第一批用Labubu理财的年轻人，已经后悔了

Core Insights - The article discusses the rise and fall of Labubu, a collectible toy that has gained immense popularity and is seen as a cultural phenomenon among young consumers [4][10][25] - It highlights the speculative nature of the market surrounding Labubu, where initial high prices have led to significant declines, indicating a potential bubble [11][12][35] Group 1: Market Dynamics - Labubu's price surged due to its unique social attributes and viral marketing, but after a week of release, prices began to drop significantly, with ordinary versions selling between 79-120 yuan and some hidden versions dropping below 500 yuan [10][11] - The third-generation hidden version "Ben Wo" saw a price drop from 4523 yuan to 809 yuan, a decline of over 80% [11] - The speculative frenzy around Labubu has led to a market correction, with prices reflecting a return to more sustainable levels [12][35] Group 2: Consumer Behavior - Young consumers initially viewed Labubu as a form of emotional expression and companionship, but the market has shifted towards viewing it as an investment opportunity [27][31] - The trend of renting Labubu for social status has emerged, with celebrities and influencers driving its popularity [23] - The average consumer spending on collectible toys has decreased by 12% year-on-year, indicating a shift from investment to immediate experience [47] Group 3: Company Strategy - The company behind Labubu, Pop Mart, has seen explosive growth, with revenue from the Labubu series increasing by 668% year-on-year, but this has masked a lack of innovation in other IPs [47] - Pop Mart is adjusting its strategy to address market volatility by expanding its IP portfolio and enhancing consumer engagement through new products and experiences [49][51] - The company is also focusing on regional differentiation in its global strategy, adapting products to local markets and enhancing brand value through collaborations [51]