泡 泡 玛 特 旗 下 IP Labubu 以 黑 马 之 姿 席 卷 潮 玩 市 场 ， 2024 年 营 收 暴 增 726.6% ， 占 公 司 总 营 收 23.3%。消费者抢购Labubu甚至引发门店冲突、二手市场溢价数倍。外界不禁质疑：泡泡玛特确实 在努力扩产，还是在有意控制产量以维持稀缺性？ 泡泡玛特的烦恼 今年以来，泡泡玛特旗下IP Labubu一直供不应求。为了这个大眼睛、露牙齿的小精灵们，消费者们 彻夜排队购买、斥巨资溢价收购二手产品。Labubu的火爆让泡泡玛特体会到了当顶流的滋味，但随 之而来的烦恼也开始了。 由于太过热销，Labubu甚至是其他产品线的商品陆续出现了缺货、延迟交货等。近日，在社交平台 上有消费者表示，此前在泡泡玛特官方渠道购买的潮玩产品，未能如订单所显示的最晚发货时间进行 发货。第一财经记者注意到，本次泡泡玛特延迟发货涉及多个系列的产品。不仅仅是热门的THE MONSTERS（包含Labubu）系列，SKULLPANDA等系列也有出现类似情况。针对这一问题，泡 泡玛特公告称，抽盒机小程序公告显示，由于近期订单量激增，部分订单未能及时发货。当前该品牌 正在紧急发货中，预 ...

【#泡泡玛特为何供给总是跟不上#】#泡泡玛特相关负责人回应产能不足# 泡泡玛特正站在"十字路 口"。泡泡玛特旗下IP Labubu以黑马之姿席卷潮玩市场，2024年营收暴增726.6%，占公司总营收 23.3%。消费者抢购Labubu甚至引发门店冲突、二手市场溢价数倍。外界不禁质疑：泡泡玛特确实在努 力扩产，还是在有意控制产量以维持稀缺性？ 广东某消费品制造企业老板向第一财经记者表示，从生产能力来看，国内不少工厂完全具备大规模生产 Labubu的条件。只要品牌方有足够订单需求，工厂能够迅速扩大产能，满足市场供应。然而，泡泡玛 特却并未这样做，反而让市场持续处于供不应求状态，有故意控制产量之嫌，疑似通过"饥饿营销"手段 提升产品热度和话题性，进一步巩固品牌在市场中的地位。 针对近期外部热议的产能不足一事，泡泡玛特相关负责人告诉一财记者，"目前最核心的是需求远超产 能预期，这种失衡并非单一事件，而是连续发生的预测偏差——每当我们以为'这应该是天花板了'，市 场总能刷新预期。这种需求'指数级增长'让原本线性变化的供应链体系难以承载。" 第一财经记者了解，为了应对这一挑战，泡泡玛特已经积极采取措施，全面扩大产能，并考 ...

泡泡玛特的烦恼 今年以来，泡泡玛特旗下IP Labubu一直供不应求。为了这个大眼睛、露牙齿的小精灵们，消费者们彻夜排队购买、斥巨资溢价收购二手产品。Labubu的火 爆让泡泡玛特体会到了当顶流的滋味，但随之而来的烦恼也开始了。 由于太过热销，Labubu甚至是其他产品线的商品陆续出现了缺货、延迟交货等。近日，在社交平台上有消费者表示，此前在泡泡玛特官方渠道购买的潮玩 产品，未能如订单所显示的最晚发货时间进行发货。第一财经记者注意到，本次泡泡玛特延迟发货涉及多个系列的产品。不仅仅是热门的THE MONSTERS （包含Labubu）系列，SKULLPANDA等系列也有出现类似情况。针对这一问题，泡泡玛特公告称，抽盒机小程序公告显示，由于近期订单量激增，部分订 单未能及时发货。当前该品牌正在紧急发货中，预计将在7天左右发出。 业内有声音认为，泡泡玛特或许深谙"饥饿营销"之道。 一位玩具行业人士对第一财经分析称，泡泡玛特对于IP的发展规律有一定的经验，不少IP的受欢迎程度会在短期增长后回归平稳，都会经历过"爆红-溢价-退 热"的周期。如果短期内专门开模、扩产线，长远来说不利于成本的控制。 东莞一家玩具工厂相关人士 ...

你有没有觉得，这些年的网红层出不穷，画风越来越难以预测？ 曾经，记忆中的烘焙，是这样子的： 现在的烘焙变成了馅料满溢，不停膨胀，看上去已经要溢出屏幕的样子了。 ▲ 小 红书截图 | 侵删 各种流行元素，让产品的名称变得越来越长，看上去像是一个网红关键词大全…… 网红越来越多，价格也也没得越来越贵，有些网红店铺，还需要消费者排队、等待、限购等各种苛刻的规则。 自上世纪8 0年代起，烘焙业开始在大陆地区崭露头角。以现在的审美眼光来看，这个时期的烘焙食品 堪称"朴素" 。 在大街小巷中，夫妻老婆店比比皆是，两人携手打造出一片小天地，而 蜂蜜蛋糕、小面包 等是当时的美味佳肴。 随着9 0年代的到来，好利来引领了第一批连锁店铺的崛起。 克莉丝汀、可颂坊、味多美等连锁品牌如雨后春笋般在各地开设分店。 然而 ， 店内所售的产品大体相同 ， 无论是吐司、蛋挞、麦芬还是蛋糕卷，都给人一种似曾相识的感觉，还算不上网红。 我们的烘焙怎么了？这种多b u ff叠加的网红烘焙，变得更美味了吗？ 今天，我们就来聊聊网红烘焙的进化史， 看烘焙是如何一步步变成今天的模样？ 让小编第一个想到的网红款，那一定是 徹思叔叔， 我曾经也是排队的一员 ...

Price Change Trends - The official price range for Wakuku dolls is between 69 yuan and 129 yuan, with the "leopard hat little devil" doll experiencing a secondary market premium of approximately 10%-25% after frequent exposure, leading to actual transaction prices between 140 yuan and 160 yuan for a doll originally priced at 129 yuan [1] - The limited edition "leopard hat" doll by Yu Shuxin saw prices soar to over 3000 yuan in the secondary market before restocking, representing a more than 30-fold increase from its original price of 99 yuan, and after restocking, prices fell to the 400-600 yuan range, still reflecting a 4-6 times premium [1] - The limited edition blind box collaboration with Wang Yibo sold out within 48 hours, with a secondary market premium reaching 300%, where the original price of 199 yuan was sold for around 800 yuan [2] Special Channel Limited Editions - The "Fat Dada XXL Doll" launched at MINISO's Beijing flagship store sold out within 2 hours, resulting in a 90.3% increase in store sales, with scalper prices doubling compared to the original price [2] Sales Performance Driven by Celebrity Influence - The "Fox and Rabbit" series in Shanghai, promoted by Yu Shuxin and Ding Yuxi, achieved record-breaking single-day sales, with secondary market premiums ranging from 150% to 200% [3] - Yu Shuxin has gifted the Wakuku dolls to over 10 public figures, which has significantly increased visibility and triggered a stockout phenomenon, as evidenced by her leopard hat design receiving over a million likes [4] Pricing Strategy and Market Dynamics - The brand employs a "limited release + channel exclusivity" strategy, creating artificial scarcity, as seen with the need for customers to queue for hours at pop-up stores, which further drives up premiums [6] - The presence of counterfeit versions priced at 39 yuan has inadvertently enhanced the value of the authentic products, as some consumers prefer the higher-priced genuine items for their association with celebrity endorsements [7]

这背后反映的不仅仅是市场供需失衡，更揭示了发行方在满足集邮者需求方面的缺失。 新邮打折引发的背后忧虑 近来，新邮市场的低迷已不再是个秘密。 尽管新发行的邮票大打打折，市场却依旧冷清，许多集邮爱好者早已失去购买新邮的兴趣。然而，这并不意味着集邮圈就此沉寂。 事实上，圈内的交易活动仍然活跃，只不过人们的关注点已悄然转向了"邮品加工"而非单纯的邮票。 打折是否真能刺激需求，还是反而暴露了新邮市场的深层次问题？ 新邮一经发行便大幅降价，尽管发行方自信满满地认为这是"吸引更多收藏者"的策略，但从实际效果来看，这一策略并未产生预期的市场热 度，反而暴露了市场供过于求的现实。 许多集邮爱好者并不看好"裸票"，而是将眼光投向了"二次创作"的邮品。 这种市场现象，反映了集邮爱好者的收藏需求发生了转变，他们不再满足于简单的邮票，而是对经过加工和邮路洗礼的邮品情有独钟。 "饥饿营销"究竟能否长期奏效？ 发行方将新邮的供应限制在一个相对较低的量上，推行所谓的"饥饿营销"策略，以此提升邮品的稀缺性和价值。 这种操作能否有效提振市场需求，仍然是个大问号。 对于热衷集邮的群体来说，短期内的限量发售或许会引发他们的购买欲望，但长期来看，这种 ...

2025.06. 27 三波营销热浪 第一波营销热浪，出现在小米集团董事长雷军上台介绍小米YU7时。多位小米汽车销售向到场观看直播的 消费者表示："小米YU7只有3万辆准现车，10点钟开抢，店里信号慢，大家可以到室外用5G网络下定， 晚了就没有现车了，要排队等排产。" 随后，雷军介绍小米YU7的智能化卖点、与Model Y对比点时，消费者反应平平。 第二波营销热浪，在小米YU7售价正式发布后，现场销售带头高呼"绝了""赢了"，煽动着消费者购买情 绪。 几乎同一时间，店内几十名销售立刻行动，人均手持2台手机，走进走出打电话、发语音，引导消费者下 定，"早下定早排产"等固定销售话术频出。甚至有一名销售经理举着麦克风，高声告知到场消费者下定流 程。 本文字数：1447，阅读时长大约3分钟 作者 | 第一财经 黄琳 6月26日晚间，就在小米发布会举行之时，第一财经记者走访小米4S店发现，YU7销售上演"狂热营 销"怪像：销售多次带头高呼，甚至拿着麦克风强调"晚了就没有车了""早下定早排产"等，试图煽动消费 者购买情绪。 尽管小米公布的YU7大定数据吸睛，但仍有业内人士质疑，"饥饿营销"会否带来负面影响。 多地已现YU ...

Core Insights - Xiaomi's marketing strategy for the YU7 vehicle has generated significant consumer interest, with over 200,000 pre-orders within three minutes of the launch event [1] - The company employs a "hunger marketing" approach, creating urgency among consumers by emphasizing limited availability and the need to act quickly to secure a vehicle [2][4] - Despite the initial excitement, there are concerns regarding the sustainability of this marketing tactic and its potential negative impact on customer satisfaction [5][9] Marketing Strategy - The first wave of marketing was initiated by Xiaomi's chairman, Lei Jun, who highlighted the limited availability of 30,000 vehicles, urging consumers to place orders quickly [2] - Following the price announcement, sales staff actively encouraged consumers to place orders, using phrases like "early orders lead to early production" to stimulate demand [4] - The final wave involved promoting test drives, with sales representatives indicating that priority would be given to customers who had already placed orders [4] Consumer Reactions - Some consumers expressed reluctance to place orders without first test-driving the vehicle, citing safety concerns based on previous incidents with Xiaomi's SU7 model [5] - Reports indicate that there are already instances of YU7 orders being resold on second-hand platforms, raising questions about the actual end-users of the vehicles [6] Order Management - Industry insiders noted that the number of pre-orders does not equate to actual sales, as consumers can modify their vehicle configurations within a week of placing a deposit [8] - Xiaomi has implemented a more cautious approach compared to previous launches, ensuring that customers are aware of the non-refundable nature of deposits after a certain period [8] Market Dynamics - The introduction of technology companies into the automotive sector has brought internet-based marketing strategies, such as "hunger marketing," into play, which can lead to both increased product awareness and potential negative consumer experiences [9]

Core Insights - The article discusses the explosive popularity of the LABUBU series from Pop Mart, highlighting its transformation from a niche toy to a cultural phenomenon driven by celebrity endorsements and emotional value [1][8][12]. Group 1: Market Performance - LABUBU's revenue surged from 263 million yuan in 2022 to 3.68 billion yuan in 2023, and is projected to exceed 3 billion yuan in 2024, marking a year-on-year growth of 726.6% [5]. - Pop Mart's overall revenue reached 13.04 billion yuan in 2024, with LABUBU significantly contributing to this growth [5][7]. - As of June 6, Pop Mart's market capitalization was 328.8 billion HKD (approximately 301.2 billion yuan) [7]. Group 2: Celebrity Influence - The popularity of LABUBU was significantly boosted by Thai celebrity Lisa's social media posts, leading to increased demand in both domestic and international markets [8]. - Other celebrities, including Rihanna, have also been spotted with LABUBU products, further enhancing its status as a social currency [8]. Group 3: Emotional and Psychological Factors - The "variable reward mechanism" of blind boxes creates a gambling-like thrill, making the unboxing experience addictive [9]. - LABUBU's design features, such as its childlike characteristics, resonate with consumers' preferences for cute items, while its rebellious aesthetic connects with urban youth culture [9]. Group 4: Marketing Strategies - Pop Mart employs "hunger marketing" tactics, creating scarcity through limited releases, which has successfully positioned LABUBU as a luxury item [10]. - The brand's limited editions come with certificates and artist signatures, enhancing their perceived value and desirability [10]. Group 5: Ecosystem Development - The popularity of LABUBU has led to a self-sustaining commercial ecosystem, with secondary markets thriving and generating additional revenue streams [11]. - Social media platforms have become vital for promoting LABUBU, with unboxing videos garnering millions of views and driving consumer engagement [11]. Group 6: Challenges and Concerns - The surge in demand has led to incidents of violence and chaos during product launches, prompting Pop Mart to suspend sales in certain locations [14]. - Quality control issues have emerged, with numerous consumer complaints regarding manufacturing defects, raising concerns about the brand's reputation [15]. Group 7: Future Outlook - The article draws parallels between LABUBU and Bearbrick, suggesting that LABUBU may face similar challenges in sustaining its popularity amid market saturation and counterfeit products [16][17]. - Recommendations for sustainable growth include enhancing brand storytelling, improving anti-counterfeiting measures, and fostering community engagement among consumers [18][19][20][21].

日前，泡泡玛特（09992.HK）首次开启线上Labubu预售。当天全线产品瞬间售罄，创建的订单最晚发 货时间已至今年9月22日，这意味着消费者或需等待3个月之久才能拿到商品。与此同时，门店大量缺 现货，快闪店预约秒罄。 究竟是产能不足还是饥饿营销？如果是产能不足，那么为何市场上充斥着工厂生产的大量侵权商品？第 一财经记者对此展开多方采访。 2025.06. 24 本文字数：2563，阅读时长大约4分钟 作者 | 第一财 经 刘城 乐琰 南英 Labubu热度持续攀升。 看得到却买不到的Labubu 日前，第一财经记者进入名为"泡泡玛特抽盒机"的微信小程序，17:00左右，直播间正在进行专场直 播。直播期间，时不时有观众留言询问"Labubu什么时候能购买"。主持人反复强调"Labubu暂时没有 货""主播也不知道什么时候补货""一切等'突袭'"（"突袭"即在直播间里临时上架相关产品链接以供消费者 购买）。 在接下来的一个半小时里，直播间始终未上架Labubu产品。18:28，被网友称为Labubu第三代的"前方 高能"系列盲盒商品链接悄然上架。 记者在链接上架初始便迅速操作，从进入、选购、锁单到支付，整个环 ...