Sou Hu Cai Jing·2025-08-24 08:56Core Insights - The MOKOKO plush toys from Pop Mart have generated significant pre-sale hype, with prices on secondary markets soaring from the original price of 199 yuan to as high as 799 yuan, indicating a fourfold increase in value [1][4] - The phenomenon of "pre-sale speculation" is driven by a supply-demand imbalance, with scalpers actively promoting their services to secure these limited-edition items for resale at inflated prices [3][7] - Despite the speculative frenzy, Pop Mart's financial performance remains strong, with a reported revenue of 13.84 billion yuan in the first half of 2025, reflecting a year-on-year growth of 204.4% [14] Market Dynamics - The upcoming release of the MOKOKO series and other products has led to a surge in demand, with some items being resold for prices significantly higher than their retail value, such as the blind box series priced at 79 yuan being sold for 200 to 1979 yuan [4][5] - Scalpers are utilizing technology and manpower to secure large quantities of these products upon release, further exacerbating the supply-demand imbalance [8] - Historical precedents, such as the Labubu 3.0 series, demonstrate that speculative prices can collapse when supply increases, as seen when prices dropped from 1500-2800 yuan to 650-800 yuan [10] Consumer Behavior - Many consumers express frustration over the difficulty of purchasing popular items at retail prices, often resorting to secondary markets where prices are inflated [16] - The unique scarcity and collectible nature of blind box toys, combined with social media influence, contribute to speculative behavior in the secondary market [16] - There is a call for rational consumption among consumers, urging them to resist the urge to participate in the speculative frenzy and to wait for prices to stabilize [16]