The billion dollar toy industry shows off in New York City

Global Business

The New York Toy Fair really brought out the numbers this year as over a thousand exhibitors showed off more than 150,000 new toys to the more than 30,000 people who showed up to see. CCTV’s Karina Huber was there in New York City and filed this report.

The billion dollar toy industry shows off in New York City

The billion dollar toy industry shows off in New York City

The New York Toy Fair really brought out the numbers this year as over a thousand exhibitors showed off more than 150,000 new toys to the more than 30,000 people who showed up to see. CCTV's Karina Huber was there in New York City and filed this report.

As the thousands caught a glimpse of the newest in toys like robotic dinosaurs that chase balls and drones buzzing over head, a rainbow of colors has the kids fascinated. The show is meant to be a wonderland for everyone from infants to teens and adults.

“As you walk the aisles, you’ll see lots of wearables and physical toys that are really, highly interacting with apps.” Jackie Retzer, a Toy Industry Association trend specialist said.

The toy industry is still worth more than 80 billion globally, and the fastest growing segment of that is youth electronics. That’s not the only exciting segment of the toy industry that’s doing well. Experts point out another area that’ll make parents happy.

“Toy buyers are seeing that toys are really the tools of play and it’s necessary for children’s development. So all different categories are trying to incorporate science, technology, engineering, arts in math in what they’re doing and doing it in a fun way. So kids enjoy what they’re learning.” Retzer says.

While outdoor and sports toys remain the biggest segment of the toy market, judging by the latest trends, the toys of tomorrow are bound to be tied to technology.

Even with that said, a Hong Kong-based toy company is reaping huge profits and gaining popularity selling high-end action figures costing several hundred to several thousand dollars. Hot Toys, the maker of what many consider to be the highest quality action figures money can buy, proves there is money to be made in a niche market dominated by Asian creators. Cathy Yang filed this report from Hong Kong.

High end action figures in Hong Kong

High end action figures in Hong Kong

Even with that said, a Hong Kong-based toy company is reaping huge profits and gaining popularity selling high-end action figures costing several hundred to several thousand dollars. Hot Toys, the maker of what many consider to be the highest quality action figures money can buy, proves there is money to be made in a niche market dominated by Asian creators. Cathy Yang filed this report from Hong Kong.


Ken Seiter – VP of Marketing Communications, Toy Industry Association

Toy trends are important in this billion dollar global industry. Ken Seiter, the vice president of marketing communications for the Toy Industry Association spoke with CCTV America’s Michelle Makori.

Ken Seiter - VP of Marketing Communications, Toy Industry Association

Ken Seiter - VP of Marketing Communications, Toy Industry Association

Toy trends are important in this billion dollar global industry. Ken Seiter, the vice president of marketing communications for the Toy Industry Association spoke with CCTV America's Michelle Makori.