POP MART(HK:09992) 凤凰网财经·2025-06-19 13:21Core Viewpoint - The article discusses the recent launch and market dynamics of the Labubu series toys by Pop Mart, highlighting the shift to pre-sale methods and the subsequent impact on pricing and consumer behavior [1][4][5]. Group 1: Product Launch and Sales Strategy - On June 18, Pop Mart launched the Labubu third generation toys through a pre-sale method across multiple platforms, with a single blind box priced at 99 yuan and shipping scheduled for September 22 [1]. - This is the first time Pop Mart has utilized a non-inventory pre-sale approach for Labubu toys, aiming to enhance the shopping experience for regular consumers [4]. Group 2: Market Reaction and Pricing Trends - Following the pre-sale announcement, the resale prices for Labubu toys on second-hand platforms dropped significantly, with some listings as low as 100 yuan, compared to previous prices starting at 250 yuan [2]. - The average transaction price for the "Front High Energy" series of Labubu items fell sharply from 2279.7 yuan to 1181.3 yuan within a day, leading to a surge in trading volume from 66 units to 2531 units [5][8]. Group 3: Consumer Sentiment and Resale Market - Many consumers expressed satisfaction at the decline in prices, particularly enjoying the losses incurred by scalpers [2]. - In the resale market, the price for a complete set of Labubu blind boxes has decreased, with offers ranging from 650 yuan to 800 yuan, indicating a significant drop in demand among scalpers [4]. Group 4: Expansion into Other Markets - The Labubu brand has expanded into the jewelry market, with gold versions of Labubu being sold in Shenzhen, appealing particularly to young consumers [13][15]. - Despite the popularity of Labubu-themed gold jewelry, there are concerns about IP infringement, with reports of unauthorized versions circulating in the market [16].