“电子木鱼”火上热搜背后：捕捉情绪需求激活老IP

Core Viewpoint - The recent launch of the "PUCKY Knock Knock Series" plush blind box by Pop Mart has gained significant popularity, particularly among young consumers, due to its unique features and emotional resonance [1][5]. Product Performance - The "PUCKY Knock Knock Series" plush blind box, priced at 99 yuan, includes an "electronic wooden fish" function that produces sound when tapped, along with tags like "Happiness +1" and "Wealth +1" [1]. - The product has sold out in several locations, including major shopping centers in Beijing, indicating strong demand [3]. - The secondary market has seen a notable price increase, with the hidden variant "Success" rising from 99 yuan to 396 yuan, a 300% premium, while regular variants have also experienced price increases [5]. Market Strategy - Pop Mart has been actively repurchasing shares, with a total buyback amount nearing 350 million HKD, reflecting confidence in its market position [8]. - The company is adjusting its supply strategy to stabilize secondary market prices, which is seen as a move towards achieving supply-demand balance [8]. - The "PUCKY" IP, created by Hong Kong illustrator Picky in 2018, showcases Pop Mart's ongoing investment in mature IPs for sustained engagement [8]. Industry Challenges - The collectible toy industry is facing increasing competition and rapidly changing consumer preferences, posing challenges for companies to maintain innovation and long-term growth [9]. - Pop Mart's ability to sustain the popularity of its IPs while ensuring steady performance will be a critical challenge moving forward [9].