LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global bikes and ride-ons market for babies and children to grow at a CAGR of more than 8% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global bikes and ride-ons market for babies and children during the period 2016-2020. The report lists manual pedal and push bikes and ride-ons, and battery-operated bikes and ride-ons as the two main segments based on product type.
“The improved standard of living, along with a rise in disposable income among the middle class population, is propelling the demand for bikes and ride-ons for babies and children in the emerging economies in APAC like China, India, and Malaysia. Most developed countries like the US, France, China, and Japan are witnessing a rise in demand for bikes and ride-ons for babies and children from online portals,” says Brijesh Kumar Choubey, a lead analyst at Technavio.
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Technavio consumer and retail analysts highlight the following three factors that are contributing to the growth of the global bikes and ride-ons market for babies and children:
- Selective new and informative buying by consumers as opposed to handing down toys
- Increasing traction of pure play baby product e-tailers
- Growing geographic reach of key retailers in APAC
Selective new and informative buying by consumers as opposed to handing down toys
Some parents find it nostalgic to watch their children play with vintage toys used by them during their childhood. However, some of these toys can pose a threat, as many plastic toys manufactured in the 1970s and 1980s contain toxins like lead, cadmium, and sometimes arsenic. Passing down of toys is more common in Asian countries especially among Indian families, where younger children often receive baby clothes, toys, and accessories passed down from older siblings or even from relative's kids. Some middle class Mexican families also use hand-me down toys as opposed to buying new ones. However, these toys may not qualify as per the safety standards of modern day toys, which are subject to a host of quality checks and standards.
Colors used in these toys also play a significant role contributing to the toxic content of the toy. For instance, yellow toy parts contain a very high concentration of lead and cadmium. Also, non-vinyl toys with green, brown, or orange parts are likely to have high concentrations of lead and cadmium. Parents are becoming aware of such threats and are purchasing toys manufactured as per safety standards, and are also refraining from the use of vintage or old toys, thus contributing to the demand for bikes and ride-ons for babies and children.
Increasing traction of pure play baby product e-tailers
The online business of bikes and ride-ons for babies and children is gaining importance and has been booming mainly because of the emergence of an off-price pricing strategy. The growing number of online shopping websites allow vendors to expand their reach and eventually tap more customers. The online bikes and ride-ons for babies and children sector is also gaining importance as it enables prospective consumers to compare the prices as well as features and make the final deal.
The increase in the number of internet users and the acceptance of the internet as a safe place to make monetary transactions is also fueling the growth of the online market of bikes and ride-ons for babies and children. Target, Toys R Us, Argos, eBay, Sears, Walmart, Halfords, First Cry, Hopscotch, BabyOye, and MyBabyCart are some of the online websites providing bikes and ride-ons for babies and children.
Growing geographic reach of key retailers in APAC
In the developing economies, baby products manufacturers at large are expected to explore the online channel, especially in countries such as India and China, where the prevalence of online shopping is increasing constantly. Consumers in these countries are techno savvy and have opened to the idea of online payment as well. Quick delivery services and competitive pricing are major factors for the growth of the online retailing segment in APAC. Small and local vendors are finding success in enhancing their customer base by making their products available online, and thereby available on a national scale.
With higher disposable income and rising standard of living, consumers in APAC, find it affordable to purchase quality products. They are also attracted to the wide range of products available online. Amazon is one key vendor that operates exclusively through the online channel. Bikes and ride-on products for babies and children are also available on online sites such as target.com, toysrus.com, walmart.com, halfords.com, and related websites. E-commerce vendors like Flipkart and Snapdeal, too, are selling bikes and ride-on products for babies and children in India. “Thus, increased internet penetration and growing consumer trust in online shopping, combined with efficient logistic services, are playing a significant role in the growth of the sector,” says Brijesh.
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