Pop Mart's third-level rocket: How does Labubu leverage emotional value to pry open a k-billion market?

Author: Yue Xiaoyu

Why is Labubu from Pop Mart so popular?

First of all, Labubu's design is very unique.

Unlike the sweet image of traditional trendy toys, Labubu's style can be simply described as individualistic and rebellious, which actually satisfies the emotional values of young people.

Consumers see it as an 'emotional container,' gaining a sense of belonging and personal expression through collection, modification, and sharing.

Emotional value is the foundation, and the starting point of a craze is emotion.

Secondly, the blind box mechanism and hunger marketing of PaoPao Mart can stimulate consumers' dopamine-driven buying impulse.

Strict control of production capacity has led to 'one baby hard to find,' with secondary market premiums as high as tens of times (such as Vans' co-branded premium of 1284%), and there are rumors that even Bubble Mart has secondary market manipulators.

I don't know if this is true, but it is true that Pop Mart officially tacitly or indirectly supports scalpers to hoard goods and creates a scarcity illusion.

Third, there is the celebrity effect.

Thai female celebrity Lisa has repeatedly posted Labubu on Instagram, triggering a global craze. Subsequently, European and American celebrities such as Rihanna and Beckham also joined in, greatly increasing the exposure of Labubu.

Pop Mart, through the 'first Southeast Asia, then Europe and America' go-global strategy, combined with precise localization operations to reach various regions, coupled with high-end locations and celebrity endorsements, has shaped a luxury brand image, making Labubu a global trendsetter.

This is exactly the same development model as the previous NFT (called digital collectibles in China) craze.

marketing amplification

Level One: Emotional Ignition

Through unique design and cultural resonance, Labubu ignites consumers' demand for personal expression and emotional sustenance, laying the foundation for a trend.

Level 2: Mechanism Acceleration

Blind boxes, limited releases, and hunger marketing act as "propellers", amplifying market demand through scarcity and speculative psychology, driving up the frenzy in the secondary market.

Level Three: Social Explosion

The celebrity effect and social media dissemination, as the 'igniter', transform Labubu into a global social currency, driving viral spread.

This model has been verified by Pop Mart many times. As early as 2016, Pop Mart launched the first popular Molly series, followed by the Dimoo series in 2018, and now the Labubu series has appeared.

This model is indeed effective and can be reused.