Toy rental company makes it possible for parents to pamper their children without paying through their nose
Toysuperman provides parents a platform to maximize their access to toys, eases financial stress and releases space for a family.
few men have come across their eureka moment while changing nappies and preparing infant formula, but that’s what makes Xu Shu a superman, or, to be more precise, the founder of Toysuperman.
When he had a baby two years ago, the then 31-year-old went through all the ordeals parents undergo, especially trying to keep her amused with the toys she wanted without going bankrupt.
Xu found that Chinese parents were generally spending about 2,000-3,000 yuan ($305-$458) every year on buying toys for their children. It was a no-win situation because despite spending all that money, the toys were often discarded within months or even weeks with the child losing interest and moving on to another new toy.
While most parents accepted this stoically, it gave Xu Shu a brainwave. Why not rent out toys, he thought, and that’s how his online-to-offline toy rental business was born last year.
Toysuperman.com is a site that allows parents to rent toys for their children at a fraction of the price they would have to pay to buy them by using its eponymous phone app. “This way, parents can reduce the amount of money they waste buying toys that become outdated. Renting toys would also mean a house uncluttered by piles of unused toys and therefore, more space,” Xu outlined the advantages. those discarded toys pile up in a corner, just taking up space.
That’s not all. “The price of toys today is no joke,” Xiao told Chinafrica. “Some high-quality toys can cost anything from hundreds to thousands of yuan. The prices of some imported brands such as American Fisher-price are totally scary!”
The Chinese toy market has huge potential. According to a survey by Euromonitor International, the London-based strategic market researcher, retail sales in the Chinese toy market reached 74.4 billion yuan ($11.3 billion) in 2014. The agency estimates the figure will touch 100 billion yuan ($15.2 billion) in 2017.
The number of toy consumers is large and growing. Euromonitor said by 2013, the number of major toy customers who were less than 14 years old was 220 million on the Chinese mainland alone. Besides, with the Chinese Government changing its family planning policy, a family can have a second child now. It means every year, there will be an extra 5 million newborns, who would be potential consumers.
Seeing the vast potential for future development, in March 2016, dozens of investors offered nearly 10 million yuan ($1.52 million) to Toysuperman to support its development.