Small toys sold at convenience stores popular in Korea as toy prices soar

A kid picks up a “Toy Candy” at a convenience store. [Photo provided by Emart24]

Small toys sold at convenience stores are gaining popularity in South Korea as prices of imported toys such as Lego continue to soar, while those sold at stores come in packs, such as SuperThings, to stimulate children’s desire to collect and allow them to buy such toys at an affordable price.

According to local retailer GS Retail Co., small-scale goods, such as key rings and stickers, of characters including Jjanggu, Sanrio and Pokémon, are gaining popularity at its GS25 convenience stores, doubling sales of such products last month from the same period last year.

Character toys at convenience stores are priced between 3,000 won ($2.32) and 8,000 won per piece, making them affordable for families to purchase when visiting the stores with their children. “As convenience stores are recognized as a playground for consumption, especially by children, sales of toys are increasing significantly, centering on character products,” said an official from GS Retail.

“Toy Candy” is also becoming a representative product that drives convenience store sales. According to BGF Retail Co., sales of toy candies such as Kinder Joy at its convenience store chain CUs are rapidly growing, soaring by 78.9 percent between January and May. Last year, toy candy sales more than doubled compared with the previous year, and the market is growing even faster now that school is back in session.

“As kids play with characters in the classroom, competition for collection gradually appears,” said an industry source. “The strategy of making it easy for children to buy character products at affordable prices at nearby convenience stores has worked.”

With the popularity of toy candies, the collection craze is gradually spreading to the Millennials and Generation Z. According to an analysis by CU of toy candy sales by age group last year, those in their 20s accounted for 26.3 percent. Given that the share of consumers in their 40s and above, who are mostly parents, was 27.2 percent during the same period, it is about a similar level. As the economic downturn continues amid higher prices, some analysts note that the MZ generation is enjoying “small happiness” by purchasing character products they enjoyed in their childhood.

Retail companies are expanding their product ranges, believing that convenience stores have emerged as a pillar of consumer culture. Analysts say that if convenience store products have been composed mainly of essential goods that consumers can purchase quickly when they urgently need, products that make them feel the joy of consumption at a small amount of money will drive sales in the future.

“This year, CU introduced a kids and toys menu tab in the home delivery menu of its e-commerce app, Pocket CU,” said an official from BGF Retail. “As the usage rate of contact-free services increases, especially among the MZ generation, we are increasing accessibility through online sales channels.”