POP MART(HK:09992) Xin Lang Cai Jing·2026-01-25 18:15Core Insights - The article highlights the rising popularity of trendy toys among young consumers, particularly focusing on the "PUCKY Knock Knock Series" plush blind boxes and the new IP "Star People" [4][5][8] Product Performance - The "PUCKY Knock Knock Series" plush blind boxes, priced at 99 yuan, have become a sensation, being referred to as "electronic wooden fish" due to their fun sound feature that resonates with young people's desire for stress relief and blessings [5][7] - The "Star People" series launched on January 22 sold out within seconds, indicating strong demand and market interest [4][7] Market Dynamics - The classic IP LABUBU has seen a significant price drop, with its secondary market price falling from a peak of over 1478 yuan to around 632 yuan, while some blind box styles have dropped below their original price [7] - In contrast, the new IP "Star People" has quickly gained traction, with its plush blind boxes being resold at prices exceeding 2 times their original price, showcasing the dynamic nature of the collectible toy market [7][8] Consumer Behavior - Young consumers are increasingly drawn to toys that provide emotional value, with purchases driven by a desire for spiritual comfort, aesthetic recognition, and social resonance [8]