Sou Hu Cai Jing·2025-10-22 10:19Core Insights - The article highlights the success of Pop Mart as a leading cultural entertainment brand in China, emphasizing its ability to tap into the emotional needs of millennials and Gen Z consumers through innovative IP development and marketing strategies [1][2]. Group 1: Business Overview - Pop Mart was established in 2010 and has expanded its operations to over 80 countries, with more than 450 offline stores and over 2,300 robot stores by the end of 2023 [1]. - The company successfully opened its first overseas park in 2024 and achieved full coverage of provincial-level stores in China [1]. - The LABUBU series saw a global launch in April 2025, with products selling out rapidly in markets like the US and UK [1]. Group 2: Targeting Millennials - Pop Mart effectively targets millennials by focusing on emotional value rather than just product functionality, transforming from a toy brand to a cultural IP operator [2]. - The brand creates narratives around its IPs, allowing products to embody characters with rich backstories, enhancing emotional connections with consumers [2][3]. Group 3: IP Development - The MOLLY IP has evolved from a simple character to a "star IP" with a complex personality, featuring seasonal storylines that engage fans [3]. - Other IPs like PUCKY and SKULL PANDA also have distinct characteristics that appeal to different consumer segments [3]. Group 4: Product Strategy - Pop Mart offers a diverse range of products, from basic blind boxes to high-end limited sculptures, catering to various consumer needs [6]. - The company has a highly responsive supply chain, allowing for rapid product design and production, minimizing inventory issues [6][7]. Group 5: Pricing Strategy - Pop Mart employs a pricing strategy based on "mass appeal + scarcity," with regular blind boxes priced around 59 yuan, appealing to younger consumers [8]. - The LABUBU series saw a price increase of nearly 30% in the US market, yet demand remained strong due to perceived scarcity [9]. Group 6: Marketing and User Engagement - The brand leverages social media platforms like Xiaohongshu, Douyin, and Weibo to enhance brand visibility and engage with consumers through relatable content [11][12]. - User-generated content (UGC) plays a crucial role in building brand loyalty and community, as consumers share their experiences and interactions with the products [14]. Group 7: Experiential Marketing - Pop Mart has established themed stores and pop-up shops in major cities, creating immersive experiences that deepen emotional connections with consumers [17]. - The company integrates online and offline channels, allowing users to preview products online and experience them in-store, enhancing overall engagement [21].