The Impulso Podcast E103: Behind the Labubu craze: PopMart business explained
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Dec 6, 2024 Unbox the allure of blind box collectibles with a dive into the Labubu craze! Discover how Pop Mart's quirky characters have become a sensation among Gen Z, fueled by addictive collecting psychology. Explore the innovative business strategies behind this phenomenon, including successful designer collaborations and exclusive IPs. As Pop Mart aims for Disney-like success, will they forge lasting emotional bonds with their audience, or is it all a fleeting trend? Join the fun and uncover the excitement behind this global toy empire!
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Phyllis' Pop Mart Journey
- Phyllis started collecting Pop Mart's Sony Angels and later got hooked on Labubu due to its "ugly cute" charm.
- She bought Labubu through her friend at a lower price, showing how the craze spread by word of mouth.
Blind Box Addiction Insight
- Pop Mart's blind box model creates addictive consumer behavior by encouraging repeated purchases to complete collections.
- The randomness and series format trigger a 'never-ending, vicious cycle' of buying.
Pop Mart's Financial Success
- Pop Mart's 2023 revenue reached 6.3 billion yuan, signaling massive commercial success.
- Their growth attracted investors despite early skepticism about the business viability.