Core Insights - LABUBU has become a cultural phenomenon among young people, serving as an emotional outlet and a medium for cultural identity, while also igniting a new consumer chain that connects design, manufacturing, social interaction, and content [1][3] - The rapid rise of LABUBU is attributed to the "emotional economy," which has allowed this niche industry to expand globally through long-term strategies and cultural recognition [3] Group 1: LABUBU's Popularity - LABUBU achieved significant auction success, with a unique mint green version selling for 1.08 million yuan at a spring auction, highlighting its exclusivity and desirability [4] - The character is part of the "THE MONSTERS" series by Pop Mart, designed by Hong Kong designer Long Jia Sheng, and has a unique aesthetic that combines cuteness with a rebellious spirit [6] - The global launch of the LABUBU 3.0 series in April 2024 led to overwhelming demand, with products selling out quickly in various international markets, including the U.S. and the U.K. [8][10] Group 2: Emotional Consumption Trends - LABUBU's success is driven by a combination of celebrity endorsements, social media influence, blind box sales, and brand collaborations, creating a multifaceted marketing approach [10] - In 2024, Pop Mart's total revenue reached 13.038 billion yuan, with the "Monster" series generating 3.04 billion yuan, marking a 726.6% increase year-on-year [12] - The appeal of LABUBU lies in its ability to provide emotional value to consumers, reflecting a shift towards personal expression and the deconstruction of traditional toy roles [12] Group 3: Global Expansion - LABUBU has gained international recognition, becoming a top search term during overseas shopping events, indicating its growing global presence [16] - The rise of cross-border e-commerce has facilitated the global reach of Chinese brands, with LABUBU exemplifying this trend by connecting with consumers worldwide [16][19] - LABUBU's success represents a broader movement of Chinese IPs gaining traction globally, showcasing the potential for cultural exchange and emotional resonance [17][19] Group 4: Long-term Strategy - Pop Mart has been in the toy industry for 15 years, emphasizing a long-term approach to brand development and consumer engagement [20] - The company's commitment to a "slow company" philosophy has allowed it to build a loyal fan base and maintain control over its brand identity [21] - The success of LABUBU reflects a shift in the cultural industry towards high-quality, meticulously crafted products that resonate with consumers [23][25] Group 5: Cultural Impact - The rise of LABUBU signifies the growing importance of cultural elements in modern consumer products, merging traditional Chinese aesthetics with contemporary trends [25] - LABUBU serves as a cultural ambassador for Chinese IPs, demonstrating the potential for original creations to gain international recognition [27]

来源：环球网 【环球网报道】"中国年轻人泡泡玛特门店买光拉布布，闲鱼高价转卖，社交媒体晒照"...... "美国人凌晨大街上搭帐篷排长队买拉布布"...... "英国人为抢拉布布大打出手"...... "泰国人跑到中国来买拉布布"...... | 不支持退换货 | | 免责声明 | | --- | --- | --- | | 尺寸 | 高:131cm | | | 材质 | PVC | | | 备注 | 全球唯一一只 | | 拍出108万元的"拉布布" 图源：永乐拍卖 据公开资料显示，"拉布布"是香港艺术家龙家升创作的北欧森林精灵形象，它的形象拥有尖利的牙齿和 直立的尖耳朵，泡泡玛特在2019年签下龙家升并推出"拉布布"系列。为何越来越多的年轻人开始选择给 这个长着尖牙的小精灵"爆金币"？ 这还要从"拉布布"的消费模式说起。泡泡玛特旗下的潮玩产品主力以盲盒为主，买"拉布布"的消费者同 样也要以"拆盲盒"这种带来未知与刺激的形式去购买自己"心仪"的款式。"拆盲盒"带来的是获取即时消 费满足的快感和当下年轻人越来越追求的"情绪价值"。 美国抢购"拉布布"的人群 图源：社交媒体视频截图 非典型潮玩的"情绪价值" 从去 ...

Core Viewpoint - The article discusses the shift in consumer behavior among Generation Z, emphasizing their willingness to pay a premium for emotional experiences, which reflects a broader transition in Chinese society from material abundance to emotional fulfillment [2][4]. Group 1: Consumer Behavior - Generation Z's pursuit of "uncertainty surprises," "community recognition," and "personalized expression" leads to a consumption model that prioritizes psychological satisfaction and social currency over traditional value-price assessments [2]. - This shift indicates a transformation in China from a "manufacturing output" economy to a "cultural IP output" economy, with capital markets increasingly recognizing high-value, light-asset models [2][4]. Group 2: Industry Trends - The rise of emotional economy has resulted in a new operational model that captures value across the entire content creation industry chain, from IP industrialization to value redistribution [4]. - Companies are building complete chains involving artist signing, industrial production, multi-channel sales, and secondary trading, relying on four key phases: incubation, growth, explosion, and continuation [4]. Group 3: Market Dynamics - The emotional economy has driven significant market activity in A-share markets, particularly in the two-dimensional and trendy toy sectors, supported by a large consumer base [4]. - For instance, Pop Mart, known for its trendy toys, has shown strong stock performance since its listing in Hong Kong, exemplifying the dual attributes of "new consumption + cultural IP" [4].

近日，"苏超"火了。更有趣的是，自从南京发布微信公众号官方"玩梗"认证后，"比赛第一，友谊第十 四"开启的"梗王争霸赛"火遍网络。 没有假球，只有"世仇"；挨着太湖就是水，我请贝克汉姆堵你们嘴；输了大闸蟹加盐，赢了盐水鸭加 糖；苏超联赛能火的三个原因，天时地利人不和……对于这些"玩梗"，网友直呼"笑不活了"。 而其中这句"天时地利人不和"也恰恰揭示了"苏超"爆火背后的经济真相：江苏13个市个个经济实力不 凡， 全部是二级财政城市，其中有5个万亿级城市；另外，江苏还有25个百强县，占全国的1/4。"十三 太保"个个能打，但也富得很均衡，因此互相不服气。 "苏超"是江苏省城市足球联赛的简称，其爆火的原因有很多，从经济学的角度出发，清华大学中国经济 思想与实践研究院院长李稻葵公开谈到，比较核心的一个原因是，江苏的经济实力太强了，而且各个城 市都发展得比较均衡。 对此，南都记者对江苏省及其各城市的经济情况进行了盘点。 江苏省2024年的GDP总值超13万亿元，位居全国第二，但增量是全国第一。在这个城均破万亿的省份， 各个城市不甘落后。 目前，江苏13个设区市已然形成了万亿级、九千亿级、七千亿级、五千亿级、四千亿级的阶 ...

要问近期潮玩圈里最火的"当红炸子鸡"，当属LABUBU。这个毛茸茸的小家伙，一边在社交平台刷屏、 席卷全球，一边成为银行拉动存款的"利器"，还把合作方泡泡玛特的创始人推上了河南首富的位子。 LABUBU到底是啥，有何魔力？今天我们就来聊聊。 网上有人笑称LABUBU是"龅牙、没作品、靠人设"的明星。多少有点调侃意味，但确实点出其主要特色 ——LABUBU有标志性的9颗外露的大尖牙；并不依托任何动画作品存在，是中国香港艺术家龙家升创 作的森林精灵形象。 潮玩千千万，为啥火的偏偏是LABUBU？笔者问了几个"入坑"的朋友，答案都有共性：它有记忆点、 有个性、能提供情绪价值。LABUBU并非传统意义上的好看，一开始还让人觉得"怪"甚至"丑"，但看着 看着就顺眼了，变成"怪可爱的"和"丑萌"。镶牙钻、贴七彩睫毛、换不同衣服……对于众多的忠实拥趸 来说，没有作品刚好不会定型，充满模糊恰恰可以定制创作。好看的娃千篇一律，LABUBU可塑性 强、辨识度很高，反倒击中消费者拒绝审美趋同、推崇告别传统的"心巴"。要知道，上一个这样凭 借"不完美但真实有个性"而走红的人物设定还是"魔童"哪吒。 当然，和各种潮玩"顶流"一样，LA ...

Group 1: Kidult Economy Overview - The term "Kidult" combines "kid" and "adult," referring to adults aged 20 to 50 who are interested in traditional children's hobbies, leading to the emergence of a unique "Kidult economy" [2] - The Kidult economy is driven by two main factors: the need for stress relief and the desire for identity recognition among adults, with social media playing a significant role in sharing experiences and collections [2] - Market data shows that while overall toy sales in the U.S. declined by 8% in 2023, the adult consumer segment grew by 8%, accounting for approximately $6.7 billion in sales, demonstrating strong resilience [2] Group 2: Kidult Economy in China - In China, the Kidult economy is primarily driven by Generation Z and Millennials, becoming one of the fastest-growing segments in the consumer market [4] - A survey conducted by JD.com revealed that 56.8% of adults purchased toys for themselves, and 51.1% planned to celebrate Children's Day for themselves, indicating a shift in consumer behavior [4] Group 3: Emotional Economy - The Kidult economy is a branch of the broader "emotional economy," which emphasizes personalized, differentiated, and emotional consumption experiences, contrasting with traditional consumption focused on functionality [6] - According to a report, 42% of surveyed consumers indicated that their shopping motivation includes "pleasing oneself" or "enhancing mood," highlighting the rise of emotional consumption [6] Group 4: Impact on Businesses and Industries - The emotional value consumption presents both challenges and opportunities for businesses, potentially enhancing operational capabilities, consumer guidance, and profitability through increased consumer loyalty [6] - The emotional economy manifests in three main forms: "service + consumption value," "IP + self-pleasure consumption," and "social + pleasing others consumption," affecting various industries such as dining, retail, and cosmetics [6][9] - The emotional consumption market in China is projected to exceed 20 trillion yuan, indicating a significant shift towards mainstream acceptance of emotional economy concepts [9]

Core Insights - Wang Ning and his company Pop Mart (09992.HK) have achieved remarkable success, with his wealth reaching $20.8 billion, ranking him 10th in China and 101st globally as of June 9 [2] - Pop Mart's stock price has surged 174% this year, and over 11 times since the beginning of 2024 [2] - The LABUBU toy has become a cultural phenomenon among young consumers, indicating the significant impact of trend culture [2][3] Market Performance - Pop Mart's sales in the U.S. reached $6-7 million in April, making it the top-selling brand in that region [3] - The company's app topped the shopping charts in the U.S. Apple Store, demonstrating strong consumer engagement [3] Consumer Behavior - Young consumers are increasingly valuing emotional connections and brand significance over mere functionality in products [3][4] - The blind box mechanism creates anticipation and excitement, while limited editions enhance desirability [4] Business Model - Pop Mart's competitive advantage lies in its deep exploration of IP value and emotional attachment, transforming toys into symbols of identity [4] - The company is expanding its product range beyond toys to include various categories like apparel and cultural content, aiming to create a comprehensive emotional economy [4] Industry Trends - The rise of Pop Mart reflects a shift towards a new consumption era, where understanding the needs of the younger generation is crucial for business sustainability [5]

此次让"拉布布"爆火的根源,是泡泡玛特在4月底发布的"拉布布3.0"系列。泡泡玛特官网显示,在美国和 英国市场,该系列仅发售价格就要高出国内一倍以上。在二手平台StockX上,"拉布布"隐藏款单个盲盒炒 价飙升至最高上千美元,溢价百倍,"年轻人的塑料茅台"的称号实至名归。 6月8日,福布斯实时富豪榜显示,泡泡玛特创始人"85后"王宁取代牧原股份创始人秦英林成为河南新首 富。近期,泡泡玛特旗下"拉布布(Labubu)"爆火,一娃难求,一些联名或限量款的"拉布布"更是卖出了几千 上万元的天价,全球年轻人在为此"疯狂充值"。何谓"拉布布",为什么是"拉布布"?作为情绪经济催生出的 新兴消费业态,透过"拉布布"这个火出圈的现象级产品,可见其背后的行为经济学。 王赟 报道 身价暴涨的"拉布布" 是如何出圈的 近日,泡泡玛特旗下的"拉布布"爆火,可谓是"一娃难求"。据报道,在某拍卖平台,原价9000元的4只"拉布 布"拍出22403元。还有泡泡玛特与爱马仕铂金包捆绑竞拍,原价19万元,最后拍出203428元。其限量款在 二手市场溢价达20倍-30倍。 一时间,全球都在疯狂抢购这个"九颗牙"小怪兽。从美国洛杉矶凌晨三点的长 ...

Core Insights - The founder of Pop Mart, Wang Ning, has become the new richest person in Henan, replacing the founder of Muyuan Foods, Qin Yinglin, as of June 8, according to Forbes' real-time billionaire rankings [1] - The popularity of Pop Mart's Labubu has surged, leading to high demand and significant sales, with some limited edition items selling for tens of thousands of yuan [1][2] - Labubu has become a symbol of emotional consumption among young people, reflecting a shift towards valuing symbolic and experiential purchases [1][9] Group 1: Company Performance - Labubu has topped the search rankings on Alibaba's AliExpress platform ahead of the overseas 618 shopping festival, indicating strong international interest [2] - Pop Mart's stock price has shown an upward trend, closing at 244.8 HKD per share on June 6 and rising to 248.8 HKD by June 9 [2] - The gross merchandise volume (GMV) for Pop Mart's toys on AliExpress has increased by 300% year-on-year in the first half of the year [2] Group 2: Market Trends - The trend of emotional consumption is driving the success of products like Labubu, which provide significant emotional value at relatively low prices [2] - The number of registered toy-related companies in China has reached 22,300 as of May 2025, with a notable increase in registrations since 2021 [9] - The number of paying consumers in the Chinese toy market is projected to reach 40 million by 2025 and 49 million by 2030, indicating a shift from experiential to habitual consumption [9] Group 3: Competitive Landscape - Companies like 52TOYS and Tong Shifu are entering the market with different strategies, focusing on licensed IPs and targeting middle-aged consumers, respectively [4][5] - 52TOYS aims to differentiate itself by emphasizing collectible toys rather than trendy toys, while Tong Shifu focuses on copper cultural products appealing to a mature demographic [5] - The competition in the trendy toy industry is intensifying, with many new brands and designers emerging [9] Group 4: Cultural Integration - Museums are becoming new consumption models, with institutions like the British Museum exploring private e-commerce in China [7] - Pop Mart is actively integrating traditional cultural elements into its products, collaborating with cultural IPs like the Palace Museum and Dunhuang [7]

Core Insights - The rise of the "emotional economy" is reshaping consumer behavior, with consumers increasingly willing to pay for psychological satisfaction rather than just practical product functionality [1][4][6] - Emotional value is permeating various sectors of life and consumption, with products designed to alleviate anxiety and provide joy becoming increasingly popular [2][5][6] Group 1: Emotional Economy Trends - The demand for products that provide emotional value has surged, with over 1.1 million new "decompression" related businesses registered in the past five years, and a 30.18% year-on-year increase in "trendy toy" related businesses in 2024 [4][6] - The market for "emotional economy" products, including those related to second-dimensional IP derivatives, is projected to reach 168.9 billion yuan in 2024, with expectations to exceed 300 billion yuan by 2029 [4][6] Group 2: Consumer Behavior - Consumers are increasingly seeking emotional experiences, with social media amplifying emotional resonance and driving the popularity of emotional consumption [4][6] - Products that provide emotional value include stress-relief toys, nostalgic items, and AI companions, which cater to various emotional needs and preferences [5][6] Group 3: Market Challenges - Businesses face challenges in accurately addressing diverse emotional needs, as different demographics have varying emotional preferences [6][8] - The emotional consumption sector is not without risks, including the potential for impulse buying and issues related to product quality and misleading advertising [6][8] Group 4: Emotional Value in Retail - Retail spaces are evolving from mere product providers to "emotion-creating" environments, integrating various experiences to enhance consumer engagement [7][8] - Products are being tailored to meet specific emotional needs of different consumer segments, with a focus on storytelling and cultural relevance [8][9]