.25
Profit Markup % 219.73 194.41 169.97 135.56 84.65
Return on Equity % 16.61 32.88 15.50 17.35 17.55
Return on Assets % 13.22 23.06 10.03 10.46 10.41
Return on Working Capital % 22.18 34.39 52.02 55.81 91.18
Liquidity Ratios
Leverage Ratios
Net Debt to Equity Absolute -0.38 -0.23 -0.18 -0.20 -0.11
Efficiency Ratios
Inventory Turnover Absolute 46.85 31.23
Working Capital Turnover Absolute 0.74 1.23 1.79 2.07 6.02

Global Toys & Games
Industry Profiles
Table 17: Alibaba Group Holding Limited: Key Employees

Borje E. Ekholm Director Non Executive Board
Chee Hwa Tung Director Non Executive Board
Chris Pen-hung Tung Chief Marketing Officer Senior Management
Daniel Yong Zhang Chairman Executive Board
Daniel Yong Zhang Chief Executive Officer Executive Board
Eric Xiandong Jing Director Non Executive Board
Fan Jiang President Taobao and Tmall Senior Management
President Alibaba Digital Media and
Fan Luyuan Senior Management
Entertainment
J. Michael EVANS Director Executive Board
J. Michael EVANS President Executive Board
Jack Yun MA Director Non Executive Board
Jeff Jianfeng Zhang Chief Technology Officer Senior Management
Jeff Jianfeng Zhang President Alibaba Cloud Intelligence Senior Management
Jerry Yang Director Non Executive Board
Jessie Junfang Zheng Chief Platform Governance Officer Senior Management
Jessie Junfang Zheng Chief Risk Officer Senior Management
Joseph C. Tsai Vice Chairman Executive Board
Judy Wenhong Tong Chief People Officer Senior Management
Maggie Wei Wu Chief Financial Officer Senior Management
Masayoshi Son Director Non Executive Board
Sophie Minzhi Wu Chief Customer Officer Senior Management
Timothy A. Steinert General Counsel Senior Management
Timothy A. Steinert Secretary Senior Management
Trudy Shan Dai President Wholesale Marketplaces Senior Management
Walter Teh Ming Kwauk Director Non Executive Board
Wan Ling Martello Director Non Executive Board
Yvonne Yifen Chang President Alimama Senior Management

Global Toys & Games
Industry Profiles
8.5. Amazon.com, Inc.
Amazon.com, Inc. (Amazon or 'the company') is a retailer that offers its products through online and physical stores.
The company offers a range of merchandise, including books, apparel, electronics, home and garden tools, toys and
baby games, sports and outdoor products, automotive and industrial products and other general merchandise
products. It also provides services that includes web services, order fulfillment, publishing, advertising and co-branded
credit cards services. The company manufactures and sells electronic devices, including Kindle e-readers, Fire tablets,
Fire televisions (TVs) and Echo. Amazon markets its products through its website, www.amazon.com. Amazon also
operates through various international websites. It has business presence across North America, Europe and Asia-
Pacific. The company is headquartered in Seattle, Washington, the US.
The company reported revenues of (US Dollars) US$232,887 million for the fiscal year ended December 2018
(FY2018), an increase of 30.9% over FY2017. In FY2018, the company’s operating margin was 5.3%, compared to an
operating margin of 2.3% in FY2017. In FY2018, the company recorded a net margin of 4.3%, compared to a net
margin of 1.7% in FY2017.The company reported revenues of US$63,404.0 million for the second quarter ended June
2019, an increase of 6.2% over the previous quarter.
8.5.2. Key Facts
Table 18: Amazon.com, Inc.: key facts
Head office: 410 Terry Avenue NorthSeattle, Washington, United States

Website: www.amazon.com
Ticker: AMZN
Stock exchange: NASDAQ
Amazon.com, Inc. (Amazon or 'the company') is an online retailer. The company offers a range of products and
services through its physical stores and e-commerce site, amazon.com. . The company offers a range of merchandise,
including books, apparel, home and garden tools, toys and baby games, sports and outdoor products, automotive and
industrial products and other general merchandise products. It also sells electronic devices, such as Fire tablets, Kindle
e-readers, Echo devices and Fire TVs. Moreover, it offers a membership program called Amazon Prime, which provides
customers unlimited free shipping option on over 100 million items, access to unlimited streaming of thousands of
movies and TV episodes, and other benefits. The company also provides advertising services and order fulfillment
services to its consumers.
The company operates through three business segments: North America, International and Amazon Web Services
(AWS).
The North America segment focuses on retail sales of consumer products (including from sellers) and handles
subscriptions through North America-focused online and physical stores. This segment also includes export sales
generated from the online stores. In FY2018, the North America segment reported revenue of US$141,366million,
which accounted for 60.7% of the company's revenue.
The International segment includes the retail sales of consumer products (including from sellers) and subscriptions
from internationally focused online stores. This segment also includes export sales from international online stores

Global Toys & Games
Industry Profiles
(including export sales from their respective sites to customers in the US, Canada and Mexico), but excludes export
sales from North American online stores. In FY2018, the International segment reported revenue of US$65,866
million, which accounted for 28.3% of the company's revenue.
The Amazon Web Services (AWS) segment includes global sales of compute, storage, database, and other AWS service
offerings for start-ups, enterprises, government agencies, and academic institutions. In FY2018, the AWS segment
reported revenue of US$25,655 million, which accounted for 11% of the company's revenue.
Amazon serves four primary customer sets: consumers, sellers, developers and enterprises, and content creators. The
company also develops and produces media content. Amazon fulfills customer orders through its fulfillment centers
and delivery networks that it operates in North America and other foreign countries; co-sourced and outsourced
arrangements in certain countries; and digital delivery. Amazon serves sellers by offering programs that enable them
to sell their products on their websites and also on Amazon's websites. The company earns fixed fees, per-unit activity
fees and interest on such transactions. The company serves developers and enterprises through AWS, which provides
a broad set of global compute, storage, database, and other service offerings. Amazon serves content creators such as
authors and independent publishers through Kindle Direct Publishing, an online platform that allows independent
authors and publishers to select a royalty option and make their books available in the Kindle Store. The company also
offers its own publishing arm, Amazon Publishing. It also offers programs that allow authors, musicians, filmmakers,
application developers, and others to publish and sell content.
Geographically, the company classifies its operations into five regions: the US, Germany, Japan, the UK, and Rest of
the World. In FY2018, the US accounted for 68.8% of the company's revenue, followed by Germany (8.5%), the UK
(6.2%), Japan (5.9%), and Rest of the World (10.5%).

Global Toys & Games
Industry Profiles
Table 19: Amazon.com, Inc.: Annual Financial Ratios
Key Ratios 2015 2016 2017 2018 2019

Growth Ratios
Sales Growth % 20.25 27.08 30.80 30.93 20.45
Operating Income Growth % 1154.49 87.46 -1.91 202.51 17.07
EBITDA Growth % 585.52 81.76 -0.02 188.37 17.14
Net Income Growth % 297.82 27.92 232.11 15.04
EPS Growth % 292.06 -7.08 335.70 15.93
Working Capital Growth % -43.85 8.09 17.76 189.97 27.00
Equity Ratios
EPS (Earnings per Share) USD 1.25 4.90 4.55 19.83 22.99
Book Value per Share USD 28.42 40.43 57.25 88.69 124.62
Gross Margin % 33.04 35.09 37.07 40.25 40.99
Net Profit Margin % 0.56 1.74 1.71 4.33 4.13
Profit Markup % 49.34 54.07 58.90 67.36 69.46
Return on Equity % 4.45 12.29 10.95 23.13 18.67
Return on Assets % 1.00 3.20 2.83 6.85 5.97
Return on Working Capital % 122.83 213.03 177.44 185.11 170.63
Liquidity Ratios
Leverage Ratios
Net Debt to Equity Absolute -0.13 0.06 0.85 0.40 0.25
Efficiency Ratios
Inventory Turnover Absolute 7.73 8.13 8.14 8.38 8.79
Working Capital Turnover Absolute 58.86 69.20 76.87 34.71 32.92

Global Toys & Games
Industry Profiles
Table 20: Amazon.com, Inc.: Key Employees

Andrew R. Jassy Chief Executive Officer Amazon Web Services Senior Management
Brian T. Olsavsky Chief Financial Officer Senior Management
Brian T. Olsavsky Senior Vice President Senior Management
Daniel P. Huttenlocher Director Non Executive Board
David A. Zapolsky General Counsel Senior Management
David A. Zapolsky Secretary Senior Management
David A. Zapolsky Senior Vice President Senior Management
Indra Nooyi Director Non Executive Board
Jamie S. Gorelick Director Non Executive Board
Jeffrey A. Wilke Chief Executive Officer Worldwide Consumer Senior Management
Jeffrey M. Blackburn Senior Vice President Business Development Senior Management
Jeffrey P. Bezos Chairman Executive Board
Jeffrey P. Bezos Chief Executive Officer Executive Board
Jeffrey P. Bezos President Executive Board
Jonathan J. Rubinstein Director Non Executive Board
Judith A. McGrath Director Non Executive Board
Patricia Q. Stonesifer Director Non Executive Board
Rosalind G. Brewer Director Non Executive Board
Business Development Executive, EMEA-
Sahar Baghery Senior Management
Amazon Prime Video
Sameer Batra Director Mobile Business Development Senior Management
Shelley L. Reynolds Controller Senior Management
Shelley L. Reynolds Principal Accounting Officer Senior Management
Shelley L. Reynolds Vice President Senior Management
Thomas O. Ryder Director Non Executive Board
Tom A. Alberg Director Non Executive Board
Wendell P. Weeks Director Non Executive Board

Global Toys & Games
Industry Profiles
8.6. Toys R Us Asia Ltd
Toys"R"Us Asia Ltd (Toys"R"Us) is a retailer of toys, education and baby products. Its product offerings include action
figures and hero play; bikes, scooters and ride-on's; building blocks and plastic construction toys; playing cars, trucks
and trains; craft and activities; dolls and electronics toys; games and puzzles; learning toys; outdoor and sports games;
party accessories; pretend play and costumes; preschool and baby toys; soft toys; and batteries. The company
operates stores in Brunei, China, Japan, Macau, Malaysia, Philippines, Singapore, Taiwan and Thailand. Toys"R"Us is
headquartered in Kowloon, Hong Kong.
8.6.2. Key Facts
Table 21: Toys R Us Asia Ltd: key facts
Website: www.toysrus.com.hk
Financial year-end: April

Global Toys & Games
Industry Profiles
Table 22: Toys R Us Asia Ltd: Key Employees

Andre Javes Chief Executive Officer Senior Management
Andre Javes President Senior Management
Debbie Chin General Manager Asia Senior Management

Global Toys & Games
Industry Profiles
9. Macroeconomic Indicators
9.1. Country data
Table 23: Global exchange rate, 2014–18
Year Exchange rate (€/$)

2014 1.3290
2015 1.1095
2016 1.1068
2017 1.1320
2018 1.1810

Global Toys & Games
Industry Profiles
Appendix
Methodology
MarketLine Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, cross-
checked and presented in a consistent and accessible style.
Review of in-house databases – Created using 250,000+ industry interviews and consumer surveys and supported by
analysis from industry experts using highly complex modeling & forecasting tools, MarketLine’s in-house databases
provide the foundation for all related industry profiles
Preparatory research – We also maintain extensive in-house databases of news, analyst commentary, company
profiles and macroeconomic & demographic information, which enable our researchers to build an accurate market
overview
Definitions – Market definitions are standardized to allow comparison from country to country. The parameters of
each definition are carefully reviewed at the start of the research process to ensure they match the requirements of
both the market and our clients
Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and
trends
MarketLine aggregates and analyzes a number of secondary information sources, including:
- National/Governmental statistics
- International data (official international sources)
- National and International trade associations
- Broker and analyst reports
- Company Annual Reports
- Business information libraries and databases
Modeling & forecasting tools – MarketLine has developed powerful tools that allow quantitative and qualitative data
to be combined with related macroeconomic and demographic drivers to create market models and forecasts, which
can then be refined according to specific competitive, regulatory and demand-related factors
Continuous quality control ensures that our processes and profiles remain focused, accurate and up-to-date

Global Toys & Games
Industry Profiles
9.2. Industry associations
9.2.1. Toy Industries of Europe (TIE)
Rue des Deux Eglises, 20, 1000 Brussels, BEL

Tel.: 32 2 227 53 01
Fax: 32 2 250 00 19
www.tietoy.org
9.2.2. Federation Française des Industries du Jouet-Puériculture
4 Rue de Castellane, 75008 Paris, FRA

Tel.: 33 1 5343 0910
Fax: 33 1 4006 9305
www.fjp.fr
9.2.3. Deutscher Verband der Spielwaren-Industrie e.V. (DVSI)
Heinestr. 169, 70597 Stuttgart, DEU

Tel.: 49 0711 976580
Fax: 49 0711 9765830
www.toy.de
9.2.4. International Council of Toy Industries
1115 Broadway, 4th Floor, New York NY 10010, USA

Tel.: 1 212 675 1141
www.toy-icti.org
9.2.5. The Japan Toy Association
22-4, Higashi-Komagata 4-chome, Sumida-ku, Tokyo, 130-8611, JPN

Tel.: 81 3 3829 2513
www.toys.or.jp
9.3. Related MarketLine research

Global Toys & Games
Industry Profiles
9.3.1. Industry Profile
Toys & Games in Europe

Toys & Games in Asia-Pacific
Toys & Games in the United States
Toys & Games in the United Kingdom
Toys & Games in Japan

Global Toys & Games
Industry Profiles
About MarketLine
In an information-rich world, finding facts you can rely upon isn’t always easy. MarketLine is the solution.
We make it our job to sort through the data and deliver accurate, up-to-date information on companies, industries
and countries across the world. No other business information company comes close to matching our sheer breadth
of coverage.
And unlike many of our competitors, we cut the ‘data padding’ and present information in easy-to-digest formats, so
you can absorb key facts in minutes, not hours.
What we do
Profiling all major companies, industries and geographies, MarketLine is one of the most prolific publishers of business
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Our dedicated research professionals aggregate, analyze, and cross-check facts in line with our strict research
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MarketLine Industry Profile

Global Toys & Games

Reference Code: 0199-0778

Publication Date: January 2020

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1

1.1. Market value

1.2. Market value forecast

1.3. Geography segmentation

1.4. Market rivalry

1.5. Competitive Landscape

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 2

1.1. Market value ................................................................................................................................. 2

1.2. Market value forecast ...................................................................................................................2

1.3. Geography segmentation .............................................................................................................2

1.4. Market rivalry ................................................................................................................................ 2

1.5. Competitive Landscape ................................................................................................................2

2.1. Market definition ........................................................................................................................... 7

2.2. Market analysis ............................................................................................................................ 7

3.1. Market value ................................................................................................................................. 9

4.1. Geography segmentation ...........................................................................................................10

4.2. Market distribution ......................................................................................................................11

5.1. Market value forecast .................................................................................................................12

6. Five Forces Analysis 13

6.1. Summary .................................................................................................................................... 13

6.2. Buyer power ............................................................................................................................... 15

6.3. Supplier power ........................................................................................................................... 17

6.4. New entrants .............................................................................................................................. 19

6.5. Threat of substitutes ...................................................................................................................21

6.6. Degree of rivalry .........................................................................................................................22

7.1. Who are the leading players?.....................................................................................................24

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 3

8.1. Target Corp ................................................................................................................................ 27

8.2. Lego AS...................................................................................................................................... 33

8.3. Hamleys of London Ltd ..............................................................................................................36

8.4. Alibaba Group Holding Limited...................................................................................................38

8.5. Amazon.com, Inc........................................................................................................................42

8.6. Toys R Us Asia Ltd.....................................................................................................................46

9.1. Country data ............................................................................................................................... 48

9.2. Industry associations ..................................................................................................................50

9.3. Related MarketLine research .....................................................................................................50

About MarketLine .................................................................................................................................... 52

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 4

Table 5: Target Corp: key facts 27

Table 6: Target Corp: Annual Financial Ratios 28

Table 7: Target Corp: Key Employees 29

Table 8: Target Corp: Key Employees Continued 30

Table 9: Target Corp: Key Employees Continued 31

Table 10: Target Corp: Key Employees Continued 32

Table 11: Lego AS: key facts 33

Table 12: Lego AS: Key Employees 35

Table 13: Hamleys of London Ltd: key facts 36

Table 14: Hamleys of London Ltd: Key Employees 37

Table 15: Alibaba Group Holding Limited: key facts 38

Table 16: Alibaba Group Holding Limited: Annual Financial Ratios 40

Table 17: Alibaba Group Holding Limited: Key Employees 41

Table 18: Amazon.com, Inc.: key facts 42

Table 19: Amazon.com, Inc.: Annual Financial Ratios 44

Table 20: Amazon.com, Inc.: Key Employees 45

Table 21: Toys R Us Asia Ltd: key facts 46