Core Insights - The article discusses the rise of three new consumer giants: Labubu, Laopu Gold, and Mixue Ice City, highlighting their contrasting pricing strategies and market appeal [1][2][3] Group 1: Market Performance - Labubu's stock price reached HKD 239.6 as of June 20, 2025, with a year-to-date increase of 170%, following a previous increase of 342% [1] - Laopu Gold has also seen a remarkable year-to-date increase of 267% [1] - Mixue Ice City, which recently went public, has surged over 150% this year, contributing to the trio's status as new consumer giants [1] Group 2: Pricing Strategies - Labubu and Laopu Gold represent the high-end of the market, with Labubu's limited edition toys selling for multiples of their original price, while Laopu Gold maintains a fixed price strategy despite fluctuations in gold prices [2][3] - Mixue Ice City operates on the opposite end of the spectrum, offering products at low prices, with most items priced under 10 yuan, appealing to budget-conscious consumers [3][4] Group 3: Supply Chain and Cost Management - Mixue Ice City's supply chain is a key focus, providing a one-stop solution for beverage ingredients, which allows for significant cost reductions [5][6] - The company’s ability to control upstream resources contributes to its competitive pricing strategy [6] Group 4: Consumer Behavior and Emotional Value - The success of the three giants reflects young consumers' desire for both emotional value and practicality, with Labubu symbolizing social recognition and Mixue Ice City representing value for money [7][9] - Labubu's appeal lies in its scarcity and the emotional experience of unboxing, while Laopu Gold leverages its luxury branding to create a sense of exclusivity [9][10] Group 5: Challenges and Market Dynamics - The article highlights potential challenges for the three giants, including low industry barriers and increasing competition, particularly for Labubu and Laopu Gold [14][15] - The emergence of competitors like Fugglers poses a threat to Labubu's market position, as consumer preferences can shift rapidly [15][17] - Laopu Gold faces challenges in maintaining its luxury status amid fluctuating gold prices and increasing competition from similar brands [21][22] Group 6: Future Outlook - The future of commercial competition will hinge on balancing emotional economics with affordability, as brands that can meet both emotional and financial needs will thrive [23]