Pop Mart is latest craze among millennials and Gen Zs; here’s why

TRENDY Labubu is often paired with designer bags from Birkin to YSL. In this photo, it’s pairedwith Chanel’s Le Boy.

TRENDY Labubu is often paired with designer bags from Birkin to YSL. In this photo, it’s paired with Chanel’s Le Boy. —CONTRIBUTED PHOTO

Blind unboxing of novelty character items have taken social media by storm. A blind box refers to a carton or container with character products that remain a mystery to the recipient until opened. On the other hand, the process of unwrapping boxes is called blind unboxing, generating suspense and excitement from the recipient of the box and its audience because its content is a mystery.

Even while simply watching online, there remains a shared excitement as viewers and the recipient collectively hold their breath, waiting to see if one lands the much-coveted character item or ends up with something unexpected.

When and where it all began

The popularity of blind boxes is largely attributed to Pop Mart, a Chinese toy company founded in 2010 selling collectible designer toys in blind boxes and now listed on the Hong Kong Stock Exchange. Pop Mart collaborates with various artists and designers, licensing them to create diverse concepts rooted in art, design and fashion. Pop Mart is behind the creation of beloved characters like Molly and Crybaby and raising the popularity of another beloved character, Labubu.

Why Pop Mart fascinates the younger generation

READ: What is a ‘Labubu’ and why does everyone seem to have it?

In an empirical research by Grossman, Herschel I. and Juan Mendoza (2003) titled “Scarcity and Appropriative Competition,” it was widely posited that resource scarcity increases competition for a resource that is scarce. A related research by Bronfenbrenner published in The American Journal of Economics and Sociology titled ‘The Scarcity Hypothesis in Modern Economics’ cites that “artificial scarcity exists because demand has become artificially high. Demand is artificially high because goods are wanted not only for themselves but for “conspicuous consumption” or as “status symbols.”

One example is Labubu, a toothy character created by Kasing Lung and popularized by Pop Mart. Its popularity further soared when BLACKPINK’s Lisa showcased her extensive collection.

By packaging products in identical boxes that conceal rare or hidden characters, referred to as “chase” figures, Pop Mart heightens the anticipation and excitement of the purchasing experience. Scientifically speaking, pleasant surprises trigger the release of positive hormones, reinforcing a favorable association with the brand. This results in repeat purchases as consumers crave for the excitement.

Indeed, Pop Mart has transformed the toy industry for the younger generation through its innovative designs, the collector mindset it nurtures, the thrill of blind unboxing and the vibrant online community. Pop mart continues to adapt to the preferences and behaviors of the younger consumers by leveraging several effective marketing strategies.

The road ahead for Pop Mart

Indeed, Pop Mart has transformed the toy industry for the younger generation, with its innovative designs, the collector mindset it nurtures, the thrill of blind unboxing and the vibrant online community. Pop mart continues to adapt to the preferences and behaviors of the younger consumers by leveraging several effective marketing strategies. —Contributed

Reach the author at catherinadeasis123@gmail.com

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