Gifts / Sports & Toys

On September 28, the Lego Group announced its financial report for the first half of the year.

The report shows that in the first half of the year, the Lego Group achieved a revenue of 27 billion Danish kroner, or about 25.06 billion yuan, a year-on-year increase of 17%, of which retail sales increased by 13%, leading the growth rate of the entire toy industry.

In this year's 6.18 e-commerce promotion, the sales of the LEGO Taobao flagship store were also very gratifying. The McLaren Senna GTR racing car, which sold for 499 yuan per item, sold nearly 1,000 pieces and became the well-deserved monthly sales champion.

Under the weak consumption brought about by the epidemic, it is not easy for Lego, which is "not cheap", to produce such a beautiful transcript.

In the era of increasingly serious homogenization competition, LEGO uses creativity and imagination to construct a different "play world" for the majority of users, forming the core competitiveness of the brand, and laying the foundation for the future development of Chinese local toy brands. provides important lessons.

The highest increase is 25%, and there are countless buyers

According to Huacheng Import and Export Data Observation report, in the first half of this year, LEGO accelerated the expansion of its global retail network and opened 66 new branded retail stores. Among these 66 stores, 46 Located in China, accounting for nearly 70%! At present, the number of Lego stores in China has exceeded 360. Not only that, Lego also revealed that the overall number of stores planned to open in the Chinese market this year is 80! This shows LEGO's focus and firm confidence in the Chinese market.

Lego's confidence is not without reason. In 2021, the revenue generated by Lego in the Chinese market is nearly 16 times that of the 14 Chinese toy peers combined.

Not only that, after Lego announced a price increase this year, its popularity has remained undiminished, and even the phenomenon of “the more expensive it is, the more selling it” has appeared. In July this year, Lego announced a global price increase, and the Chinese market will start raising prices on August 1. Lego said that the price increase is due to the increase in costs caused by the current increase in energy, logistics, raw material prices and other factors.

Through comparison, it is found that Lego’s price increase this time covers many categories, including many Internet celebrity items and sets, with an increase of between 5% and 25%. You must know that Lego is a toy brand that is positioned in the mid-to-high-end market, and the unit price per customer is at a high level in the industry. This general adjustment has brought the product price to a higher position, and the price adjustment range has obviously exceeded the rigid cost increase. , is likely to lead to consumer dissatisfaction.

Just when everyone predicted that this price adjustment would have an impact on Lego sales, the market gave Lego enthusiastic feedback. Since the news of the price increase was announced, it seems that the "stocking" switch of LEGO diehard fans has been triggered at once, opening the "buy, buy, buy" mode. In the first month of the implementation of the price increase, Lego's official flagship store on Taobao not only did not experience a decline in store sales, but increased significantly compared to July.

Judging from the results, Lego's price increase not only did not bring about a decrease in sales, but set off a small climax of panic buying and stockpiling. It can be said that Lego has further consolidated its position in the hearts of fans through price increases. Once again It shows its charm and its strong ability to attract gold, Huacheng Import and Export Data Observation and Report.

Have fun and earn happiness

LEGO's brand name "LEGO" is derived from the combination of the Danish "Leg Godt", which means "have fun".

After 90 years of building the brand, LEGO has always implemented this spirit to the end. Through in-depth research on consumer preferences, LEGO insists on introducing the most popular elements, new trends, or nostalgia into toys, and is committed to bringing consumers a better play experience.

LEGO has built a high-barrier splicing system for itself. Its splicing method and final appearance have always been a technological wall that LEGO itself is difficult to break. Thanks to the high-precision manufacturing process, the error of each Lego building block is maintained within 0.001mm, which is the expectation of most domestic building block brands. In addition, LEGO has more than a thousand shape patents.

In the development of building blocks, LEGO attaches great importance to breakthroughs and innovations. Cross-border cooperation with other brands is an important method adopted by LEGO, and facts have proved that this path is correct.

The LEGO Group places great emphasis on collaborating with brands to push the boundaries and inspire sufficiently innovative ideas. We can clearly see that most of LEGO's best-selling and most-discussed sets are related to popular movies: Harry Potter 20 commemorative sets, Ninjago's 10th anniversary classic, and a tribute to the Wizarding World. All of these show the profound internal strength of LEGO to play IP, and it is the well-deserved originator of toy IP development, Huacheng Import and Export Data Observation Report.

In this way, LEGO has become the most successful representative of "brand as category". As long as you think of building blocks, the word "LEGO" will instinctively appear in everyone's mind. LEGO has created a dual creative world of entity and imagination, satisfying Infinite possibilities of hands-on ability and creative ideas. Lego, which makes people happy, has also realized that they can make themselves happy.

        What is the difference between domestic building blocks and Lego?

Comparing LEGO's strong ability to attract money in the global market, many people expressed their dissatisfaction with the local building block industry in China. On the one hand, even if Lego raises the price significantly, it still does not reduce the enthusiasm of consumers to buy, and people are willing to pay for it. , in the creation of brand culture and IP content, the construction of differentiated competitive advantages has not yet been completed.

Behind LEGO's rapid expansion and development and strong ability to attract money, is its deep insight into the play culture and the meticulous creation of the play system. In the 2022 LEGO Play Report released by the LEGO Group, LEGO conducted a follow-up survey of more than 55,000 parents and children in more than 30 countries and regions. The survey results show that the vast majority of parents believe that children are enhanced through play. Improve your creativity, expressiveness, problem-solving skills, and improve your self-confidence.

In the 90 years of LEGO Group's development, countless children have benefited from the "play philosophy" created and established by LEGO, exploring more quality of life in the very interesting play, discovering the connection between things and gaining understanding A powerful tool for the world.

LEGO provides children and even adult users, not just a toy, but also a sense of value creation and acquisition in the process of playing, which is precisely what the domestic building block brands lack and have always ignored. It is only a matter of time before the technology catches up, but the shaping of brand culture and the infiltration and guidance of consumers are long-term efforts.

According to Huacheng Import and Export Data Observation report, in recent years, with the increasing maturity of manufacturing technology and process and the reserve and application of professional talents, domestic building block manufacturers are also accelerating their transformation and development. Through supply chain optimization, process optimization and original design, etc. Taking multiple measures simultaneously, the company has gradually shifted from the past OEM to the construction of its own brand, gradually forming a strength accumulation, and a group of domestic building block players such as Senbao, Pinqi, and Keeppley have emerged, grabbing China market share.

We have seen that domestic building block brands are trying their best to bridge the technical differences with overseas brands represented by LEGO, and attract consumers with more sincere prices and traditional Chinese brand IP cultural and creative, but in the overall cultural world and system shaping Still out of reach.

Face up to the gap and then cross the gap. We look forward to the future. China's domestic building blocks will no longer appear in the position of "replacement", but will be able to capture consumers' minds and reshape the cultural concept of finer workmanship, more warmth and in-depth brand. The domestic building block market structure, Huacheng import and export data observation report.