For years, products stamped with a “Made in China” label have been associated with kitschiness, mass production, and poor quality. However, Claire Carrillo, a digital marketing consultant from the Philippines, has a different perspective on Chinese-branded products. She has bought nearly 100 products from Chinese toy company Pop Mart, traveling distances and waiting in line for hours to get her hands on their plush toys.

This love for Pop Mart is not unique to Carrillo. A search for “Pop Mart” on TikTok yields thousands of hauls and unboxing videos. Fans flock to stores, vending machines, and pop-ups to find sold-out or exclusive products. The company’s recent boom is a result of its ability to understand and capture the emotional spending of young people.

The demand for collectible toys, or “guzi”, has continued to soar in China, with the designer toy industry projected to reach over ¥110 billion in retail sales by 2026. Pop Mart dominates this market, with its unique and innovative designs that resonate with international consumers. The company emphasizes the artists behind its characters and partners with legacy brands to create unique and desirable products. The managers at Pop Mart believe in the power of an experience rather than focusing on the traditional 4P model (Product, Price, Place, Promotion) to create a loyal customer base.

The blind box format of Pop Mart’s toys has contributed to the company’s success. These themed boxes can contain a surprise character, making the unboxing experience a game or gamble. This format fosters a sense of community, with creators and viewers sharing in the anticipation and excitement of the reveal.

In summary, Pop Mart has redefined the concept of luxury for a new generation of consumers, capturing their emotional spending and making “happiness in a box” available to everyone.

Source: https://time.com/7271656/popmart-china-blindbox-labubu-designer-toys-genz-luxury-industry-revenue/