Core Viewpoint - The article highlights the explosive commercial potential of the Labubu IP, which has transformed from a niche product to a highly sought-after collectible, driving significant sales growth for its parent company, Pop Mart [4][34]. Group 1: Labubu's Rise and Market Dynamics - Labubu, created by Hong Kong artist Long Jiasheng, has gained immense popularity, surpassing other Pop Mart products in sales and demand [5][7]. - The sales revenue for Pop Mart's The Monsters series, which includes Labubu, is projected to increase from 368 million yuan in 2023 to 3.041 billion yuan in 2024 [7]. - Labubu's popularity has led to a secondary market where some products are reselling for over 30 times their original price, turning them into investment assets [7][34]. Group 2: Emerging Business Opportunities - The surge in Labubu's popularity has spurred various ancillary businesses, including custom clothing, rental services, and modifications, catering to the growing demand from consumers [8][19]. - A young collector in Zhengzhou has successfully monetized his Labubu collection by renting them out, with rental prices ranging from 20 to 80 yuan per day depending on the size [10][15]. - Custom clothing for Labubu has become a profitable venture, with one seller reporting monthly earnings of 2,000 to 3,000 yuan, equivalent to a local salary [21]. Group 3: Customization and Modification Trends - The trend of modifying Labubu figures, known as "改娃," reflects consumer desire for personalization, with services ranging from simple alterations to complex customizations [25][28]. - The customization market for Labubu is still developing, with some players expressing concerns about the sustainability of this trend due to the high prices and limited availability of the figures [30][39]. - The demand for modified Labubu figures is expected to grow as more players enter the market, indicating a potential for long-term business opportunities [39]. Group 4: Challenges and Future Outlook - Despite the booming market, challenges such as supply chain issues and increased competition in the custom clothing sector are emerging, impacting profitability [36][38]. - The sustainability of the ancillary businesses surrounding Labubu will largely depend on Pop Mart's ability to manage and promote the IP effectively [40].

Core Viewpoint - LABUBU, a toy character created by Hong Kong artist Long Jiasheng, has gained immense popularity, leading to a buying frenzy and significant price premiums in the market [1][4]. Group 1: Market Demand and Consumer Behavior - LABUBU has become a top-selling IP for Pop Mart, with a new store in Hangzhou selling out within two hours due to high demand [1][2]. - Consumers are experiencing difficulties purchasing LABUBU due to the presence of scalpers who buy entire boxes of products, leaving regular customers unable to buy [2]. - The limited edition VAS collaboration version of LABUBU is being resold for as high as 15,200 yuan, reflecting a significant markup [4]. Group 2: Sales and Distribution - Pop Mart has opened over 500 stores globally and reached over 90 countries through various e-commerce platforms by the end of 2024 [17]. - The company has temporarily halted the offline sales of LABUBU plush toys in South Korea due to safety concerns arising from overcrowding at stores [13]. Group 3: Brand and Cultural Impact - LABUBU's design and quality have contributed to its popularity, with the character's unique features making it memorable and appealing to consumers [17]. - The rise of LABUBU reflects a broader trend where collectible toys serve as a form of emotional expression and social currency among consumers [17]. - The brand has engaged in cultural collaborations, such as limited editions that resonate with local cultures in different countries, enhancing its global appeal [18].

Core Viewpoint - The article discusses the rapid growth and business model of a company named "卡游" (KAYOU), which specializes in collectible card games, highlighting its impressive financial performance and the cultural phenomenon surrounding card collecting among children and adults alike [2][31]. Group 1: Company Overview - 卡游 is preparing for an IPO, with projected revenues of 100.57 billion RMB and a net profit of 44.66 billion RMB for 2024, indicating significant profitability compared to competitors like Miniso and Pop Mart [6][31]. - The company's revenue has grown nearly fourfold from 22.98 billion RMB in 2021 to 100.57 billion RMB in 2024, while net profit has increased almost sixfold from 7.95 billion RMB to 44.66 billion RMB during the same period [31][32]. - The card business constitutes over 90% of 卡游's total revenue, with a gross margin of 67.3% for the overall business and 71.3% specifically for card sales, which is significantly higher than many cultural and creative enterprises [32][33]. Group 2: Market Dynamics - The collectible card market is driven by popular IPs, with 卡游 heavily relying on franchises like "奥特曼" (Ultraman) and "小马宝莉" (My Little Pony) for revenue generation [34][36]. - The company has expanded its IP portfolio to 70, including collaborations with various franchises to appeal to a broader audience [34][36]. - The card collecting phenomenon has evolved into a social currency among children, where owning rare cards can elevate social status within peer groups [22][24]. Group 3: Consumer Behavior - The excitement of "blind box" purchases, where consumers buy packs without knowing the contents, creates a gambling-like thrill that drives repeated purchases [10][41]. - Parents have expressed concerns about their children spending excessive amounts on cards, with some children reportedly spending thousands of RMB [25][50]. - The card collecting experience is not just about ownership but also about the thrill of opening packs, which keeps consumers engaged [25][31]. Group 4: Challenges and Risks - 卡游 faces risks associated with its heavy reliance on popular IPs, with many licensing agreements set to expire in the next three years, potentially impacting revenue if not renewed [42][44]. - The company also grapples with issues related to counterfeit cards and the challenges of regulating sales to minors, as many children can easily purchase cards without age verification [49][50]. - The competitive landscape is evolving, with potential growth in the arena of competitive card games, but cultural acceptance among parents remains a barrier [52][54].

Core Insights - The article discusses the rising popularity of Labubu, a character designed by Hong Kong artist, and its impact on both the toy and real estate markets, highlighting a case where a player spent significant amounts on toys and real estate due to the character's influence [1][9]. Company Overview - Labubu is a character created by a Hong Kong artist, inspired by Nordic monsters, and is produced by Pop Mart, which has leveraged its global sales network to market the character [1]. - In 2024, Pop Mart is projected to achieve revenue of 13.04 billion yuan, representing a year-on-year growth of 106.9%, with overseas and Hong Kong/Macau/Taiwan business revenue reaching 5.07 billion yuan, a staggering increase of 375.2% [1]. Market Trends - Labubu has become a significant cultural phenomenon, influencing real estate marketing strategies, with developers and agents using the character in promotional materials, such as offering Labubu-themed children's rooms [1][6]. - The character's popularity extends to high-end markets, as evidenced by a social media influencer associating Labubu with luxury real estate, indicating its crossover appeal [3][6]. Consumer Behavior - Labubu has created a strong fan community, enhancing user engagement through shared experiences and discussions about the character, which has turned it into a form of "social currency" among fans [9]. - The secondary market for Labubu products shows significant price inflation, with items originally priced at 599 yuan being resold for up to 30,000 yuan, indicating high demand and speculative trading behavior [9][10].

Core Insights - The rise of ice cups in China is driven by a combination of consumer demand for convenience and affordability, with sales increasing significantly compared to previous years [1][3][11] - The trend originated from South Korea and has been successfully adapted in China, where brands like Luckin Coffee and Heytea have introduced competitive pricing for ice cups [1][3] - The shift in consumer behavior towards ice drinks, particularly among younger generations, has transformed ice cups into a social currency and a staple in summer consumption [5][11] Industry Dynamics - Ice cup production has become highly industrialized, with factories like Guangzhou Ice Lida producing up to 200,000 cups daily at a low cost of 1.2 yuan per cup, making home ice production less competitive [3][9] - The market for ice cups is characterized by a supply chain competition, where leading manufacturers are establishing barriers through economies of scale, impacting smaller brands significantly [9][11] - The environmental impact of ice cup packaging is raising concerns, with projections indicating that packaging waste could reach 50,000 tons by 2024, prompting some companies to explore biodegradable materials and recycling initiatives [9][11] Consumer Behavior - The demand for ice cups is largely driven by the need for convenience, with 91% of orders being for immediate consumption, highlighting a shift towards "minute-level retail" [11][13] - Younger consumers, particularly those born in the 90s and 00s, are leading the charge in ice drink consumption, contributing to 85% of sales [5][11] - The perception of ice cups has evolved from a luxury item to a standard commodity, with prices making them accessible to a broader audience, thus reflecting a trend towards affordable indulgence [11][13]

Core Viewpoint - The article discusses the rise of Labubu as a popular collectible toy, emphasizing the interplay of aesthetic trends, social media influence, and consumer psychology in driving its success [5][15]. Group 1: Aesthetic Trends and Consumer Behavior - Labubu's appeal lies in its "ugly-cute" design, which resonates with the current aesthetic preferences of young consumers [4][6]. - The evolution of aesthetic standards is influenced by power dynamics, where brands like LV shape perceptions of beauty through marketing [5]. - The popularity of Labubu is partly attributed to endorsements from celebrities, such as members of the K-pop group Blackpink, which enhances its desirability [6][7]. Group 2: Psychological Mechanisms Behind Collecting - The dopamine-driven "uncertainty reward" mechanism plays a crucial role in the excitement of unboxing toys, similar to gambling behavior [8][9]. - The collection of toys often follows a series format, triggering the "Zeigarnik effect," where incomplete tasks create a sense of discomfort, motivating further purchases to achieve completion [10]. - Social currency and the desire for recognition drive consumers to showcase their collections on social media, reinforcing their purchasing behavior [11][12]. Group 3: Market Dynamics and Future Outlook - The secondary market for Labubu toys allows consumers to buy and sell rare items, sometimes at significant markups, creating a closed-loop commercial model [14]. - Despite current popularity, the article suggests that Labubu may not maintain its appeal indefinitely due to the fast-paced nature of consumer trends and the need for brands to innovate continuously [15][16]. - The emotional compensation provided by collectible toys reflects a broader societal trend of seeking connection and fulfillment in a rapidly changing world [17][19].

Core Insights - The rise of "Guzi Economy" and pet economy in the A-share market reflects a shift in consumption preferences among Generation Z, with a population of 280 million and an annual consumption scale exceeding 5 trillion yuan [1][2] - The consumption behavior of this demographic is transitioning from "purchasing goods" to "purchasing meaning," indicating a deeper emotional and social transformation [1][3] Guzi Economy - The "Guzi Economy" refers to the market for goods related to anime, games, and other IPs, with a user base of nearly 460 million in 2021, projected to grow to 520 million by 2026 [2][8] - The emotional value drives the pricing of items, such as a limited edition badge from "Haikyuu!!" being sold for 72,000 yuan, highlighting the emotional projection fans have towards characters [2][3] - The industry chain involves IP developers creating content that is licensed to manufacturers and retailers, ultimately reaching consumers [2][3] Pet Economy - The pet economy is characterized by emotional compensation, with 150 million single individuals and 216 million elderly people treating pets as family members, willing to spend significantly on pet care [3][8] - The market for pet-related products and services is expected to exceed 2 trillion yuan by 2030, with segments like smart devices and health management growing at an annual rate of over 25% [8][9] Consumer Behavior - Generation Z's consumption is heavily influenced by emotional value, with 62% of post-95s viewing consumption as a way to construct personal narratives [5][6] - Social media plays a crucial role in consumer behavior, with users sharing their collections and experiences, enhancing community engagement and driving secondary market growth [6][8] Market Trends - The "Guzi Economy" market is projected to reach 168.9 billion yuan in 2024, a 40.63% increase from 2023, with expectations to surpass 300 billion yuan by 2029 [8][9] - Companies like Pop Mart have seen significant growth, with overseas revenue increasing by 375%, indicating a successful expansion strategy [8][9] Conclusion - The emergence of the Guzi and pet economies signifies a broader transformation in consumer values, where emotional connection and social identity take precedence over traditional consumption metrics [10][11] - Companies must focus on creating meaningful experiences and emotional resonance to capture the attention of Generation Z consumers in this evolving market landscape [10][11]

这是半佛仙人的第1792篇原创 1 前两天我妈突然给我打电话，说让我给她买点奶粉。 我脑子当场上演一出八点档苦情戏戏码——骨质疏松的老母亲独自垂泪，却怕子女担心不 敢明说的子欲养而亲不待的戏码。 我的愧疚还没来得及张嘴，我妈就给我来了一句【给我买那个跟央视做广场舞盛典的那个 蒙牛悠瑞的什么骨力奶粉，多买几罐，隔壁李婶张姨都等着看，我要让她们眼珠子都瞪出 来】。 刚放下电话，我姨妈和姑妈又分别打了过来，也要这个，快点整，非常急。 于是气氛，变得悬疑了起来。 不是，这到底是什么东西？ 一罐奶粉怎么就俘虏一众老ba by？ 不就是个奶粉吗？平时他们也没少喝奶啊。 再然后，我发现自己还是保守了，这奶粉最近流行度过于离奇，已经成了身边中老年广场 舞爱好者的社交货币，其流行程度直追糖豆APP。 不对，这俩都不是竞争关系，而是一起搞事儿了。 我搜了搜这个广场舞盛典，目前刚开启报名，估计各地中老年人都已经盯上这个了。 2 为什么这个奶粉的魅力让人无法阻挡？ 这就涉及到了一个本源问题。 人活着，活的是什么？ 你年轻时，答案会有很多。 但当你到一定年纪了，你就会意识到，什么都是虚的。 人，就活一口气。 第一眼，我笑了，不就广场舞 ...