Alumni Industry Series｜From bricks to business: Leo Choi (MScBA 2018) on the new game plan of the toy market

Toys mean very different things to children and adults. For children, they are gateways to imagination and creativity; for many grown-ups, they are a way of revisiting and reliving childhood memories. Leo Choi (MScBA 2018), now senior channel manager at the LEGO Group, the world-renowned toy brand, has watched the market quietly evolve. And having journeyed from the back office to the frontline of the industry, he is finding himself hands-on in shaping this transformation.

Demand planning: Precision in ordering

When Leo first joined the LEGO Group, he was responsible for demand planning and supply chain management in the Hong Kong market — ensuring shelves were well stocked and supply ran smoothly. “Getting the order volume right is crucial,” he says. “You need to make sure stock is fairly allocated, demand is forecasted accurately, and you avoid pitfalls like excess inventory piling up, or hot items vanishing the moment they hit the shelves, fuelling scalpers.”

Having worked in demand planning across several industries, Leo admits the role has shifted dramatically over the years to become data-driven. “In the past, industry veterans relied on gut instinct based on experience. These days, it is all about data analysis — sales history, inventory turnover, pre-sale reactions — all feeding into the calculations on how much stock to bring in.”

Of all the industries he has worked in, Leo finds toys the trickiest when it comes to demand planning. Unlike skincare or cosmetics, where sales are influenced by seasons and product cycles, or electronics, where demand is driven by performance, toys dance to a different tune. “Toy demand is shaped by scarcity and the pull of intellectual property (IP). Collaborations with big-name brands often carry huge sales potential. But when it comes to brand-new toys without historical data to reference, gauging order volumes can be especially difficult. If the call is wrong, you have to move quickly — either to clear excess stock or to replenish fast-selling items.”

Working in channel management has given Leo a sharper understanding of the growing demand for toys

Channel management – In tune with market shifts

Three years ago, Leo moved from an internal operations role into channel management, shifting from analysing data and coordinating toy supply to diving into the world of demand. In this new role, he works directly with customers , gaining first-hand insight into market reactions and consumer behaviour. His job is to translate brand strategies and sales targets into concrete channel plans, while keeping a close eye on emerging market trends.

This career shift has given him a clearer view of the structural changes in toy consumption. Beyond the traditional children’s market, a growing number of adults are emerging as active collectors. “Many people indulge in what I’d call ‘compensatory consumption’ — buying the sets they couldn’t afford as children, and now, as adults, striving to complete entire collections,” he explains. Toys, in his view, are no longer exclusively for children; their appeal increasingly extends to adults, with collecting, displaying and assembling now becoming powerful new selling points.

The rise of mid-priced toys and blind boxes

Despite today’s sluggish consumer market, Leo notes that the toy industry has remained relatively resilient — with mid-priced toys and blind boxes in particular enjoying growth against the tide. “These products are priced for the mass market and carry an element of surprise, which makes them especially appealing to young people, occasional buyers and collectors alike.” In such a competitive landscape, he believes that success depends on crafting compelling brand stories and distinctive product designs.

While the adult segment is expanding, Leo stresses that the children’s market remains the cornerstone and a vital entry point for the industry. “When children engage with toys directly, that experience can strongly influence whether they develop lasting loyalty to a brand,” he explains. This is why he believes physical stores continue to hold an irreplaceable role: not just as sales channels, but as spaces for interaction, discovery and the sharing of brand stories and values.

Leo laughs that many of his friends assume his job is just “playing with LEGO bricks”, when in fact his daily work is all about staying closely attuned to market demand

Pursuing a master’s degree to expand career possibilities

A few years ago, Leo enrolled in the MSc in Business Analytics at CUHK Business School. Having already built up substantial professional experience, he saw the programme as a way to expand his career horizons and open up new possibilities. “I wanted to strengthen my grasp of data analytics and business logic, and explore whether I could pivot towards roles with a greater emphasis on marketing or strategy,” he reflects.

He laughs that he was never a “numbers person” in the traditional sense, yet the programme taught him how to apply statistical tools and interpret data in real-world contexts. More importantly, it gave him the ability to approach data through a business lens, discerning the value that underpins the numbers. “Many people think data analysis is simply about building dashboards. But the real question is: what do these figures represent, and what do they reveal about the business?”

Leo (first from the left) fondly recalls how the tools he learned in class could be put to immediate use at work the very next day — a genuine case of learning in action (Photo courtesy of the interviewee)

Leo encourages alumni aspiring to enter the toy industry to nurture a genuine passion for the field, staying engaged with market trends even in their leisure time and approaching demand from the consumer’s perspective. In his view, the ability to keep learning and adapt to change is the greatest source of competitive advantage in such a dynamic market.

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