
Core Viewpoint - The article discusses the overwhelming popularity of LABUBU, a plush toy from Pop Mart, leading to chaotic scenes at stores and a surge in counterfeit products, highlighting the challenges of supply and demand imbalance in the market [2][4][9]. Group 1: Market Dynamics - LABUBU has become a global phenomenon, with long queues and even violent incidents reported at stores in South Korea and the UK [2][4]. - The demand for LABUBU far exceeds supply, prompting Pop Mart to suspend sales in certain regions due to safety concerns [4][9]. - The popularity of LABUBU has led to various promotional strategies by banks and real estate developers, using it as a marketing tool to attract customers [7]. Group 2: Counterfeit Market - The rise of counterfeit LABUBU products, such as LAFUFU and LABABA, has created a significant market, with many vendors capitalizing on the high demand for the original [8][18]. - Counterfeit LABUBU products are often sold at lower prices, with some vendors reporting high sales volumes despite the obvious differences in quality [22][25]. - The production of counterfeit LABUBU is widespread, with many manufacturers capable of producing high-quality replicas that can easily confuse consumers [34][36]. Group 3: Legal and Regulatory Challenges - The proliferation of counterfeit LABUBU poses legal risks, as many infringe on copyright and trademark laws, leading to potential legal actions against sellers [41][42]. - Authorities in various regions, including Yiwu and Shenzhen, are cracking down on the sale of counterfeit LABUBU, but the demand continues to sustain the market [46][47]. - Despite efforts to combat counterfeiting, the existence of a robust demand makes it difficult to eliminate counterfeit LABUBU from the market entirely [48]. Group 4: Consumer Behavior and Market Perception - The perception of LABUBU as a luxury item has created a secondary market where prices can significantly exceed the original retail price, with some items selling for over 3000 yuan [24][22]. - The allure of LABUBU, despite its lack of a backstory, has made it a desirable item, leading to a speculative market similar to stocks [55][56]. - The presence of counterfeit products has paradoxically kept the brand in the public eye, maintaining interest in the original LABUBU [54].