好文7387字|16分钟阅读 作者：小明|编辑：萧炎 边界感小站寄语："边界，不是墙，是给自由留的缝" 欢迎您的阅读…… 阅读小提示：因该篇文章篇幅较长，为方便您快速获取价值信息，作者一划重点助您快速阅读 00后年轻人正以他们独特的认知方式，重新定义生活方式与人生选择。72%的年轻人通过专业见解定义自我 ，而仅有23.7%的父母能真正理解他们的消费 动机。这种认知鸿沟，恰如庄子《秋水》中河伯与海神的对话，揭示了人类认知的相对性与局限性。当00后为99元的潮玩支付45万元的溢价时，父母眼中 看到的却是"塑料娃娃为何比黄金贵"的困惑。认知的差异，不仅体现在价格判断上，更深刻影响着代际间的理解和沟通。 故事始于一个普通的下午，在北京合生汇的泡泡玛特机器人商店旁，一位年轻男子正在教一位阿姨如何使用手机小程序抢购Labubu盲盒。阿姨反复打 开、退出小程序，试图刷出一套回流（被拍下但未付款的商品会重新放回库存中），她说："女儿想要的这套Labubu，最高时一度要3000多元，现在1750 元的价格还算可以接受。" 这个场景折射出00后与父母之间巨大的认知差异。00后群体成长于物质生活相对充裕的互联网时代，他们更注重情感 ...

Core Viewpoint - Pop Mart has gained significant popularity overseas, evidenced by a recent incident in the UK where a large-scale brawl occurred over the limited edition Labubu toy, leading to the company's decision to halt sales in the UK [1]. Group 1: Company Performance and Market Reaction - Pop Mart's stock price surged, reaching a historical high of 235.6 HKD on June 3, with a market capitalization exceeding 310 billion HKD, reflecting a year-to-date increase of over 160% [3][4]. - Despite the stock's impressive performance, many retail investors express skepticism, believing it to be another bubble, while institutional investors have largely missed out on this capital feast [4][5]. Group 2: Investment Strategies and Challenges - Institutional investors have struggled to adapt to the changing consumer landscape, often entering and exiting positions at inopportune times, leading to significant losses [6][7]. - The traditional investment mindset, focused on established metrics like brand strength and cash flow, has hindered many fund managers from recognizing the potential of Pop Mart's innovative business model [8][12]. Group 3: New Consumer Trends and Future Outlook - Pop Mart's success is attributed to its unique IP creation model, which has allowed it to generate significant revenue from overseas markets, with international sales projected to reach 30% by mid-2024 [9][10]. - The company has effectively tapped into the emotional and identity-driven consumption trends of the Z generation, which is expected to control 27% of global disposable income by 2025 [15][16]. - The shift in consumer preferences towards emotional fulfillment and collectible items indicates a broader transformation in the consumption landscape, challenging traditional investment paradigms [17]. Group 4: Market Dynamics and Risks - The concentrated ownership structure of Pop Mart, with the top 25 shareholders holding over 85% of shares, raises concerns about stock price volatility and market sensitivity to liquidity [16]. - Despite potential risks, the transition in consumption investment logic is seen as inevitable, with other brands also demonstrating the power of new consumer trends [17].