Bei Jing Qing Nian Bao·2025-07-14 06:31Core Insights - The rise of LABUBU reflects the growing popularity of trendy toys among young consumers, driven by emotional value and the healing economy [1][10] - The phenomenon has led to a surge in counterfeit products, highlighting the strong vitality of Chinese trendy toy IPs and their global influence [1][10] Group 1: Market Dynamics - LABUBU has become a top trendy toy, significantly boosting consumer enthusiasm, with high foot traffic observed in stores like the Pop Mart in Beijing [3][5] - The popularity of LABUBU has resulted in a shortage of genuine products, giving rise to counterfeit versions known as "LAFUFU," which are being actively marketed [5][6] - The market for trendy toys in China is estimated to be worth around 600 billion yuan, accounting for 20% of the global market, with a projected compound annual growth rate of 33% [13][14] Group 2: Intellectual Property Protection - The emergence of counterfeit products has prompted companies like Pop Mart to take defensive measures, such as registering trademarks for "LAFUFU" to protect their IP [6][9] - Pop Mart has registered over 1,500 copyrights and is involved in numerous legal disputes related to trademark and copyright infringements [7][9] - Customs authorities have intensified efforts to combat counterfeit LABUBU products, seizing over 38.67 million items in the first half of the year [9][10] Group 3: Consumer Behavior - LABUBU resonates with consumers aged 18 to 29, fulfilling their emotional and identity needs, as evidenced by personal stories of attachment to the product [10][12] - The design of LABUBU, characterized by its unique and imperfect features, appeals to consumers seeking authenticity and emotional connection [10][12] - The trend reflects a broader shift in consumer preferences towards emotional and spiritual fulfillment rather than mere material satisfaction [12][13] Group 4: Cultural Impact - The success of LABUBU signifies a shift in China's cultural narrative, moving from "Made in China" to "Created in China," showcasing the country's cultural and supply chain advantages [13][14] - LABUBU's global appeal has been recognized, with the character being awarded titles and gaining traction in international markets [13][14] - The growth of the trendy toy industry is indicative of China's rising cultural soft power and the increasing recognition of Chinese stories and designs worldwide [14][16]