Industry News

Toys R Us Set to Reopen in Australia

Less than a year after going into liquidation, Toys R Us is set to reopen in Australia. Babies R Us and Toys R Us, both are owned by Tru Kids Inc, a US based company. Tru Kids Inc announced that it was entering into a licensing agreement with Hobby Warehouse, an Australian company. However, the brand will undergo some changes, with the retailer focusing more on online approach.

By the beginning of 2020, several physical “experience centers” are likely to be opened for children and parents, so that they can still have in-person experience. Babies R Us and Toys R Us will be available online for the Australian customers and for the first time will expand to New Zealand. This online approach will help the brands to mark their presence in Australia as well as New Zealand. Customers can start purchasing products from June 12.

Last year in July, all the 44 stores of Toys R Us were closed across Australia, due to which 700 Australians lost their jobs. Moreover, the company offered discounts of up to 70% to the customers, in a rush to move stock and shut the store. Even fittings and fixtures were sold off by some stores.

Last year in March, Toys R Us in the United States also went into administration.

According to TechSci Research, online focus will help Toys R Us to thrive in New Zealand and Australia, besides helping the company in cutting costs that are associated with opening more physical stores.

 According to a report published by TechSci Research, Australia Baby Toys Market By Product Type (Electronic, Soft, Educational & Others), By Material Type (Cotton, Plastic, Silicon, Foam), By Age (Infant (0-12 Months), Toddlers (1 year - 3 years), Pre-Schoolers (3 years & Above)), By Point of Sale (Exclusive store, Hypermarket/Supermarket, Retail Stores, Online & Others), By Company Forecast & Opportunities, 2024, Australia baby toys market is expected to grow at a robust CAGR over the next five years owing to increasing disposable income and inclination towards better quality games & toys for children. Moreover, manufacturers are using innovative materials in the educational toys production, which are not only just attractive but also less toxic. Additionally, increasing number of day care schools which are using toys for kids’ entertainment and growth, is further driving Australia baby toys market. Furthermore, due to changing consumption patterns and increasing demand for eco-friendly products, the demand for baby toys in Australia is going to boost over the next five years.

According to a report published by TechSci Research, India Baby Toys Market By Product Type, By Material Type ((Cotton, Plastic, Silicon, Foam), By Age ((Infant (0-12 Months), Toddlers (1 year - 3 years), Pre-schoolers (3 years & Above)) Competition Forecast & Opportunities, 2014- 2024, India baby toys market is expected to grow at a decent pace owing to the higher disposable incomes especially in metro and tier-1 cities. Moreover, increasing inclination towards better quality games and toys for children is driving the growth of baby toys market in the country. Furthermore, rising physical presence of international toy manufacturers in the country is also expected to propel the demand for baby toys in the country over the next five years.

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