Qian Zhan Wang·2025-09-11 08:28Core Viewpoint - The article discusses the supply situation of IPs in the trendy blind box market, highlighting three main sources of IPs: classic famous animation characters, current blockbuster film and animation characters, and original characters created by artists [2][12]. IP Supply - The three sources of IPs have distinct advantages: classic IPs rely on cultural accumulation, blockbuster IPs leverage content popularity, and original IPs thrive on design innovation [2][12]. - Companies like Pop Mart utilize a "self-owned IP + co-branding" strategy for revenue diversification, while 52TOYS focuses on authorized IPs to solidify its niche market [2][12]. Raw Material Supply - The raw material supply for trendy blind boxes is categorized into basic materials, special materials, and auxiliary materials, with a market characterized by dispersed basic materials and concentrated high-end materials [5][7]. - Major brands, such as Pop Mart, establish deep ties with core suppliers to create competitive advantages, while smaller players benefit from industrial clusters in regions like Dongguan to reduce costs [5]. Production Supply - China has a vast toy manufacturing industry with over 70,000 toy manufacturers, providing a solid supply chain for trendy blind boxes [8]. - The ability of manufacturers to quickly respond to market demands through flexible production capabilities helps lower costs and ensures stable product supply [8][12]. Sales Channel Supply - The sales channels for trendy blind boxes are characterized by a multi-channel integration, driven by IPs, policy regulation, and technological innovation [9][12]. - Pop Mart's strategy includes a combination of online and offline sales, with plans to expand its physical stores and robot stores significantly by 2025 [11]. - Innovative sales tactics, such as pop-up stores and limited-time offers, have proven effective in driving consumer demand and enhancing sales [11].