Labubu部分二手价格，跌破官方发售价

Core Viewpoint - The article discusses the significant decline in the resale prices of popular products from Pop Mart due to increased production capacity and large-scale restocking, leading to a shift in consumer purchasing behavior. Group 1: Price Decline of Popular Products - The resale prices of several popular products from Pop Mart have dropped sharply, with some second-hand items falling below their official retail prices [2][4] - For example, the average resale price of the "Frontline High Energy" blind box peaked at 639.3 yuan, representing a 5.5 times premium, but by December 31, it had plummeted to 116.1 yuan, a decrease of 81.8% [2] - Similarly, the hidden version "Ben Wo" saw its average resale price drop from 4522.5 yuan to 569.9 yuan, a decline of 87.4% [2] Group 2: Impact of Restocking on Prices - The "Heart Code" series saw its average resale price peak at 174.9 yuan shortly after release but fell to 97.1 yuan by December 31, only 1.2 times the official price [6] - The "Mokoko" series also experienced a price drop from a peak of 1150.6 yuan to 332.9 yuan, a decrease of 71.1% after restocking [8] Group 3: Changes in Consumer Purchasing Behavior - As the popularity of products waned, purchasing methods shifted from waiting for live-stream restocks to more accessible online and offline sales, allowing consumers to queue in stores for purchases [10] - The increase in production capacity has been significant, with Pop Mart reporting a tenfold increase in plush toy production capacity compared to the previous year, expecting to reach a monthly delivery capability of 50 million units by December [10] Group 4: Stock Performance and Market Sentiment - Following the rise of the Labubu character, Pop Mart's global influence grew, and its stock price peaked at 339.8 HKD per share in late August [12] - However, concerns over the sustainability of growth due to the rapid decline in IP popularity led to a stock price correction, with shares closing at 187.7 HKD, a drop of approximately 44.8% from the peak [12]