Labubu在美国涨价，泡泡玛特凭什么？

Core Viewpoint - The article discusses the successful expansion of Pop Mart's IP "labubu" into the U.S. market, highlighting significant sales growth and price adjustments that have not deterred consumer interest [4][7][8]. Group 1: Market Performance - Pop Mart's "labubu" IP generated over 3 billion yuan in revenue last year, with U.S. sales in Q1 2025 surpassing the total sales of the previous year [4]. - The company's overseas business revenue increased by 475% year-on-year, with the Americas market experiencing an astonishing growth rate of 895%-900% [8]. - The launch of the third-generation "labubu" plush toy led to long queues in stores across major cities, indicating strong consumer demand [5][7]. Group 2: Pricing Strategy - Pop Mart raised the price of "labubu" products in the U.S. by approximately 30%, from $21.99 to $27.99, while other new products also saw price increases [5][6]. - Despite the price hikes, consumer purchasing intent remained strong, with many willing to pay more due to the perceived scarcity and emotional value of the products [7][8]. - The company is cautious about pricing strategies, recognizing that excessive price increases could lead consumers to seek cheaper alternatives [9][10]. Group 3: Consumer Behavior - The article notes a shift in consumer behavior towards emotional and small-scale purchases, driven by economic conditions and societal changes [8][9]. - While new consumers are entering the market, there are concerns that some may not remain loyal after initial purchases [7][9]. - The "lipstick effect" suggests that during economic downturns, consumers may reduce larger expenditures but increase spending on smaller, emotionally-driven items [8]. Group 4: Competitive Landscape - Pop Mart views all emotional products as competitors, indicating a need for careful management of brand perception and pricing [9]. - The company is currently in a favorable position in overseas markets, with consumers willing to pay a premium for its products [11]. - The article warns that without continuous innovation and new product development, Pop Mart risks losing market momentum, similar to challenges faced by other brands like Nike [11][13].