The market for educational toys has grown significantly, particularly online, following the drastic changes to daily life over the last few years. To support this growth in the market and to increase supply chain resilience, we explore the benefits of EDI for STEM toys businesses below.
2020 – the year where many industries almost stopped. Execs were swapping their daily commute with loungewear and WFH desks, leisure activities were off-limits, travel was almost totally out of the question, and most importantly schools and other educational settings (for the most part) were closed.
One year on and several lockdowns later, the aftermath of these drastic changes to the daily functioning of business and people’s daily lives continues to uncover new challenges in the ‘return to normal’. One of these challenges in particular has been around education and the long-term effects on child development.
STEM toys and early childhood
It is generally accepted amongst child psychologists and experts that early childhood is the best time for children to be exposed to STEM (Science, Technology, Engineering, and Mathematics) topics so that they can easily adjust to full-time education.
With educational and socialisation settings being especially limited over the last 18 months, there have been concerns over how this has affected children in their early developmental stages.
This concern amongst childcare experts and parents/caregivers has resulted in a drastic increase in the sale of educational toys, especially STEM toys throughout the course of the pandemic to fill the void of the educational and socialisation settings children would typically be exposed to.
STEM toys: a growing market
On top of this, online markets have also unsurprisingly seen growth in toy sales, during a period where high street stores remained closed and as consumer buying habits continue to shift towards online.
Even with the ease of lockdown restrictions, high streets open, workforces returning to the office, and children back at school, the global educational toy market is still expected to grow substantially over the next few years.
According to leading global technology research company Technavio, this growth equates to $24.30bn between 2020-2024.
“Factors such as the increased emphasis on STEM toys, and the increasing number of investments in the market will have a significant impact on the growth of the learning toys market value during the forecast period,”
– A senior analyst at Technavio.
“Factors such as the increased emphasis on STEM toys, and the increasing number of investments in the market will have a significant impact on the growth of the learning toys market value during the forecast period,”
– A senior analyst at Technavio.
With this sudden change in the market comes ample opportunity for businesses within this industry to take advantage. Those who are able to rapidly adapt to these emerging market trends for educational toys as well as implement a strategy to increase their online revenue, will be more resilient to future industry and economical challenges.
EDI for STEM toys businesses
With this significant growth in the market, as well as the projections of sales expected to continue to grow over the coming years, all businesses with a stake in the STEM toy and game market need to respond appropriately and efficiently in order to capitalise on the potential gains.
This will include an increase in the production of STEM toys to accommodate the increase in consumer demand, which will require:
- A resilient supply chain
- Potentially larger workforces
- Reliable sales channels (online)
In order to efficiently manage all of this rapid change, toy and game companies should examine their current business processes and implement a robust strategy in order to future-proof their business. This is where EDI for STEM toys businesses comes in.
Transalis can provide tailored EDI for STEM toys businesses, depending on their unique needs and what they are wishing to achieve. Whether that is automating and digitising their business processes, connecting with a large retailer such as Argos, or entering the Direct to Consumer (D2C) market with the likes of Amazon.
With the transparently priced bundled solutions from Transalis, implementing EDI for STEM toys businesses is simple and efficient:
eDI Instant
As simple as 1,2,3. Buy EDI online in an instant and connect with your trading partner today
eDI Freedom
Build your own bespoke EDI solution according to your supply chain & integration needs
eDI Connect
Ideal for companies with many trading partners, high order volumes, requiring enhanced stock & sales reporting
eDI Connect+
Perfect for larger organisations requiring complete visibility across their supply chain to improve efficiencies
To discuss EDI for STEM toys businesses and your unique needs and requirements, call us a call on 0845 123 3746 (calling from UK) or +44 1978 369 343 (for international callers), or contact us via email sales@transalis.com to discuss your requirements.
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